A Santa Clara County property management company, whose focus is serving San Jose, Cupertino, and other Silicon Valley real estate investors, consults with clients to help them retain positive cash flow on their rental properties through the recession.
Online PR News – 09-June-2010 – – San Jose, Calif. - First Statewide Realty, a Santa Clara property management firm whose focus is serving San Jose, Cupertino, and other Silicon Valley real estate investors, consults with clients to help them retain positive cash flow on their rental properties through the recession.
Many property owners in the Silicon Valley have lost their real estate investments to foreclosure when renters in one or more of their properties moves out or stops paying rent. Jerry Garrity, Owner of First Statewide Realty, says that losing investment properties to the bank can often be avoided through more diligent property management.
He says the true expertise of a property manager shows most during a recession, because that's when it's most important to pinch pennies and squeeze as much cash flow out of an investment property as possible.
"Many San Jose property management companies were formed during good times, and they haven't experienced an extended down market. What that means is that the investor is probably not getting the tight control over costs, pre-vacancy planning, vacancy avoidance, and other services that an experienced PM can provide."
Garrity, whose investment real estate management business of over 21 years has weathered many different market conditions, says that his previous experience with down markets has played a large role in his clients' positive cash flow.
"We pride ourselves on a very high-quality tenant screening process that experience has show gives us better tenants for our clients properties than other firms. As a result, our tenants stay longer, take care of the property better, and make their payments in a more timely manner."
A property manger's attention to detail during a recession becomes even more important than in other markets, because mistakes and inadequate oversight of a property can have serious consequences for the owner.
"We've seen properties go into foreclosure that could likely have been avoided with better property management oversight. So much of this business involves keeping a tight control on costs and being able to keep properties occupied with good tenants."
He says that when property managers are lax in controlling costs, collecting rent, and keeping a property occupied and in good condition, the owner risks losing the investment to the bank when times get tough.
"Our job is to manage our clients' properties to help them weather the uncertain financial storms."
About First Statewide Realty
First Statewide Realty is a professional San Jose property management company specializing in quality single family homes, condominiums, town houses and other investment property in the greater San Jose metropolitan area. The Cupertino property management firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.
First Statewide Realty
20045 Stevens Creek Blvd.
Cupertino, CA 95014