Western Real Estate News

Irvine, Calif. – Brandon Case has been promoted at Keystone Pacific Property Management from associate community association manager to community association manager in its Irvine office.
“Brandon’s dedication to his team as well as his position have shown us that he will be a great asset to the communities he manages,” said Denise Bergstrom, vice president of association management of Keystone Pacific Property Management.
As community association manager, Case manages a portfolio of community associations located throughout Orange County.
Case holds a bachelor’s degree in business economics with a minor in sports management from the University of California, Santa Barbara.

A leader in the community association management industry for more than 28 years, Keystone Pacific Property Management specializes exclusively in the management of common interest developments in Southern California. Currently, the firm manages over 46,000 units in master-planned, condominium, townhome, single-family home, mixed-use and commercial common interest developments. Keystone Pacific’s clients receive the best care and resources as the firm is committed to providing superior community association services.

Keystone Pacific is one of the few local property management firms to have earned the Accredited Management Organization (AMO) designation from the Institute of Real Estate Management (IREM). In addition, Keystone Pacific is one of only 14 Accredited Certified Management Firms (ACMF) certified through the California Association of Community Managers (CACM®). Headquartered in Irvine, Calif., Keystone Pacific also maintains offices in Rancho Santa Margarita and Temecula, Calif.

For more information, please contact Keystone Pacific at 1-877-KPPM-INC (577-6462) or visit www.keystonepacific.com.

Colorado Springs, CO. – Nicole Lee with the Ashford Real Estate Group, a leading Colorado Springs property management company, says the recession has significantly lessened the margin of error for real estate investors who are feeling squeezed by the economy and can no longer afford inefficient cost controls and inexperienced management of tenants and vacancies.

She says that property managers who don’t sufficiently screen tenants for ability to pay the rent and likelihood of paying it on time, and who don’t take proactive steps to reduce or eliminate vacancies, can end up permanently destroying their clients’ real estate assets. In some cases, they may risk putting their clients’ properties into foreclosure.

In one recent case, Lee says that a builder with nine income properties faced catastrophic loss of all assets in foreclosure proceedings because six of the nine tenants stopped paying the rent. According to Lee, this is happening more frequently to inexperienced property managers as the job market continues to underperform, and more renters start getting behind on their rent. She says that her clients haven’t suffered that fate because of her quick-response strategy for late payments.

“We protect our clients going into the lease agreement, first of all, by being extremely picky about the tenants we allow into the property. There are plenty of good tenants out there if you know where to look, and we definitely know where to look.”

She says that once the lease is signed with a reliable tenant, it’s still more important than ever to be diligent in managing every aspect of a property’s investment potential. If and when a late payment occurs, her property management company has quick reflex policies to deal with it and keep a small problem from becoming a large one.

“Many Colorado Springs real estate managers don’t realize the dramatic impact they have on the bottom lines of their clients’ balance sheets each year. We take our clients’ assets very seriously, because we want our property owners to stay with us for decades.”

Lee says that too many homes are going back to the bank these days, but that foreclosures should present opportunities for investors, not problems.

“By being proactive in our real estate management services, we’re generally able to keep our Colorado Springs rentals consistently in a state of positive cash flow. That’s why our clients stick with us through all types of markets – they know we’re out to fiercely protect their investment.”

About Ashford Real Estate Group

Nicole Lee of Ashford Real Estate Group is a part of the Masters Group and provides a variety of real estate services to Colorado Springs and surrounding military installations such as the Air Force Academy, Fort Carson, Peterson Air Force Base, Shriever Air Force Base, and Cheyenne Mountain Air Station.

Nicole Lee’s passion is finding the right place to live for military personnel and other residents looking for Colorado Springs homes for sale or rent, and managing investment properties efficiently for local and out of town investors. She also specializes in helping renters learn how to become first time homebuyers and enjoy the benefits of home ownership.

Nicole Lee can be contacted at:

Ashford Real Estate Group
4760 Flintridge Dr, Ste 100
Colorado Springs, CO 80918
Phone: (719) 314-6057
Fax: (888) 631-0062

http://www.coloradospringshomesource.com/
http://www.coloradospringspropertymanagement.net/
http://www.coloradospringsrentals.org/

Hear Nicole Lee discuss real estate management:
http://www.coloradospringspropertymanagement.net/files/nicole-lee-property-management.mp3

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.

Contact:

Jerry Garrity

First Statewide Realty
20045 Stevens Creek Blvd.
Suite 2-D
Cupertino, CA 95014
Tel: 408-253-1000
Lic#: 01036982

Email: investments@firststatewiderealty.com
http://www.firststatewiderealty.com

A lot of people talk about buying foreclosures when they consider the investment opportunities in the current market, but there is another largely unnoticed investment option that sometimes goes under the radar. It is the rental market.

What do foreclosures have to do with rentals? A lot, according to one San Jose property management company, but I’ll narrow it down to two major points here: Purchase price and rental price.

First, foreclosures affect the price of homes, which affects those homes’ investment potential. Second, foreclosures put former homeowners out into the rental market, which creates demand for rentals. These factors combined are bringing savvy investors out of the woodwork to participate in the investment opportunities that abound.

Few rental markets in the country are suffering, and that’s because more people than ever are needing to rent because they couldn’t afford the home they bought in 2005 at the peak of the last real estate boom. As a result, longtime San Jose property management company First Statewide Realty, in business since 1988, is saying that vacancy rates have decreased since 2010. This would appear to be good news for investors as the market seeks to correct itself from the bubble days.