Friday, November 18, 2016

Scott Safadi & Cal Bay Property Management Talk "Paperless"

Scott Safadi is the general manager of Cal Bay Property Management. Cal Bay Property Management, under the direction of Scott Safadi, and with the help of Appfolio's great software, is fully paperless. That doesn't mean Cal Bay Property Management does not sign traditional paper leases from time to time, however at the time of this posting over 90% of our applications are submitted online, over 90% of our leases are E-Signed, and 50% of our tenants pay online through their tenant portal (instead of paper check). Scott Safadi believes in aggressively migrating to a paperless world for a number of reasons. For one, there is the undeniable environmental impact. Typical apartment leases can easily be in excess of 40 pages. Another compelling reason to go all-electronic is to minimize errors. Cal Bay Property Management prides itself on error-free reporting. Automation is the key to minimizing human error. And there's no way to automate a stack of paper.

Friday, November 11, 2016

Rent Control Update by Scott Safadi

Scott Safadi of Cal Bay Property Management watched the local elections very closely this year, with special attention focused on rent control ballots in San Mateo, Burlingame, and Mountain View. The measures were defeated in San Carlos and Burlingame, but passed in Mountain View. Mountain View is making it extremely difficult for landlords to operate. Between the right to lease ordinance that was passed recently and this new rent control ordinance, landlords will be finding themselves with limited funds to repair and improve their properties. Hopefully, Mountain View will not regress to the dilapidated state that a great part of San Francisco finds itself in due to rent control.

Wednesday, October 26, 2016

Scott Safadi of Cal Bay Property Management discusses quality control

Quality control is an essential element of what sets Cal Bay Property Management apart. Scott Safadi closely oversees all aspects of operations, ensuring that all employees are maintaining the same high standards that Scott Safadi sets forth for himself. Cal Bay Property Management is built on the concept of never taking the easy or lazy approach. We manage buildings as if they were our own, taking each decision seriously and with the bottom line in mind.

Friday, October 21, 2016

Scott Safadi on Dropping Rents in the Bay Area

Well, the time has finally come. Rental rates are finally dropping in the Bay Area, after over five years of continual, double digit growth. That type of growth was simply unsustainable. While many news outlets try to sensationalize this phenomenon as the bursting of a bubble, Scott Safadi, does not believe that this accurately represents what is taking place. Rents are finding their equilibrium. With job growth down to normal levels, we can expect the market to continue to adjust, most likely further down and then possibly a small rebound until things level off for a while. Our hyperbolic rental market is not good for anyone. It is Scott Safadi's hope that we will find that equilibrium in the coming 12-24 months and that sustained job growth will keep rates steady for some time to come.

Sunday, October 9, 2016

Scott Safadi on Renter Movement

There is an undoubtable trend in the bay area rental market, especially when it comes to millennial generation renters who work in the tech sphere. We are seeing these folks leave the Silicon Valley and instead gravitate to the Peninsula and San Francisco. While working at Google might be a cool thing, living in Mountain View is not for these young tech workers. At this point, I would consider Palo Alto the southernmost tip of "cool" places to live. Santa Clara County is almost completely on the outs, with San Mateo County surging ahead in popularity. These renters want to be on the Caltrain line. They want to be able to get places on foot and on their bikes, such as a downtown. Little towns along the Peninsula that have access to Caltrain as well as a nice downtown, such as Redwood City, San Carlos, and Burlingame, will continue to thrive for many decades to come.

Friday, November 20, 2015

Ready for El Nino

Many property owners have been preparing for El Nino, requesting extra attention to their gutters and so forth. While this is a standard fall time practice for property managers, the looming fear about the coming rains has pushed us to take some additional measures this year. The two early rains of this year, one week apart, and lasting one day only, were extremely helpful in identifying weak points in our various roofs. We are confident that coming into the main winter months, we will have minimal issues, thanks to the timing and duration of the early rains.

Friday, October 30, 2015

Rental Market Update by Scott Safadi

After 5 years of double digit annual growth, the rental market in the Bay Area appears to finally be flattening out. There is always a seasonal slowdown at the end of the summer; however, in 2015, this slowdown came in early August, when things are usually peaking. Rent to income ratios remain at 2.5-3.0X comfortably, but one has to bear in mind that the majority of new renters today, tech employees, are making six digit salaries. The current bay area rents depend on this sector and the salaries it provides. One must ask how the others survive - those not making six digit salaries in tech. The reality is that they are being forced into areas and neighborhoods that they would not have considered living in before, or they are moving out of state.


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