Q: How do you currently see the real estate market in the Silicon Valley?
Scott Safadi: Well…the Silicon Valley is the home to innovation, and I try to stay ahead of the curve myself. Too many property management companies fall in line with each other, and I make every effort to avoid that.
Q: What is it that’s different in how your company does business?
Scott Safadi: We keep close tabs on all our properties and their condition, and that helps us retain our clients and tenants. For instance, tenants can go to our cloud-based property management database to submit work or repair requests, or even to pay rent. We think it’s a pretty forward-thinking idea.
Q: Property taxes are high in Silicon Valley. How do you deal with that?
Scott Safadi: It’s a fact and a cost of doing business, and it may mean that we have to raise rent on our properties every 12 months or so. It helps retain tenants, though, when we can make sure that they are getting considerably better rents than new applicants. I really believe that good tenants in a complex are essential for a thriving business.
Q: What was the career path that brought you into property management?
Scott Safadi: Well, I have a background in construction, which gives me a pretty good command of cost analysis and building maintenance. That knowledge can then be leveraged into regular remodels and updates for properties, without having to spend an exorbitant amount. It is much easier to rent a freshened-up apartment, and that is an essential factor in keeping our units from sitting vacant for long periods.
As well his lengthy experience in the construction industry, Scott Safadi also has worked as a real estate financial analyst, another skill that has served him well in property management. Based in the San Francisco area for the course of his business career, these experiences have helped him gain a deep knowledge of the housing needs of the Bay Area.
