San Jose, Calif. – First Statewide Realty, a San Jose 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

San Jose, Calif. – Jerry Garrity of First Statewide Realty, one of Santa Clara County’s leading property management companies is releasing a statement noting that year over year residential vacancy rates decreased in March 2010 compared to March 2009.

This has been a benefit to the firm’s clientele of successful San Jose real estate investors who rely on the company’s property management services to keep costs low and cash flow positive.

“We are pleased to see that the vacancy factor is very low for our San Jose property management clients due in part to our unique expertise. Our focus from day one is to keep a tight reign on expenses and to aggressively market properties the minute we know a renter is moving out.”

Garrity’s property management company has been providing corporate and private investors alike with expert management of their real estate portfolio. First Statewide clients like Attorney Walter B. Stone have trusted First Statewide Realty for over 20 years to keep vacancy rates low for their properties.

Walter B. Stone, Attorney at Law, says that First Statewide Realty has been instrumental in managing its income properties so that their balance sheet stays in the black.

“First Statewide runs a tight ship with all of our properties. They’ve not only saved us money, but helped us to make money on our investments.”

Garrity believes that vacancy rates will continue to go down in 2010 as more former homeowners find themselves in the position of needing to rent. This bodes well for property managers like First Statewide that have a large portfolio of properties.

“I’ve been providing San Jose property management services since 1988 and have seen all kinds of up and down markets. With the high number of people unwilling to sell their home at today’s discount prices, it’s hard to think of a better time to turn your last home into a cash flow investment.”