GBA Realty provides a complete range of property management services for owners of residential and commercial properties throughout the Bay Area. The company also helps clients with the various aspects of real estate sales and purchases, and it utilizes cutting-edge online tools and marketing strategies to make sure they get the most value out of their investments.
President Quan Phan says GBA Realty's small size and hands-on approach to property management have been crucial aspects of its success. "We're in the field every day making decisions for our clients, which allows us to stay actively involved in the process and make sure they're getting exactly what they need. They know they don't have to wait to get solutions to their problems, and they really appreciate that."
GBA Realty is known for its comprehensive follow-up services, which Mr. Phan says is important for maintaining long-term customer relationships. "Whether a task is large or small, our clients know we'll be there to take care of it and follow through to make sure it was done properly. Even if they need assistance on weekends or after regular business hours, we'll be there to help."
“We want every client to have a positive experience, so we make sure we're professional, reliable and responsive every step of the way. By utilizing our industry knowledge and state-of-the-art tools, we're able to provide services that enhance our clients' lives and help them achieve their real estate goals.”
If you’re thinking about purchasing a rental property, make sure you understand the responsibilities you’ll be incurring.
Here are some simple steps you can take to survive and thrive as a property owner:
Get familiar with basic tenancy laws.
The Bay Area has some of the most stringent tenant laws in California, and these regulations are always changing, so it’s important for property owners to have a basic knowledge of local legislation. “For example, in San Francisco, property owners are only allowed to raise rent once a year,” says Quan Phan, owner of GBA Realty in San Francisco. “However, this depends on the year the building was constructed, as many older buildings are rent-controlled. This is just one of the many legal aspects that can affect you as a property owner, so it’s a good idea to gain some familiarity with the law.”
Work with a property management company.
Due to the complexity of owning and running a rental property, most owners hire a property management company to handle day-to-day tasks. “In addition to maintaining the property, vetting tenants and collecting rent, property management firms can do things like write comprehensive rental agreements that don’t contain loopholes,” says Mr. Phan. “There are many areas where a professional’s knowledge, experience and attention to detail can be invaluable.”
Don’t skimp on maintenance.
Because property ownership is primarily a financial investment, some owners are hesitant about spending money to repair and update their rental properties. However, being stingy about maintenance tends to backfire in the long run. “For instance, if you aren’t providing your tenants with a safe and healthy environment, it can create a liability and leave you subject to lawsuits,” says Mr. Phan. “Also, ignoring maintenance now can result in a need for bigger, more expensive repairs in the future. In either case, neglecting maintenance usually diminishes your long-term investment, so make sure you keep things like that in perspective.”
Maintaining customer satisfaction is a crucial aspect of any business, but it's even more important for property management firms that have earned the prestigious Diamond Certified award. For GBA Realty, the key to achieving and maintaining high levels of customer satisfaction is simple: take a service-forward, detail-oriented approach to every job. "We're a relatively small firm, so we're able to focus on serving the individual needs of our clients," says owner Quan Phan. "Since we provide them with a single point of contact, they don't have to navigate an administrative maze to get the assistance they need, which they really appreciate."
GBA Realty has been providing property management services for owners of residential and commercial properties throughout the Bay Area since 2008. The company is also qualified to help its clients with real estate sales and purchases, and it utilizes various online tools and marketing strategies to make sure they get the most value out of their investments.
Unlike less experienced property management companies that limit their services to a single aspect of the industry, GBA Realty has the in-house capabilities to handle the dual aspects of real estate and property management. "Most realtors don't provide property management services, and few property managers handle real estate listings, so our ability to do both really sets us apart," affirms Mr. Phan. "With our diverse range of services, we're basically a one-stop shop for property owners."
Another distinguishing attribute of GBA Realty is its thorough expertise in the various facets of property management, which Mr. Phan says isn't always a given in the industry. "Some people mistakenly think property managers just keep hedges trimmed and appliances working, but there's much more to it than that. From dealing with tenants to handling legal issues, we utilize our well-rounded skills to benefit our clients and their investments."