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Our team of local professionals at Mynd Property Management are different from other San Jose property managers. Servicing the South Bay and the surrounding Milpitas, Santa Clara, Saratoga, Campbell, Cupertino and Mountain View areas, we leverage real-time data to consistently better our services, providing owners with seamless management experience.
Customers working with Mynd can rely on us as their trusted partner, providing them with a healthy investment, and their residents with a happy home. Technology and media are San Jose’s biggest money makers, and now residential real estate joins their ranks. It’s time to make your real estate investment work for you
If we place a resident and they fail to pay rent at any time during their lease, we reimburse you up to $5,000 in lost rent while we resolve the situation.
If a resident we place moves out and leaves behind property damage in excess of their security deposit, we will cover the difference, up to $5,000.
If a Mynd-placed resident fails to pay rent and an eviction is required, Mynd will cover the court costs and legal fees up to $5,000.
Your rental property is one of your most valuable assets. You expect concrete, tangible results, and Mynd delivers. We focus on measurable results that you can see.
Quicker than average leasing times.
Less than 4 business hours for owners, less than 8 business hours for residents.
Higher than average resident quality score (720+)
No need to worry about rental payments, less than 2% delinquency.
Consistently high customer satisfaction scores (Better than 4/5)
Net Promoter Score of 58 versus industry average of 7
We start by hiring the best people with deep local expertise.We equip them with the tools, technology and data. You get results.
Samantha has over 8 years of experience in the property management industry. She started at a student-focused property and has since been involved in multi-family housing. Samantha specializes and spends most of her time in the South Bay and Peninsula areas.
Mynd is up to the challenge of managing your property in San Jose. We know it’s the 3rd most populous city in California and the 10th most populous in the USA. Not only that, but San Jose sits in one of the most affluent counties in California too, making it one of the most affluent counties in America.
Being a tech, cultural, political, and economic powerhouse has earned the city the nickname “Capital of Silicon Valley”. The influence of San Jose extends beyond US borders since the city has the third largest GDP per capita in the world, behind only Zürich, Switzerland, and Oslo, Norway. Mynd is ready for everything
San Jose has the third-largest GDP in the world. Mynd knows that the San Jose metropolitan area has the most billionaires and millionaires per capita in America. We respect the privacy of all San jose rental property residents and their property owners. Explore our resources below to learn more about San Jose property management and real estate expertise!
You’ve heard us say it before, but we’ll say it again: Mynd is so much more than a San Jose property management company. We’re your investmentpartner.As your investment partner, we scour listings and pore over endless research briefs to stay up to speed on market trends. What are occupancy levels? Asking rents? How much new supply is coming online? These all impact a landlord’s pro forma and must be monitored closely.Let us do the heavy lifting.Below is a snapshot of the San Jose Multifamily Market heading into Q3 2017, courtesy of data from the CoStar Group, Real Capital Analytics, and Marcus & Millichap:
San Jose Submarket Trends ()SubmarketVacancy RateY-O-Y Basis Point ChangeEffective RentsY-O-Y % ChangeEast San Jose1.4%-10$1,6502.West San Jose/Campbell2.0%-80$2,3782.0%South San Jose3.10$2,286-1.7%Mountain View/ Palo Alto/ Los Altos3.50$3,0864.3%North San Jose/ Milpitas4.1%-10$2,652-0.North Sunnyvale4.4%180$2,6860.8%Santa Clara4.7%120$2,6400.7%South Sunnyvale/ Cupertino5.1%80$2,898-0.Central San Jose6.4%330$2,3580.3%Overall Metro4.0%80$2,5180.6%Sources: CoStar Group; Real Capital Analytics
Given the influx of Class A construction, more investors are looking to purchase Class B and C assets outside of the downtown San Jose core. Investors are lured to Class C properties, in particular, given their relatively strong rents and low vacancy rates. Many investors are purchasing properties that offer a value-add opportunity; others are purchasing industrial buildings and converting them to apartment rentals.Investors are increasingly opting to buy and hold their San Jose assets which has limited supply and led to significant price appreciation. As evidence:
The most highly-sought after properties remain in San Jose’s urban, transit-oriented neighborhoods.Private investors accounted for the bulk () of San Jose’s multifamily transactions, followed by equity funds and other institutional investors (), foreign investors () and REITs ().Demand for San Jose multifamily apartments is expected to remain strong for the latter half of 2017. The market is considered to be crowded and highly competitive; it is not uncommon to see multiple bidders vying for the same property.As your investment partner, we will continue to monitor these market trends throughout the year.
If it seems like we’ve been talking about San Jose a lot lately, it’s because we have. There’s so much development happening throughout the city that it can be hard for San Jose property managers, investors and building owners to stay up to speed!
North San Jose just ranked #3 in terms of U.S. neighborhoods to experience the most apartment development between 2010 and 2016. According to an analysis by RentCafe, at least 11 new buildings with 50+ units came online during this period, consisting of more than 6,800 new apartment units in total.That’s right – at least 6,800 new apartment buildings in North San Jose. That doesn’t even account for apartment construction in smaller buildings (), and doesn’t include development that’s happening elsewhere in San Jose. We’re talking thousands of new units in a single San Jose neighborhood.Consider Domain or Vista 99, two North San Jose apartment complexes completed during this time by developer Equity Residential. Domain is one of the largest modular-construction projects in the region; its 444 units were trucked in from Idaho before being assembled on site. Vista 99 is a more traditional apartment community consisting of 554 units in total.
One of biggest of all new developments is easily Crescent Village (). The project, developed by Irvine Company, opened in 2012 and contains 1,750 apartment homes. The complex includes an impressive 5-acre park, multiple pools and fitness centers, a spa, and on-site movie theater. Realizing the success of this project, Irvine Company went on to develop several other apartment buildings nearby – including The Redwoods, River Oaks and Brandon Park.Any local landlord or San Jose property management company will tell you the same thing: the North San Jose apartment market is hotter than ever.We’re starting to see recently completed apartment complexes trade at incredible prices. For example, Essex Property Trust shelled out a cool $92.8 million () for the 183-unit Enso apartment building at 175 Baypoint Parkway. The project had only been open for a year at the time it was sold. The Enso Apartments become the latest addition to Essex Property Trust’s North San Jose portfolio, which also includes the 769-unit Epic Apartments that came online just a few years ago.Most of the buildings going up in North San Jose are luxury apartment communities that are rich with amenities tailored to the area’s young, upwardly mobile tech workers. Landlords and San Jose property managers are easily getting $2,000+ a month in rent for these units.By the looks of the city’s North San Jose area plan, adopted in 2005, we suspect these trends will continue. The area plan calls for upwards of 26.7 MSF of office space, 32,000 new residential units, and close to 2.7 MSF of retail.It’s not just San Jose property managers, landlords and investors who have taken notice of the city’s potential. Apple is planning an 86-acre R&D campus in North San Jose, and earlier this month Google announced its intention to explore building a new “mega-campus” that could swell to 8 MSF of total mixed-use development near Diridon Station.This isn’t the first time North San Jose has earned the honor of being one of the nation’s most active markets for new apartment construction. Just last year, North San Jose/Milpitas landed the #6 spot on a list of the nation’s busiest apartment submarkets, clocking in a growth rate of 80.7% since 2012.North San Jose, once a bedroom community for Silicon Valley, is starting to come into its own as a tech hub in its own right. As more companies like Apple and Google put down roots in San Jose, it will only increase demand for new apartment construction.As always, we will follow development trends in North San Jose in order to keep San Jose property managers, landlords and prospective investors up to date on new opportunities.
Is San Jose, CA a good fit for your goals and strategy as an investor? Learn more about the area, the rental market, housing and rental statistics, and the laws you need to comply with.
In order to make an informed decision, you need to know what to look for in a real estate investment.
San Jose, CA is a large city in Silicon Valley, the country’s major technology hub, and has a large population of highly educated professionals. Due to the strong economy, there is a great deal of new construction, with commercial and residential buildings being erected everywhere. It recently became the tenth-largest city in the United States, with over a million people, but only about 40% of its land area is developed. San Jose's downtown is small relative to its population size and most of San Jose is suburban.
Big Tech makes San Jose one of the hottest real estate markets in the country. Among all the cities of Silicon Valley Bay Area, San Jose city probably has the perfect balance of residential and commercial areas.
House prices rise quickly, so you are going to see appreciation go up more than rent. If your strategy is putting a minimum amount down on a property and expecting cash flow, this probably isn’t a good fit for your goals. For this reason, this area is going to be attractive to the investor looking for appreciation.
If you want help evaluating the area, Mynd offers property management in San Jose and manages many properties in the area. We have proprietary data that can help you run the numbers to make an informed decision.
If it turns out the San Jose, CA rental market isn’t a good fit with your strategy, Mynd has offices in 19 investable markets and can help you find properties that do work within your goals. Sometimes that means becoming an out-of-town investor which can be scary at first. Rest assured Mynd Property Management offers the same level of service at each of our offices, which allows you to work with one property management company and diversify your portfolio across multiple markets.
Every city has a unique dynamic that is constantly changing, and these changes can affect rents. When setting a price for your property you need to factor in occupancy rates, home prices, and rent rates for your property type.
There may be differences in average rents for apartments, single family homes, duplexes, etc. Ultimately, a property management company can help you to determine exact rents for your unique properties based on their types.
If you overprice the rental based on past data, the property will sit vacant. You want to find out the rent that the market will bear in the current market. Just because it rented for a certain amount during the past 3 years doesn’t mean it will be the same today. The area has a 4% vacancy rate which is the lowest in the country. San Jose is normally cheaper than San Francisco, and average days on market is about 23-33 days.
If you have the expectation of renting your property in 5 days and it takes a month, you need to have that factored into your expenses. When setting rent, the further away from the average the longer it may take to rent.
It is important to consider the neighborhood your property is in. Some of the most expensive neighborhoods in the San Jose, CA rental market are North San Jose, Rose Garden, Downtown San Jose and Willow Glenn. If your property is in one of these neighborhoods, you might consider raising your rent slightly compared to what it may be in some of the other areas.
Because prices are going up more than rent, you can expect to make money through appreciation not cash flow. If you want to know what your home in San Jose, CA would rent for, request a FREE rental analysis.
Doing extensive research on the laws you need to follow is required of all investors.
Keeping up with all the changes is time-consuming and may require that you read through websites frequently, listen to webinars, and attend seminars to stay current on the latest legislation.
This law contains a lot of different requirement such as:
There is a lot more to AB1482, and you can read more about it or contact our team to learn about how the Tenant Protection Act of 2019 impacts your rental priorities.
As an investor, you may not have the time or desire to spend hours a month reading through legislation to learn what the governing agencies are changing from week to week. This becomes even more overwhelming if you have properties in several markets across the country.
After contemplating all the work involved to keep up with the laws, it might make sense to hire a San Jose property manager who will do this for you. Your property manager knows the laws and keeps up to date on changes, so you don’t have to do the research yourself.
Mynd property management is ready to be your strategic partner. If you are looking for investment property or San Jose property management services, we are here to help you succeed. We offer a FREE rental analysis of your current rental property, so give us a call today.
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