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
4118 Clipper Court Fremont
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!
When a tenant occupies a room for only a partial term (month, week, day, etc.), the amount a landlord charges is known as “prorated rent.”
Prorated rent is charged only for the number of days the unit is occupied. It’s based on a monthly rate rather than daily since a daily rate tends to be pricier.
Here’s everything you need to know about prorating rent.
If your tenant moves in or out in the middle of the month or sublets to someone else, then it’s practical to use prorated rent. For example, if your tenant moves in on the 15th, which they often do, you can charge them a prorated amount for those days and then set the regular rent due on the first day of their first full month.
Prorating rent isn’t a landlord’s legal responsibility, but it does help establish a good relationship with your tenant. A good relationship is essential. It makes your tenant more likely to re-sign (reducing the likelihood of vacancies), recommend other potential tenants to your properties, be a good tenant, and follow any rules you may have (like your fire prevention tips).
There are four methods to calculate prorated rent.
Before moving on to the actual formulas for calculating rent, here’s a quick high school math lesson about performing the proper order of operations for mathematical equations. You’ll need to know this because the formulas for calculating rent tend to require multiple operations.
The mnemonic device for this is PEMDAS, or “Please Excuse My Dear Aunt Sally.”
This is the most accurate way to prorate rent when dealing with a year-long lease. Here’s the formula.
((Monthly Rent X # Months in a Year) ÷ Number of Days in a Year) X Number of Days the Tenant is Paying For = Prorated Rent
Here’s the formula with a move-in date of September 15th with a rent of $1,500.
( ( $1,500 x 12 ) ÷ 365 ) X 15 = $739.73
This formula is slightly more confusing than the monthly one, so your tenants may require more explaining. The extra amount of money you'd make isn't worth the effort because a confusing formula may make your tenants feel like something fishy's going on. Best to keep things simple.
This formula is based on the number of days per month, given that 365 days per year divided by 12 months is 30.42 average days. Here’s the formula:
((Rent ÷ 30.42) x Number of Days Occupied)
Here’s the formula for when your rent is $1,200 per month, and the tenant is staying for ten days.
($1,200 ÷ 30.42) x 10 = $394.50
This method entails diving the monthly rent by 30, no matter how many days are in the month. In some states, like California, this is the exclusive method used to calculate prorated rent. Here’s the formula.
((Rent ÷ 30) x Number of Days Occupied)
Here’s the formula for when your rent is $1,200 per month, and the tenant is staying for ten days.
($1,200 ÷ 30) x 10 = $400
This is the formula for prorated rent based on the number of days in the month. Here’s the formula:
(Monthly Rent ÷ Number of Days in the Month) X (Number of Days of Rent Being Paid For) = Prorated Rent
Here’s the formula with a move-in date of September 15th with a rent of $1,500.
( $1,500 ÷ 31 ) X 15 = $725.80
In addition to requiring less explanation formula, the monthly formula has the advantage of making your tenant feel like they’re getting their money’s worth since it frames their rent in the short-term rather than the long term.
These are some things to keep in mind when calculating prorated rent. Which of these influences your calculations will impact how many days you divide your rent by in your calculations.
Your prorating policy should be in writing or your lease agreement.
If it’s a leap year, divide your prorated calculation by 366 days if you plan on using the yearly formula.
It’s not your responsibility to prorate rent if your tenant signs a lease for the first of the month but moves in on a later date. Similarly, it’s not your responsibility to prorate rent if your tenant chooses to move out earlier, but their lease runs to the end of the month.
Offer a prorated rent calculator on your website.
Find out if your state requires you to use the flat 30 method for prorating rent.
Prorating rent is easy to do and an easy way for a landlord to start or maintain a good relationship with their tenant. It makes tenants feel like they’re getting their money’s worth and like the landlord is on their side.
Unless you have to use the flat 30 option, the monthly method of prorating rent is a landlord’s best bet because it’s easiest to explain to the tenant.
And a happy tenant is the best bet for a happy landlord.
Thinking about purchasing a rental property in Tacoma, WA? Learn how looking at the rental statistics, the demographics, and having a local property manager as a partner can ensure you are looking at real numbers when deciding if the area fits your investment strategy.
Before investing in an area, you will want to look at the demographics, home prices vs rental prices, forecasted economic growth, and other important statistics to see if it fits with your investment strategy to help you reach your goals. Will the area give you the cash flow or appreciation you are looking for?
Tacoma, WA, one of “America’s Most Livable Cities”, is a port city on the Puget Sound and is known for being one of the most walkable cities in the US. From its beautiful waterfront to its numerous city parks that include the country’s second largest city park (700 acres), the area has seen a 12% population growth since 2010.
Tacoma offers more affordable investment opportunities than the Seattle area which can be expensive. Cash flow opportunities are better in Tacoma because the prices of homes are not as high.
Median home price: $354,019
Home prices have gone up 9% in the past year.
Commuters – Many choose to work in Seattle but live in Tacoma because it is more affordable.
Students - Several universities are in the area including the University of Washington’s Tacoma campus, so there are a lot of student renters.
Military - McChord Air Force Base is South of Tacoma, so there are military families renting in the area as well.
Between the port, universities, military presence, and proximity to Seattle, Tacoma is a great area for investors looking for an area whose economy is being fueled by a diverse mix of industries.
Tacoma is the 7th busiest container-handling port and attracts businesses in multiple industries. It is known for its high-tech industry that includes Intel and Expedia which are headquartered there. Agricultural and forest products are also large contributors to the local economy.
Tacoma has seen steady job growth over the last 10 years and expects 39.9% in future growth. With its strong industry presence and growth record, it is a great place to invest in rental property for less than a home in a Seattle would cost.
If you are considering investing in Tacoma, contact us at Mynd. We can help you determine if this market fits your strategy to reach your goals. If it doesn’t, we have offices in 19 markets and can help you find an area that does.
The rental market is cyclical, so you want to make sure you set rent to match today’s prices. Just because you rented your property for a certain amount 3 years ago doesn’t mean it will rent for that amount today. The price could be higher or lower depending on what the market says is the going rate. To avoid extended vacancy time, you will want to accurately price the property, so you are getting the maximum return while also filling the vacancy quickly.
Steve Rozenberg, Head of Investor Education for Mynd, says he sees this as a good, steady mix of renter/owner occupied homes which makes it a great market to have a rental property. You should always be able to find a renter.
Knowing the trends and statistics for the area is key to your success as an investor. Consider hiring a local Tacoma property manager like Mynd who can help you determine the correct rent rate. Mynd has access to proprietary information so you are getting current, accurate numbers to base your decision on. If you want to know what you can expect to rent your home for, Mynd offers a FREE rental analysis.
They take care of the day to day operations required when you own a rental property such as:
Do you have the time to manage the property? How valuable is your time to you? If you are managing it yourself, do you know that you are doing it correctly and following the laws?
Landlords must comply with Federal, state, and local laws that apply to rental properties. These laws are constantly changing, and as a landlord you are expected to keep up with them. If you must evict a tenant, there may be new laws in place that limit how you can do that. If managing property isn’t your full-time job, you are more likely not up to speed on current laws such as:
There are a lot of laws that have to do with tenant’s rights, and you must be sure you comply. If you aren’t up on the laws, you may find yourself getting in trouble which can cost you $1000s in fines and court costs.
Our Tacoma property managers can help you make smart decisions and ensure your property is following the laws. Mynd has in-house counsel to help ensure your property is complying with the laws. Contact us today at Mynd about property management in Tacoma or finding your next investment property in one of the19 markets we serve.
As an investor, you want to know that investing in a rental property in Everett, WA aligns with your strategy and helps you achieve your goals. Identifying the right data and numbers to calculate your return is an important step in making an informed, smart decision. Having a local partner like a property manager makes this process easier.
Are you looking for monthly cash flow? Is the property you are looking at going to give you what you need to at least cover your expenses? Are you only interested in appreciation or debt paydown? Your strategy must be defined before you start looking for a property.
Everette is a coastal city on the shores of Port Gardner Bay and is located 25 miles north of Seattle. It attracts families with its world class schools, over 30 city parks, and numerous outdoor sports, activities, and art experiences.
The median income for the area is about average for the US, but the home prices are significantly higher than average. You might be able to make enough cash flow to cover your expenses, but you are more likely looking at making your money in appreciation.
Boeing’s 747, 767, 777, and 787 Dreamliner airplanes are constructed in the world’s largest building located in Everett, and they offer a popular tour of the facility. Everett’s proximity to Seattle is an advantage because it is going to be fed by the strong industry nearby.
When you buy a property in one of the more popular areas, you are probably going to see more appreciation. With an average age of 33, residents are likely families interested in the quality schools in the area. They are also more likely looking homes with multiple bedrooms for their growing families.
Talk to an Everett, WA property manager about the local market and what trends they are seeing. They can answer questions like:
These are the questions you want answered before purchasing a property, so you have the proper expectations. Contact us at Mynd for more information on the Everett area. They can tell you what types of properties are renting quickly, what renters are looking for, and more.
If Everett doesn’t fit your strategy, we can help you find a market that does. Mynd has offices in over 19 markets. Our local property managers can use Mynd’s proprietary data to help find you properties that match your strategy, whether you want to invest locally or diversify across several markets.
It is important to know what the market is dictating when setting rent for your Everett rental property. The goal is to get the right amount of rent while leasing it quickly, so pricing it right is critical.
You might not be able to get the same amount of rent if you lease your property in the Winter (off season) vs the Spring/Summer months (peak season).
If the industries in the area are in a downturn or upturn, that can influence the rent you can expect to receive.
The rent amount will vary depending on the property type, square footage and number of bedrooms. When comparing rents, look at properties that are the same as yours. Being that many of the homes are older, you may find you can get a little more money in rent by doing some updates to the property.
When you own a rental property there are a lot of day to day operations to take care or not to mention all the ever-changing laws you must follow. Should you continue to do this yourself or does it make sense to hire an Everett property management company?
If you own multiple rental properties or plan to in the future, the tasks required increasingly take up more of your time. Keeping up with all the laws you must comply with can become a heavy burden. Maybe you got into investing because you wanted a safe, secure retirement investment or passive income, but you did not realize the amount of time that was involved in managing it yourself. You thought you were gaining free time and ended up having a second job.
It is entirely possible that you will not end up where you hoped because you may not be doing something right. Not complying with a law could result in your ending up in court owing $1,000s in fines.
Getting that great deal when you buy the property is only the first step in the process that leads to your success. Steve Rozenberg, Head of Investor Education for Mynd, thinks it is important to have a team to help you maximize your return.
They take care of the day to day operations required when you own a rental property such as:
You must follow Federal, state, and local Property Code that dictate how a property must be maintained. When it comes to fixing things in the property, who is responsible for them? The tenant or the landlord? There are things you can’t ask on an application or during the screening process.
Landlords must comply with Federal, state, and local laws that apply to rental properties. These laws are constantly changing, and as a landlord you are expected to keep up with them. If you have to evict a tenant, there may be new laws in place that limit if or how you can do that.
Mold can be a problem in the Everett area due to the amount of rain it gets. You will need to make sure the roof, ventilation, and plumbing is in good shape to prevent mold. There are laws that protect the tenant to ensure they have a safe home to live in. Property managers know what you have to do to comply with any laws in regards to Property Codes.
If you don’t have the time or desire to keep up with the laws and regulations, it might be a smart decision to hire a knowledgeable property manager. Mynd has local property managers that know the laws to ensure you are following them as well as in house legal counsel.
A good property manager helps you make smart decisions and ensures your property is following the laws. Contact us today at Mynd about property management in Everett or for help in finding your next investment property in one of the 19 markets we serve.
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.