Tuesday, 17 November 2020 09:00 AM
Company Update
CHINO, CA / ACCESSWIRE / November 17, 2020 / As the year 2020 reaches its finish line one thing is certain, real estate investment and management in California as we know it has changed. The coronavirus economic downturn has dealt a hard-hitting hand bringing rents down across all major cities throughout the country, including Los Angeles. As most landlords struggle to fill rising vacancies and collect on owed rent, landlords have begun trimming rental prices in hopes of filling vacancies with better tenants. Pinnacle International Property Services, a leading California property management and consulting firm that manages over $400 million of real estate in the state has kept its clients ahead of this pandemic driven change by maintaining high-quality tenants from the beginning. This also translates to keeping a high occupancy rate that is consistent with making on-time rent payments.
Currently, in California, many families are facing a huge accumulating rent debt. Industry experts have already predicted a tsunami of evictions will hit all areas of the state once its courts allow legal actions to proceed. A recent UCLA research indicated that there could be more than 495,000 households already at risk of eviction in Los Angeles county and over 43,000 households at risk in Silicon Valley, considered as one of the wealthiest regions in the world. Joy Mao, the senior director of business development and marketing said "running a successful property management company begins with having a team of experienced property managers who are knowledgeable and experts at handling diverse property management issues. Our role is to help the landlord save time, money, and stress from having to deal with prospects, tenants, maintenance, repairs and rent collections." She goes on to add, "every property that is managed by Pinnacle International Property Services is in safe hands, looked after by a responsible team of people who genuinely care about what they do and will work closely to help you increase the value of your real estate investment."
In such unpredictable times, real estate investors have become more cautious about what they are buying. "It used to be all about the location, but now that matters less, especially when going to the office is just walking to the kitchen or living room. What matters more now is the size since everyone is still mostly working at home. And the best way to justify exorbitant prices is no longer a property's amenity package, rather it is more about that peace of mind. COVID-19 has finally propelled real estate into the 21st century with robotic furniture, contactless apps, and healthier homes. There has also been an industrywide push for both commercial and residential to refine and better circulate the air in common areas, elevators, and lobbies for reducing the spread of this coronavirus," said Jay Hu, the company's director of corporate strategy, development and legal affairs.
For property owners who simply want to maximize their return on investment without getting involved in the day-to-day management or sourcing and then looking after tenants, Pinnacle International Property Services is the best partner to have in these uncertain times for achieving this goal.
If you would like to learn more about how a professional property manager can help you with your current real estate or future investment, call (909) 551-9834 or go to www.pinnacleipm.com.
About Pinnacle International Property Services
Pinnacle International Property Services is a leading California property management and consulting firm, managing over $400 million of real estate. From individual clients to multinational real estate organizations, the Pinnacle International Property Services consulting team can help you navigate through market challenges and capitalize on existing opportunities. Our team provides a winning strategy and a focus on people, genuine relationships, shared values, and operates with the highest integrity and character in delivering world-class services and results to our real estate investors, property owners, and residents.
CONTACT:
Pinnacle International Property Services
[email protected]
SOURCE: Pinnacle International Property Services
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