Rhonda Fassbender
Scotts Valley, CA (USA)
Role(s):
Associate/Staff
Able Property Management, Inc.
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Startup
Location:
Scotts Valley
Industry:
Real Estate
Year Founded:
2006
Number Employees:
1-10 people
Description:
Able Property Management, Inc. is a rapidly growing property management company in Scotts Valley, California.
The company was formed in January 2006 and began operations with 9 residential units in Santa Cruz County. Robyn Kissler, the Company’s President, diligently researched the regional rental market, local property management companies, spoke with various property owners to whom she was referred and determined that there was a definite need for a property management company that would be flexible enough to meet the individual needs of each property owner in what she discovered to be an extremely dynamic market.
In just over 2 ½ years our portfolio of managed properties has grown to approximately 100 units. The majority of the properties currently managed by the company are located in Santa Cruz County and are made up of a mixture of single-family, multi-family, vacation and commercial units. In addition, the company manages 20 units in San Jose, made up of 4 single family residences, 3000 sq. ft. of light industrial/commercial property, and 1 multi -family complex. The company also manages 3500 sq. ft. of commercial space in Gilroy. We are currently in negotiations for the management of 250,000 square feet of commercial/industrial space and 6 single family residences located in Watsonville, Salinas and King City .
The company was recently voted the “Best of Scotts Valley” in Real Estate Management for 2008. We take pride in tailoring our management services to meet the needs of each individual property owner. We have increased rental income for some of our owners by 45% to 50%. The company consistently maintains occupancy rates above 99.9% for the rental units under contract compared to the recently reported average occupancy rates in Santa Cruz County of 96.4% and the State of California of 95.4%.
With the recent decline in the real estate market, rental property management is stronger than ever. Whether or not people are buying or selling homes, they will always need someplace to live, and somewhere to conduct business. We have an aggressive marketing strategy in place, and our target mailings consistently produce 10% or better in return contacts.
At this time, our office employs 1 person full time and 1 part time. Our maintenance department consists of 2 full time handymen, 1 part time handyman and a housekeeper. We also have a Licensed Real Estate Broker under contract to ensure compliance with DRE regulations.
We have currently reached the impasse that many successful and growing small businesses reach, expansion requires funding and increased income is created from expansion.
In order to continue providing the excellent quality of service our owners have come to expect during our expansion we need to increase our operations, but in order to increase our operations, we need to first increase our portfolio.
Therefore, in order to facilitate the growth of the company, and allow it to take advantage of the strengthening rental market, we are seeking a loan in the amount of $100,000.00.