Three properties. Three different problems.

The situation

A 1960s Mountain View duplex near Castro Street. Both units vacant for 47 and 62 days respectively when the owner, a Bay Area engineer with a relocation to Singapore on her calendar, came to us in February 2024. Prior manager had listed at $4,800 and $5,100 with no movement.

What we changed

First Monday: pulled comp data for 18 active and 14 recently-leased duplex units within a 1-mile radius. The original asking rents were 12–15% above market for that vintage and condition. We re-priced to $4,400 and $4,650, scheduled professional photography, and rewrote the listing copy to lead with the Castro Street walkability and proximity to Google.

Both units re-listed Tuesday. Showings clustered Thursday evening and Saturday morning. Combined: 22 applications across both units within 11 days. We made offers to the two strongest applicants (Google product manager, biotech post-doc couple) by day 12.

The outcome

Combined vacancy reduced from 109 days to 12. Owner deposited $9,050 net to her account on the 5th of the following month. Both tenants are now in year two and have renewed at modest increases (4.5% and 3.8% respectively). She manages from Singapore via portal and has yet to fly back for a property issue.

The situation

An Atherton 5,800 sqft estate, leased to a corporate housing company sub-letting to a tech-executive family on a 2-year contract. By month 10, the tenant had reported six maintenance issues; none had been resolved by the prior manager. The owner, a semi-retired VC, had a call with the family complaining about a fridge that had been broken for three weeks.

What we changed

Inherited the property in November 2023. First action: in-person walkthrough with the family on the same day. Documented 11 outstanding maintenance items, including the fridge, two HVAC zones, a leaking shower pan, and three failed exterior lights. Dispatched five vendors within 72 hours; all 11 items resolved within 9 days.

Separately: reviewed the corporate housing lease and discovered an above-market original rate ($18K vs. comp range $13.5K–$16K for the property's specs). We negotiated a clean exit at the natural lease-end six months later, no animosity, full deposit returned per CC §1950.5 timeline.

Re-listed in May 2024 at $14,500 with new photography. Five qualified applications in 9 days, including the eventual tenants, a Stanford Medical Center surgeon and her family. Signed a 24-month lease.

The outcome

Owner traded a $3,500/mo above-market headache (with deferred maintenance liability accumulating) for a 24-month placement at market rate with a stable, easy-to-work-with family. Net effective rent over 30 months is ~$2,400/mo higher than continuing the original lease would have netted, once deferred maintenance and likely tenant departure are factored in.

The situation

Five single-family rentals: two in Burlingame, two in San Mateo, one in San Carlos. All 3-4 BR properties in the $4,500–$6,800 rent range. Owner's frustration: tenants turning over every 12–18 months, eating 5–8% of gross annually in turn costs (vacancy, painting, professional cleaning, leasing fees).

What we changed

Three operational changes over the first 12 months:

(1) Renewal pricing reset. Prior manager had been pushing 6–8% annual rent increases at renewal, well above local market. We benchmarked against actual comps and proposed 2–4% increases, losing $40-80/mo per property in year-over-year rent but signaling we wanted the tenants to stay.

(2) Maintenance response time. Tenants on the prior manager waited an average 4–6 days for non-emergency repairs. We dispatched within 48 hours and proactively flagged seasonal items (HVAC pre-summer, weatherproofing pre-winter).

(3) Renewal conversations 90 days early. We started asking tenants about renewal intentions 90 days before lease-end, not 30. Gave us time to address any concerns before they became reasons to leave.

The outcome

Three years in: across the five properties, average tenancy length is now 3.4 years, vs. the 1.2-year baseline. Turn costs are down 71%. Effective net operating income is up 9.2% despite slightly lower renewal rent increases, because vacancy and turnover costs more than enough to offset.