LOS GATOS, CA—New rent control requirements and the sustained popularity of owning Bay Area multifamily assets has spurred Silicon Valley Multifamily Group to launch a new, dedicated property management division. The firm has hired industry veteran Jody Marshall as vice president of property management to lead the new service.

“Local multifamily owners believe in the long-term strength of their assets, but changing market dynamics–including increasingly stringent rent control regulations–have made it difficult to manage properties without expert guidance,” said Michael Shields, founder and managing broker for Silicon Valley Multifamily Group.

Shields notes that owners find the new rules confusing and feel they now need professional help to manage or sell assets. In an exclusive, he discussed the stricter versions of rent control, its implications and changes since the ordinance passed.