Gerry Ranglas Industry Achievement Award
When did you first start out in the industry? I started out in the industry in 1971 when I went to work for a property management company owned by a local law firm here in San Diego. I was a junior attending San Diego State University, majoring in Real Estate, and was looking through the help-wanted ads to find a part-time job in my field as I was working my way through college. I ran across an ad seeking a part-time position for a college student majoring in Real Estate to assist in the law firm’s property management division. I applied and got the job at the age of 21 while still attending college and my real estate career was officially on its way! Little did I know at the time, this would become a lifetime career and that I would be where I am at today, still going strong 48 years later.
What led you to get involved? While in college, I took a personality test to help me decide what I should major in and I scored highest in Real Estate, Marketing and Law. I decided between these three choices that I would major in Real Estate and that is how I chose my career field. Where do you see the industry heading in the next three to five years? Since we specialize in the apartment sector of Real Estate locally which includes management, development, and investments, I am more familiar and can speak more about this particular sector. I am generally optimistic about our industry over the next three to five years. There is a shortage of apartments based on our population growth and I think we will stay in the 94% to 95% occupancy level. Of
course, if there is a recession it normally leads to job losses and potentially a corresponding increase in vacancy as some people may need to double up to save money. However, I think any recession will be mild and should not significantly impact our occupancy. The Federal Reserve appears to be proactively setting policies that are conducive to a soft landing in the event of a recession, as evidenced by the recent reductions in interest rates. What do you see as the biggest challenges facing the industry? In my opinion, the biggest challenges facing the industry have to do with the government’s interference and regulation of our industry. Instead of letting market forces determine the course of our industry, which is a very efficient way of doing things, we are subject to politicians telling us how to run November 2019 socalrha.org | 23
