FREQUENTLY ASKED QUESTIONS
HOW MUCH IS PROPERTY MANAGEMENT SERVICES?
Well it depends on a lot of factors. It depends on your property and which package you choose. Call us or simply contact us by email and a member of our team will arrange to visit your property to assess your needs quickly and then give you an exact price. We charge a flat rate fee or a percentage of profit depending on which is greater. We look forward to hearing from you!
HOW LONG IS THE PROPERTY MANAGEMENT CONTRACT?
LLC Property Management contracts are for one year with a 3 month clause. After 3 months either party may terminate the contract with a 30 days notice.
WHAT SOFTWARE DO YOU USE FOR ONLINE REPORTING?
Owners have access to their online reporting through Rent Manager. Your account is updated on a daily basis. You will be able to keep track of when rents are paid, expenses paid, your net income, etc. In addition, a more detailed report is sent out on the fifteen of every month, for the entire previous month. These reports are easy to read, and can be tailored to your specific needs. In each monthly report, at a minimum we include an Executive Summary highlighting major issues, a Rent Roll, an Income Statement, a Ledger of the Broker’s Trust Account and copies of all bills paid. Reports are either mailed or emailed, depending on your preference.
HOW DO WE ADVERTISE YOUR VACANCIES?
We have marketing professionals that are able to fill your vacancy in no time. We monitor and review the filling of vacancies every day. We conduct extensive advertising campaigns for each unit vacant, which includes email blast to all our broker contacts, posting to broker only websites, posting to 21 real estate rental websites, advertise on our website, and more! We update these listing everyday and are always available to potential tenants for information and showings of the vacancy.
WHO COLLECTS THE RENT?
Tenants are able to mail or bring their rent payment to our office. Soon the tenants will be able to pay their rent online too. When rent is received it is immediately placed in your client trust account. At this point all bills that LLC is directed to be paid are paid. The remaining disbursements are made on the fifteenth of every month electronically, or can be mailed in check form with your monthly report, whichever you prefer.
DO YOU KNOW THE DIFFERENT RENT CONTROL REGULATIONS IN THE AREA?
Apartment management in Los Angeles requires not only knowledge of the specific regulations, but also a familiarity of the intricacies and characteristics only decades of experience working within these systems can provide. At LLC Property Management, this firm foundation from daily navigating safely through these systems becomes your advantage.
WHO CHOOSES THE TENANTS?
LLC screens and approves the tenants, as our staff is trained in issues such as credit screening and fair housing. Our software has very strict parameters for determining credit worthiness and we conduct a national background check. In addition, we check all applicants’ rental history and verify employment. We are very careful in choosing tenants, as we have to interact with them on a daily basis. In other words, it’s to both our advantage to choose carefully!
WHO'S IN CHARGE OF MAINTENANCE?
All tenant concerns and complaints become ours; not yours. We have an on staff maintenance crew so the expenses will be at its minimum. We also have a 24/7 tenant hotline for those late night emergencies. For repairs over the approved cost amount we will notify you of the cost and the repairs needed to be done.
WHEN DO YOU SERVE 3-DAY NOTICES? WHO HANDLES EVICTIONS?
LLC is always on top of rent collection. If rent has not been received from a tenant by the 5th of the month, LLC will serve a three day notice to pay or quit. We do our best to work with tenants to keep units occupied, but if a tenant has lost their job, or falls ill and can not pay rent, and chooses to stay in the residence, LLC works with a highly experienced eviction attorney to regain possession of the unit.