Real estate management, which is also known as property management refers to the operation and management of residential, industrial, and commercial real estate properties. It is very much like management in any other type of business. A property management company operates everything on behalf of the landlord. For example, some of their duties include doing credit and background checks on tenants, advertising vacancies for landlords, responding to and addressing maintenance issues, and accepting rent from the tenants.

These companies charge you a specific amount of fee for their services. In most cases, they charge a certain percentage of the gross rent collected every month. In order to save this money, you may like to perform all these tasks yourself. But, if you have lots of properties to manage, you may find all these tasks, highly daunting. Always remember, tenants are not very easy people to deal with. A serious real estate entrepreneur always prefers to invest his/her time on other core issues of the venture. Time is the most important asset in a real estate business. Therefore, it is always worth availing the services of professional property management companies. If you want more detailed information on how to ensure your success in this lucrative venture and how a management company can help you with that, you are recommended to visit a property management blog like propertymanagementblog.com. This blog provides extensive information about the latest happenings and development in the real estate industry. In fact, if you visit this blog, it can also help you find the best real estate management company to manage your properties.

The Role Of Property Managers

You will be glad to know that property managers these days also handle development, construction, repair and maintenance of your properties. If you are looking out for a way to detach you from your tenant constituency, hiring property managers undoubtedly is the best choice for you. They will also help you initiate litigation with insurance agencies, contractors, and tenants. However, this does not mean that property managers are trained attorneys. Though, some managers are attorneys, in most cases, they have an expert attorneys working under them. The legal subjects that gain the most amount of attention from property managers include public nuisance, reduction of pre-arranged services, harassment, non-payment, and other common evictions. Special attention is given to landlord/tenant law. It is up to you to decide which types of services you want your property manager to perform. Make sure that you have a written agreement with them, explaining each and everything clearly. If you want your property manager to perform legal tasks also, you will have to make sure that the property manager you are hiring is up-to-date with the latest applicable municipal, county and state laws and practices

Get Rid Of All The Headaches Involved With Managing Properties And Tenants

Typical responsibilities of a property management company include signing rental agreements and rental disclosures, complying with rental laws (such as lead paint tests and disclosures), taking care of all repairs and maintenance, fielding phone calls from tenants, screening tenants, and other such things. What is more, if desired, they will also help you make your accounts much easier by keeping track of everything as how the money is being spent on various properties. Therefore, if you want to get rid of all the headaches involved with managing properties and tenants, you should look no further than hiring a professional real estate management company.

What You Cannot Expect Your Property Managers To Do

It is very important for you to understand that you cannot expect your property management company to do everything for you. There are several tasks associated with your property that are not included in their work profile. For example, they will not pay your bills, such as property taxes or mortgage payments. They will not even register your rental properties with local municipalities. You will have to perform all these tasks yourself. However, if you do not have much time to handle these things, there are some other alternative options available to you. In order to save your time, you can have your mortgage lender escrow for the recurring bills, including ground rents and property taxes & insurance.

Should You Hire A Property Management Company?

There is no direct answer to this question. The answer depends on the volume and type of properties you own. If you have a very small cash flow from your rental properties, you may find the amount of commission much more than what you can afford. But, if you have a very large cash flow and have lots of properties to manage, hiring the property mangers will always be a profitable venture for you despite the seemingly high amount of commission. However, in any case, when you consider the very fact that dealing with tenants can be a very daunting task – something that can even steal your night’s sleep, hiring a real estate management company to perform all the tasks on your behalf is always a great thing. Therefore, no matter whether you have a small or large cash flow, if you want to get rid of all hassles, hiring property managers is always worth the expense.

Since 1946 the Carnahan name has had a reputation for honest and ethical Real Estate Property Management services in the San Fernando Valley, Santa Clarita Valley, Burbank/Glendale, Los Angeles, Westside and Conejo Valley areas.

The reason for our success is helping owners like you when they need it. Below is a partial list of property management services we provide to help you protect your real estate investment.

• Tenant placement
• Tenant screening (including: credit check, landlord and employment verification, social security trace report, California eviction check and criminal check)
• Regular property inspections
• Accounting and landlord bill payment
• Monthly financial reporting
• Maintenance service and supervision (we use only proven independent vendors)
• Collections
• Evictions
• We supply all the necessary forms to meet California’s Landlord/Tenant laws
• 24 hour emergency phone service
• Advertising to the broadest tenant base possible

Call or e-mail us today for more information. We’re ready to get started!

• Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.