Property Management – Woodland Hills
Woodland Hills Property Managment
West Hills Property Management
Calabasas Property Management
A property management company can take a lot of the hassle out of renting out an apartment. In this week’s Amateur Landlord, we looked into what a management company actually does and how much it costs to outsource landlord responsibilities.
For amateur landlords that decide to go with a management company, it can be a huge load off.
In addition to advertising the unit and screening prospective tenants, the company will also coordinate the execution of the lease and collect rent. During the course of the lease term, the company will also coordinate maintenance and repair work, and most will document monthly cash flow statements and provide 24-hour emergency service.
In return for these services, management companies in the District typically charge fees of between three and ten percent of each monthly rental payment.
“Eight percent for full service property management has been the standard in DC for a long time,” Mary Kay Welch, president of Investors Management, a residential property management firm in Dupont Circle, told UrbanTurf. “But some firms now charge ten percent.” In addition to the monthly charges, the firms typically collect a leasing fee of one month’s rent. This makes the true, amortized monthly fee more like 16 percent total.
Not surprisingly, maintenance and repair requests and rent collection are the issues that prove to be where owners get the most bang for their buck from using a management company. For delinquent tenants, management companies can be a tremendous help when it comes to pursuing litigation or evicting tenants that do not pay. Since companies collect their fees from rental charges “you can bet that they are going to ensure that the rent is paid and that local laws are followed,” Urban Igloo’s Gersten said.
For landlords looking to find a good local management company, check out the National Association of Residential Property Managers website. The site is used to find NARPM-approved property managers in specific neighborhoods.
Carnahan Property Managers in Woodlnad Hills California charges only 5%. This is a fantastic price for a 60 year property managemnt company with a great record and a vast referral base.
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