Property Management – Granada Hills

 GRANADA HILLS PROPERTY MANAGEMENT

STUDIO CITY PROPERTY MANAGEMENT

CHATSWORTH PROPERTY MANAGEMENT

ENCINO / VAN NUYS PROPERTY MANAGEMENT

If you’re a part-time OWNER managing your own rental property, you either already know (or will soon discover) just how easy it is to get blindsided by the unpleasant aspects of property management.  The archetypal example is a late night call from a frantic tenant who’s toilet is spewing sewage like an active volcano.  But surprises come in other forms too.  For example, there’s always the tenant who calls with a long-winded sob story conveniently ending with a desperate plea for some type of rent abatement.  How do you muster the courage to say “no”?  Won’t this destroy your amicable relations?

Well, here’s the solution: Get a property management company.  Insert some distance between yourself and the tenant.  Property managers are built to tackle the dreary aspects of real estate leasing and administration.  They don’t work for free, but landlords generally consider it money well spent.  It’s basically like paying someone else to have your headaches.  Among other things, property management firms have ready access to contractors, familiarity with local law, experience with the tenant application process, and financial reporting software.  Better yet, a property manager shields the landlord from the client, making it wonderfully easy to refuse a request for rent relief.  The landlord simply says “no,” and the management company reports back with the stock “sorry-there’s-nothing-we-can-do” response.  After all, the property manager is getting paid to be the bad guy.

The functions performed by a property manager typically include:

• Advertising the apartment and showing it to prospective renters.
• Managing the tenant application process.
• Overseeing security deposit escrows and ensuring compliance with local law.
• Collecting and accounting for rent, including the assessment of late fees.
• Addressing routine maintenance problems.
• Periodically inspecting the property, including at the termination of the tenancy.
• Cleaning and re-keying property at the conclusion of the lease.
• Bookkeeping.
• Special projects.

The cost of hiring a property manager is typically a percentage of the monthly rent, plus various and sundry fees for incidental services, such as a “leasing fee,” which covers the effort and expense associated with marketing the apartment to prospective new tenants.  There may also be a vacancy fee (in case the apartment is not generating any income), or even an initiation fee.  Typically, the base fee ranges from five to ten percent of the monthly revenue (and the cost is tax deductible.)  Tying the property management fee to a percentage of the rent is an effective means of incenting the property manager to keep the property occupied with high-quality tenants.

by Andrew

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.