Property Management – Encino

 ENCINO PROPERTY MANAGEMENT

Having a property manager can be the difference between loving your rental properties — or wanting to get rid of them! But filling the position isn’t enough; you need to have a good fit for your work style, budget and personality.

Read on for ways to choose the right property manager for your rental business.

What do property managers do?
Depending on your situation, you might be looking to hire an individual or a company with a number of employees to work with. Companies often charge 8% to 10% of the monthly rent in commission and may take a bonus for filling an empty property. Some companies will lower their percentage for multiple properties or additional services. These rates and agreements do vary by market and individual rental situation.

Typical, basic services include interfacing with residents and prospective tenants, collecting rents, resolving conflicts, and taking care of repair and maintenance details. In essence, a property manager should be able to handle all aspects of your rental property, leaving you free to pursue other endeavors.

How to find candidates
As with so many services, finding a referral for property manager from colleagues or friends will help you narrow your search most reliably. You can check general consumer sites like Yelp or Angie’s List, or search real estate-specific sites and forums for information. Sites like Rentlist can also provide helpful information.

You can ask your real estate agent for a referral, as well, though if he or she has a mutually beneficial relationship with a property management company, this may cloud objectivity.

Some states require property managers or property management companies to be licensed real estate brokers. Find out about the law in your state, and make sure that your top picks comply.

What to ask during an interview
Narrow the field early on by asking your prospective property manager about preferred rates. You’re looking for the most services offered for the money.

Communication skills are an important part of the picture, so find out what the property manager’s methods are for keeping you up-to-date and responding to your requests.

Ask important questions, like:

• Do you work with a regular team on repairs and maintenance?
• Do you have experience filling rental vacancies?
• Are you comfortable with difficult situations like evictions?

The decision to hire a property manager will ultimately come down to whether the expense of one is easily absorbed by your rentals.

Once you’ve decided that having someone else handle the many challenges of being a landlord is the right path for you, take the time to select the right property manager for your rental business.

By Amber

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.