How to Find the Best Property Management in Los Angeles County
Property management companies in Los Angeles County CA market and manage commercial properties and residential properties. They minimize vacancies by finding new tenants and by caring for the tenants you have. Good property managers in Los Angeles County CA are also responsible for repairs and maintenance of your property to keep tenants happy and the property value up. Some property management companies also collect rent and deal with tenant issues. The following research by The Prime Buyer's Report identifies the best property management companies in Los Angeles County CA and issues related to hiring them.
Updated November 04, 2016
How to Find the Best Property Management in Los Angeles County
By state law, all property management companies in Los Angeles County are required to merely be licensed real estate brokers. Since this is not a license specifically for property management, that's all the more reason to choose only a company proven experienced in this specialty.
They are not legally required to have workers' compensation insurance for your protection. If an employee of theirs were to be injured on your property and the company doesn't have that coverage, the injured employee could file suit against your property insurance resulting in higher premiums for you or even outright cancellation, or a suit against you if your own insurance won't cover it.
Likewise, companies that perform property management in Los Angeles County are not legally required to have general liability insurance to reimburse you in the event of any damage caused to your property, however all property managers bearing The Prime Buyer's Report—TOP 10 designation do have this general liability insurance coverage and worker's comp insurance, in addition to passing all other requirements for The Prime Buyer's Report—TOP 10 status such as our research phone calls to their previous clients to verify high satisfaction , hiring only documented workers, verified license, clean complaint record, and more.
Property Management Companies in Los Angeles County CA
Whether you need good residential property managers, commercial property managers or property management companies for retail property management in Los Angeles County, professional property managers in Los Angeles will know how to maximize your income by minimizing vacancies and finding tenants. The best property management companies in Los Angeles County also oversee maintenance to retain the value of your buildings.
Some property management firms in Los Angeles County specialize in either residential or commercial property management and other properties including mobile home parks, retail buildings and even marinas. The type of property you own will dictate the size and expertise of the property management companies you consider.
Responsibilities of Residential Property Managers in Los Angeles County
Residential property management companies in Los Angeles County are responsible for dealing with tenants and caring for maintenance, repair and tenant improvements. They act as a buffer between property owners and tenants and may also collect rent, and pay expenses and taxes.
The main role of a rental property manager (also called an apartment property manager) is to serve as the liaison between the property owner and the tenants. This may include addressing maintenance issues and dealing with past-due rent and evictions. Some residential property managers are also responsible for renting out units, and may deal with rental showings and contracts. They lessen the responsibilities of the building owners by taking on tasks including maintenance appointments and managing tenant improvements. Most rental property managers send monthly reports to the property owners to keep them abreast of financial and property details.
Responsibilities of Commercial Property Managers in Los Angeles County
Commercial property managers have many of the same responsibilities rental property managers do, but they must also have experience managing multiple tenants, property management software and accounting systems, building security and management issues that are unique to commercial and retail spaces. The best commercial property management companies in Los Angeles County also pay the utility bills and expenses.
Commercial and retail property managers take care of the day-to-day maintenance of the property and often market vacant properties and screen potential tenants. Their expertise may also include minimizing vacancies and increasing the income the property generates. Experienced property management services in Los Angeles can even increase profit by advising property owners on the price of available units based on comparable units in areas including Los Angeles.
Legal Requirements for Property Management Companies in Los Angeles County
By state law, all property management companies in Los Angeles County are required to be licensed real estate brokers. Employees of the property management firms, however, may work under their principal's license.
The Prime Buyer's Report lists these Property Management Companies in Los Angeles County: Malibu Property Management Malibu CA, Monarch Management Malibu CA, Supreme Property Management Marina Del Rey CA, WPM Property Management Santa Monica CA, NPS Management Corporation Beverly Hills CA, Blackstone Management Beverly Hills CA, Pacific Shore Property Management Los Angeles CA, Acorn Properties Management Los Angeles CA. Other property managers in Los Angeles CA that might still be in business include: .
Hiring Property Management Companies in Los Angeles CA
Although state law requires property management companies to have a real estate license, having a license to sell real estate doesn't make a company experienced in property management. So to be sure you're getting good property managers follow these guidelines below.
Step 1: Describe Your Requirements to the Property Management Companies in Los Angeles County
Prepare a list of all the tasks you want a property management service to take care of. Then have ready a full description of the property, income and expense information. Share the same list of tasks and property description with all of the Los Angeles County property management companies you're considering so their proposals to you are for the same services so that you can make a fair comparison.
Step 2: Use the Following Questions to Evaluate Property Managers
You'll learn a lot about the residential property management companies in Los Angeles and commercial property managers in Los Angeles County by conducting a short interview. You're likely to find the best property management company for you by choosing the one who can answer your questions to the best of your satisfaction.
The following questions will get you started:
• Are the property managers in Los Angeles County available full-time or part time?
• What are the hours of operation for property management companies in Los Angeles? Will they also take care of your property on weekends and holidays?
• How much are local property management company fees?
• How many other properties do the property managers manage?
• How strong is their knowledge of the local market?
• What is your property manager's personality like? (Note that poor interaction skills may lead to higher tenant turnover rates.)
• Will property management companies outsource their duties to other individuals? Or will they be directly involved in the property management?
• What are the contract terms?
• Do the employees at the property management companies know how to collect rent?
• Can the property managers provide references?
• Do the property management companies in Los Angeles County charge extra fees for property showings, evictions or any extra services?
• How do the property managers in Los Angeles County advertise the rental units?
• What is the average time and cost for them to prepare rental units?
• What has been the average length of time it's taken each of the property management companies to fill vacancies?
• What screening methods do the property managers use when filling apartment vacancies?
Step 3: Making a Decision Among Good Property Management Companies in Los Angeles County
After you've considered the talents of good residential property managers or commercial property management companies in Los Angeles County, determine which are the best property managers for you.
Resources About Property Managers in Los Angeles County
Regulatory Agencies & Trade Associations Related to Property Management in Los Angeles County
BOMI Building Owners & Managers Institute International (http://www.bomi.org/)
IREM Institute of Real Estate Management (http://www.irem.org/)
NAA National Apartment Association (http://www.naahq.org/)
NARPM National Association of Residential Property Managers (http://www.narpm.org/)
CAA California Apartment Association (http://www.caanet.org/)
Diamond Certified www.diamondcertified.org
BBB Better Business Bureau (http://www.bbb.com/)
Media Regarding Property Managers in Los Angeles County
Commercial Property News Magazine
Property Management Magazine
Commercial Property Management Magazine
The Journal of Property Management
Rental Property Reporter
International Journal of Strategic Property Management
The Prime Buyer's Report provides information for the TOP 10 Property Managers in Los Angeles County within the following zip codes:
91377, 91376, 91302, 90755, 90808, 90832, 90847, 90749, 90807, 90831, 90846, 90748, 90806, 90822, 90844, 90747, 90805, 90815, 90842, 90746, 90804, 90814, 90840, 91301, 90745, 90803, 90813, 90835, 90895, 90744, 90802, 90810, 90834, 90853, 90801, 90809, 90833, 90848, 90250, 90264, 90277, 90295, 90307, 90403, 90411, 90508, 90651, 90702, 90713, 90733, 90263, 90275, 90294, 90306, 90402, 90410, 90507, 90650, 90701, 90712, 90732, 90262, 90274, 90293, 90305, 90401, 90409, 90506, 90640, 90671, 90711, 90731, 90261, 90272, 90292, 90304, 90312, 90408, 90505, 90639, 90670, 90710, 90723, 90260, 90270, 90291, 90303, 90311, 90407, 90504, 90638, 90662, 90707, 90717, 90255, 90267, 90290, 90302, 90310, 90406, 90503, 90637, 90661, 90706, 90716, 90254, 90266, 90280, 90301, 90309, 90405, 90502, 90510, 90660, 90704, 90715, 90251, 90265, 90278, 90296, 90308, 90404, 90501, 90509, 90652, 90703, 90714, 90734, 90018, 90026, 90034, 90042, 90050, 90058, 90066, 90074, 90082, 90093, 90201, 90221, 90239, 90017, 90025, 90033, 90041, 90049, 90057, 90065, 90073, 90081, 90091, 90189, 90220, 90233, 90249, 90016, 90024, 90032, 90040, 90048, 90056, 90064, 90072, 90080, 90089, 90103, 90213, 90232, 90248, 90023, 90031, 90039, 90047, 90055, 90063, 90071, 90079, 90088, 90101, 90212, 90231, 90247, 90022, 90030, 90038, 90046, 90054, 90062, 90070, 90078, 90087, 90099, 90211, 90230, 90245, 90021, 90029, 90037, 90045, 90053, 90061, 90069, 90077, 90086, 90096, 90210, 90224, 90242, 90020, 90028, 90036, 90044, 90052, 90060, 90068, 90076, 90084, 90095, 90209, 90223, 90241, 90019, 90027, 90035, 90043, 90051, 90059, 90067, 90075, 90083, 90094, 90202, 90222, 90240, 90002, 90010, 90001, 90009, 90008, 90007, 90015, 90006, 90014, 90005, 90013, 90004, 90012, 90003 and 90011
The Prime Buyer's Report provides information for the TOP 10 Property Managers in Los Angeles County within the following cities:
Brentwood, Los Angeles, East Hollywood, Echo Park, Hancock Park, Harvard Heights, Hollywood, Hollywood Hills, Koreatown, Larchmont Village, Los Feliz, Mid-Wilshire, Pico-Union, Silver Lake, West Hollywood, Westlake, Westlake, Eagle Rock, Highland Park, Montecito Heights, Glassell Park, Atwater Village, South Central L.A., Watts, Crenshaw, El Sereno, Boyle Heights, East Los Angeles, Montebello, Pico Rivera, East La Mirada, Cerritos, Norwalk, Downey, Bellflower, Paramount, Compton, Lynwood, South Gate, Bell Gardens, Bell, Maywood, Huntington Park, Malibu, Ladera Heights, Culver City, Bel Air, Beverly Crest, Beverlywood, Century City, Cheviot Hills, Pico-Robertson, Westwood, Beverly Hills, Del Rey, Mar Vista, Pacific Palisades, Palms, Playa Vista, Sawtelle, Venice, Santa Monica, Marina del Rey, Alondra Park, El Segundo, Gardena, Hawthorne, Hermosa Beach, Inglewood, Lawndale, Lomita, Manhattan Beach, Palos Verdes Estates, Redondo Beach, Rolling Hills, Rolling Hills Estates, Torrance, Westchester, Carson, Catalina Island / Avalon, Harbor City, Harbor Gateway, Hawaiian Gardens, Lakewood, Long Beach, Rancho Dominguez, San Pedro, Signal Hill, West Carson, Wilmington, La Mirada, West L.A., Glendale, East Whittier, North Whittier and Whittier