Fees & Rent Payments

How Much Is the Management Fee?

We use a sliding scale for our management fee, and it ranges from 4 to 7 percent of your property’s rental rate. The following factors determine the exact percentage for this fee:

  • Property location
  • Property condition
  • Number of units

Our minimum monthly management fee is $200. The first payment must be made when a tenant has paid rent and their security deposit.

What Additional Fees Do You Have?

While the management fee is the only regular fee, we charge the following one-time fees:

  • Setup fee – $200
  • New tenant leasing fee – Between 50 and 60 percent of their rent payment for the first month
  • Renewal fee – $100, this includes a rent increase

We don’t add any markup on maintenance charges. Inspections are free of charge, and that includes inspections for move-ins, pre-move-out, move-outs, 90 days after move-in and annually.

If eviction is necessary, we don’t pay for that.

Are There Discounts Available?

Please contact us to inquire about available promotions. Note that we do lower your rate if we’re managing multiple properties of yours.

As you look for a Los Angeles property management company, we recommend that you check for what fees each company charges when comparing pricing. Many companies tack on fees for standard maintenance and inspections, but we don’t.

How Do Rent Payments Work?

Our site has an online resident portal where tenants can pay their rent electronically, which is the fastest, most convenient and most secure option. The rent due date is always the 1st of the month, although we allow a grace period of four days with online payments.

Tenants also have the option of paying by check. They can drop their check off at our office from Monday through Friday, 8 a.m. to 4:30 p.m., or mail it to us. If they mail their check, we must receive it by the 1st. Tenants cannot pay rent in cash.

What Happens with Late Rent Payments?

If it’s the 5th of the month and the tenant still hasn’t paid their rent, then we charge them the $75 late payment fee.* The next step, if they still don’t pay, is to send them a legal notice, followed by going through eviction.

*With grandfathered leases, there can be different rules regarding late fees and rent payment grace periods.

What About Returned Rent Payments?

The non-sufficient funds (NSF) fee is $35, and whenever a rent payment gets returned, we require them to pay us by that month by certified check. Should the returned payment result in the tenant being late on their rent, then they will also need to pay our $75 late payment fee.*

*With grandfathered leases, there can be different rules regarding NSF fees and late payment fees.

How Do Payments to Property Owners Work?

We process payments to property owners on the 10th of the month, as this allows for all tenant rent payments to clear. There can be a delay of one or two days while your bank holds the money.

Do You Send Reports?

Yes, we provide detailed owner statements via email every month, and these will list:

  • Rent payments
  • Fee deductions
  • Maintenance deductions

You can also view your latest statement in your online owner portal. We send Consolidated Cash Flow and 1099 forms when the year ends.

Security Deposits and Reserve Funds

How Much Are Security Deposits?

Tenants pay a security deposit equal to one month’s rent if it’s an unfurnished unit and two months’ rent if it’s a furnished unit. We increase the security deposit amount for tenants who have pets without allocating the extra amount as a pet deposit. This allows us to put the pet deposit towards any type of damage, instead of limiting it to damage caused by the pet.

Who Has the Security Deposit?

We keep possession of the tenant’s security deposit as long as they live in the unit, although there are certain situations where an owner can keep the security deposit. Once a tenant has completely left the unit and given us the keys, they get their security deposit back within 21 days, minus any deductions we had to make. The remainder of deposit will include an itemized statement listing those deductions.

Is There Any Reserve Money?

We don’t keep reserve money for the properties we manage. For all maintenance charges, we deduct the cost from your receivables that month. All maintenance requests for over $500 are sent to you first for your approval.

Marketing Vacant Units and Selecting Tenants

How Much Rent Will You Charge for My Property?

This depends on the property. The three most significant factors in determining a unit’s rental price is where it’s located, its amenities and the current rental market. To provide an accurate estimate, we need to conduct research and see your property.

How Long Does It Take to Rent a Vacant Property?

Although there are no guarantees here, we have most vacant units rented within two or three weeks after we’ve started listing them. If you’d like more info about this, please contact us.

Can Current Residents Continue Living at My Property?

Yes, and it’s great if they do. We’ll need to see your lease with them to verify that it’s up to date, and we also like to meet them briefly and let them know we’ll be managing the property going forward.

What's Your Screening Process?

We start with some pre-screening questions when a prospective tenant first contacts us and when they come see the unit. If they wish to apply, there’s a $40 application fee for any adult who will be living in the unit.

During the application process, we run a background check (which applicants can get a copy of), credit check, eviction check, and we verify employment and income. We also contact previous landlords.

Can I Help Select Residents?

We advise against this to avoid any risk of fair housing discrimination.

Leasing Units

How Long Do Leases Last?

We have a standard lease term of 12 months. After that, it shifts to a month-to-month agreement.

Is Renter's Insurance Required?

All tenants must have a renter’s insurance policy with $100,000 limit of liability covering property damage for the following, at a minimum:

  • Smoke
  • Fire
  • Explosions
  • Water damage
  • Sewage overflow or backup
  • Drain or sump

Is It Necessary to Rent to Those in the Section 8 Program?

No, it isn’t. Rental laws allow landlords to rent to anyone, provided the tenant selection process doesn’t include any discrimination by ethnicity, color, religion, sex, nationality or family status.

Do You Recommend Allowing Pets?

That’s up to you, but it will result in more potential tenants, since 66 percent of Americans have a pet. Remember that you can include restrictions on the pets you’ll allow, the number of pets, the breed and the size in your pet policy.

Property Maintenance and Inspections

How Do Tenants Make Maintenance Requests?

We offer a maintenance request option in our online resident portal. When we receive a maintenance request, we send a professional to fix the issue. This happens within 24 hours of the request, unless we need to coordinate with a specialist.

What About Tenant Emergencies?

We provide an emergency line that residents can call 24/7.

Can I Contact You After-Hours?

We’ll make sure that you have the direct phone number for the property manager handling your property. You can reach them at that number any time you need something.

Who Handles Maintenance Requests?

We have our preferred vendors, who are licensed and insured, handle maintenance requests.

Can You Use My Vendors?

If you have vendors that perform maintenance for you already, we can coordinate with them. Should those vendors be unavailable, then we would use our own to ensure the issue is handled promptly.

What About My Pool and Yard?

We advise you to include any yard and pool costs in the rent for your units and continue paying your usual vendors for those services.

How Frequent Are Property Inspections?

There are always inspection done upon move-in, 90 days after move-in and when a tenant moves out, and we provide free annual interior inspections.

We perform exterior inspections once per quarter if you have a multi-family property with less than 10 units, and once per month if you have a multi-family property with 10 units or more.

Lease Violations

How Do You Handle Lease Violations?

Fortunately, lease violations are extremely rare because we’re thorough in our tenant screening process. Should a violation occur, we notify the tenant in writing.

How Long Is the Eviction Process?

When a tenant stops paying rent or breaks their lease in another manner, we’ll start the eviction process. Although the timeframe can vary since there will need to be a court hearing, the entire process usually lasts between 30 and 45 days.