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Los Angeles Property Management Welcome New Tenants

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management says, it’s hard to work over the basics on vacant rental property.

Especially when it comes to inspections and repairs that are necessary in preparation for a new tenant.

Los Angeles Property Management The Work Doesn’t Stop

Los Angeles Property Management knows you have to take great pictures and videos inside and out.

You get motivated seekers by even taking pictures of the neighborhood and highlighting the popular attractions that are within walking distance.

List the property on all popular real estate sites, doing that will help you receive inquiries from prospective tenants.

Even with all that effort, work isn’t done yet.

Screening Process

Los Angeles Property Management say, screening potential tenants is a very touchy area.

You don’t want to spend too much time and resources on who is renting, just to avoid problem tenants.

When the future tenant contacts you about your rental, be sure to ask questions right from the start to determine how serious they are about the inquiry.

When the person is looking to move within six months, it’s best not to waste time showing your property, when you have more immediate inquirers that are interested.

Some look at those who need to move in today or next week as a red flag.

Be sure to ask why they are moving and other details that explain the hurry.

Formalities

Los Angeles Property Management says, within the screening process look for answers about evictions or if they may of had issues with the previous property management company.

You could ask questions about them getting along with everyone and anyone, if they seem problematic they’ll probably bring those same issues to your property.

You have to ask for references, personal, former property managers and current and former employers or if they’re self employed.

The amount of time the tenant has known their personal references shows stability, as well as the time they’ve been at their current job.

If they happen to hop around from job to job every six months, be sure to ask.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

Los Angeles Property Management Business Process

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management has learned, that property management is really a small term for a profession that is compressed of an array of different tasks.

Property managers are able to handle customer service, legal disputes, collections, tenant complaints, repairs, neighbor conflicts, maintenance issues, vendors, inspectors, emergencies and that’s just to name a few things.

Los Angeles Property Management Services

Los Angeles Property Management considers the demand placed on a rental property management companies.

It’s easy to see the benefits from improving their business.

When property managers put a strong focus on constant improvement and efficiency, you can go from a startup business to a top rated property management company with the right process in place.

Common Areas To Improve In

Los Angeles Property Management says that common areas to improve in are communication, travel, automation and cost.

Communication can be crazy, between phone calls, text messages, emails and walk in traffic.

It may be hard to keep up with tenants, owners and staff.

Documentation here is very important, it helps to avoid miscommunication.

Leasing Policies

Los Angeles Property Management says, it’s important to establish a service area.

It is tempting to accept new clients to add units under management, but if you keep spreading your staff thin with long commutes, your customer service and emergency response will take a hit.

Leasing agents have had success by utilizing video walkthroughs for every kind of vacancy.

They are able to send a prospective tenant a YouTube link instead of scheduling a showing of the property.

Then, the future tenant can view the unit at their own discretion.

Online Software Helps With Automation

Los Angeles Property Management says, using online mapping software helps for reviewing property tax cards for square footage and features.

This allows us to give a prospective owner an accurate market rent that is based on real time data without visiting the actual property.

Automation is possible, especially for all repetitive tasks.

This is why software was specifically designed for property managers.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

Los Angeles Property Management Landscaping Upgrades Pt.2

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management – Vision Between Trees And Windows

Los Angeles Property Management has learned that tree branches close to the second story windows or that overhang on the roof can present a safety hazard.

This is because random people like to climb trees in order to reach these entry points.

If a roof, ledge, fire escape or ladder are nearby, be sure to secure those windows,” says Gregg McCrary a former FBI criminal profiler.

Besides locking them up, make sure there’s several feet of space between the trees and windows and the roof.

Pruning consistently is a key factor for safety, otherwise intruders have direct access to a vulnerable area within your home.

Boundaries And Perimeters

Los Angeles Property Management says is you install a fence around the whole property, it helps to enclose it from street views and makes the property both more private and secure.

When it’s time to choose a fence, make sure you use the most resilient and safest materials.

You could use wood, aluminum or polyvinyl chloride (PVC), and the recommended height should be about six to eight feet.

Adding Pavement

Los Angeles Property Management says, thieves are attracted to the front lawns that allow them easy access, without drawing any attention to themselves.

To stop an intruder from entering your space, you could cover the ground near any windows or doors with gravel.

This makes a loud crunch if a burglar was to search for a target, this is suggested by experts at Houzz.

When an unpredictable break in does happen, silence is a key factor for these intruders.

If you were to go the gravel route, it is an aesthetic feature that upgrades curb appeal.

Your yard is the property’s first line of defense against potential malice.

It would be smart to configure and design landscape to serve not only as beauty but safety as well.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

Los Angeles Property Management Landscaping Upgrades Pt.1

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management say, if you’re unfamiliar with Crime Prevention through Environmental Design (CPTED), it is the basic premise that “proper design and effective use of buildings and public spaces in neighborhoods can lead to a reduction in the fear and incidence of crime,” this is according to the National Crime Prevention Council.

This may even be direct neighborhood design, this helps developers to create a safe community. It also directs security efforts you take with any of your rental properties.

Los Angeles Property Management Fundamental Design Ideas For Your Rental Property:

  • Practical access to doors and fences.
  • Surveillance of all lighting, window, and landscaping.
  • Territorial reinforcement of signs, sidewalks, and all city ordinances.
  • Maintenance, this includes code enforcement, community cleanups and other service efforts.

Upgrading Lighting Fixtures

Los Angeles Property Management says, mounting torch lamps in the front yard is not only decorative and functional, but it also helps to expose unwanted visitors.

With no dark cover, burglars are less likely to move on your property.

Position the light fixtures away from areas that cause excessive shadows, this helps to illuminate the entire property.

It would be smart to elevate them high enough so no one could tamper with the light.

Effective options for security lighting are high intensity and motion sensitive lights.

Metal halide or high pressure sodium (HPS): “These HPS bulbs emit a yellow to orange light, while the metal halide bulbs emits a blue to white light,” this is according to an online review.

Basic Lawn Work

Los Angeles Property Management knows that overgrown shrubbery is an eyesore, it creates a convenient hiding place, and it may even allow access through first floor windows.

When doing maintenance clean ups, you increase visibility of the yard, also your neighbors will be able to spot any type of activity.

If you want to add plants to the property, consider the following options:

  • Rose Bush
  • The Pyracantha
  • Washington Hawthorn

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

3 Benefits Of Hiring Los Angeles Property Management

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management knows that when purchasing a rental property, most would agree that it’s a good idea to bring in an extra stream of income without having to put in a lot of work.

Many find out the truth, sooner than later.

Owning a residential investment property can make you money, but it also involves a lot of time and commitment.

Los Angeles Property Management Owning And Managing

Los Angeles Property Management knows that adding more to a plate that’s full, is probably not the best idea.

When you own and self manage a property, this means long days, longer nights and tedious tasks ahead.

You have to be careful about the expenditure of money for the business.

This includes maintenance costs, fees, licenses etc,.

There may even be litigation issues, from a simple mistake that was overlooked.

Three Benefit For Hiring Property Management:

1. Big Savings

Los Angeles Property Management say, one of the biggest advantages of using a management company is that they save a lot of time.

This allows you to focus on important task.

Property management companies are professionals that handle big things and little things that come up along the way in running a residential property.

With not having that extra hand, you’re responsible for taking care of everything.

This includes leasing, broken pipes, painting, pest control and even evictions and legal action.

2. Increased Income

Los Angeles Property Management knows, an empty equals no income.

There are valid reasons why units are empty.

At the end of the day, it’s nobody’s fault.

That’s just how the market works certain times.

With a management company in place, you don’t have to worry about wearing too many hats at one time. 

Property management companies help to ensure that tenants stay in your property longer so you have less of a turnover rate.

3. Legal Backing

Los Angeles Property Management knows that for those times when you get sued.

Legal issues are handled by the property management company.

Property management companies have proper and effective legal backing for your business.

They have legal partners that are well versed in all legal aspects of running a property.

They’ll be able to stand behind you and go to court or arbitration on issues that arise.

When most buy a residential investment property, it’s a way to improve your life.

Let a professional management company help.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

How Los Angeles Property Management Keeps Up With Market Conditions

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management knows that successful property management companies have prided themselves on being on top of the industry.

They have to know what lies ahead for them and their clients.

When outsourcing to a property management company, they consistently stay informed on market trends and conditions.

This allows property manager to focus on their client’s best interests.

Los Angeles Property Management Is Evolving With Today

Los Angeles Property Management knows that when you hire a property management company, you get that extra time back that allows you to focus on other important task.

Three Factors Property Management Gives:

  • Aware of current industry trends. There are plenty of articles online available with publications about current trends.  A current trend that is getting a lot of attention is the increased rate of evictions in rental properties.
  • They focus on long term business relationships. From a client investor, maintenance contractors, or even suppliers and vendors, the secret is to develop long term relationships in order to keep successful. When you maintain those relationships in order no matter what situation you’re in, the vendors will come through for you and help because they want to also keep a long term relationship.
  • Anticipate your business needs. Now, this doesn’t mean they can predict the future, instead they anticipate your future needs as an investor and what areas of your business that might need change.

Partnering Up

Los Angeles Property Management says there are several ways real estate investors benefit from partnering with a property management company.

Now, if you manage your own properties without help from professionals, you should have a complete understanding about the above factors.

Do keep in mind and think about discussing your business needs with industry professionals.

Looking Towards The Future

Los Angeles Property Management says that while there is much speculation about the future of property management,  three things remain certain:

  1. When you outsource you have plenty of flexibility when it comes to your time.
  2. Social media continues to be a strong marketing tool.
  3. Technology is a pace car in this competition.  

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

Los Angeles Property Management Pros And Cons In Investing

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management knows that refinancing an investment property is an alternative when the ROI yield is low.

Potential saving can be done by checking up on the investment property refinance rates.

Los Angeles Property Management – Refinancing

Pros:

1. Increase In Rental Income

Los Angeles Property Management knows that refinancing an investment property will increase the cash flow in a short amount of time.

This counts for remodels and updates to the property, that means repainting the exteriors and interiors, etc.

Although, it makes sense to strategically focus on short term returns.

Do consider refinancing for financial gain in ways that will benefit for the long term.

2. Refinance Rates

Los Angeles Property Management knows that investment property refinance rates are lower when considering a cash out option.

Cashing out indicates a positive and steady cash flow.

The further the yield is for ROI, it will manifest in a short periods.

You have to require the calculation of all costs, everything made upfront in refinancing has to be broken down for the savings each month.

Cons:

1. Requirements Are Strict

Los Angeles Property Management says, the LTV or the amount of mortgage divided by the property value appraised, will reveal the amount of equity from your property.

With a high LTV ratio, lenders sometimes see it as a high risk investment.

That’s they give a higher interest rate.

When it comes to investment properties, lenders allow borrowers who have 75% LTV.

This is considered stricter compared to primary residences.

The requirements for LTV vary from lender to lender.

2. Interest Rates

Los Angeles Property Management says a high interest rate for investment properties are higher than primary homes.

Normally, interest rates for investment property loans are 0.5% more.

Refinancing an investment property is not a good financial move if the interest rate is higher.

These are essential factors when deciding to refinance.

Since an investment property is not your primary residence, there could be a difference when lenders evaluate these values.

Be sure to explore different lenders, be sure to identify their varying terms, conditions, and requirements.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

Los Angeles Property Management Rules For Success Pt.2

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management Four Rules To Follow:

6. The Right Market

Los Angeles Property Management always start by selecting the best markets that fit their goals.

Most investors will begin by analyzing properties by not scouting their location.

The first thing to do is to choose your city or town that has a base on the health of its housing market and local economy.

Once you make a choice you would narrow things down to the best neighborhoods.

7. One Market At A Time

Los Angeles Property Management focuses on one market at a time, there are times when investors accumulate 3 to 5 income properties per market.

Once you’ve added that to your portfolio, you would diversify into another economical market that is geographically different.

Normally this breaks down to buying real estate in another state.

An underlying reasons for diversification within the same asset class, in this case real estate, is to have your assets spread across different market opportunities.

Every real estate market happens to be local, this means each housing market moves independently from one another.

Diversifying across states helps reduce your risk, as weird as this sounds.

8. Professional Property Management Services

Los Angeles Property Management know that landlords usually don’t manage their own properties, unless you run you actually own and run a management company.

Property management is a thankless job, it requires a complete understanding of tenant landlord laws, combined with good marketing skills, and strong people skills.

9. Direct Investor

Los Angeles Property Management recommends to be a direct investor.

Try not to own real estate through funds, partnerships, or other paper based investments.

You don’t want to own shares or other securities of an entity that you have no control over.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

Los Angeles Property Management Rules For Success Pt.1

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management knows that when it comes to following rules for success in the real world, there will be plenty of trial and error years.

Los Angeles Property Management Ten Rules To Follow:

1. Knowledge

Los Angeles Property Management has learned in today’s day and age, that knowledge is the new currency.

Without the proper knowledge you’ll follow other people’s advice without knowing if it’s valid.

Knowledge helps all investors from being a good investor to becoming a great investor.

2. Achieving Goals

Los Angeles Property Management knows that achieving a goal is different from a wish.

You could wish to be rich, but you have to take serious steps to make success become a reality.

You have to set a clear and specific investment goal to come up with a plan of action to becoming financially independent.

3. Long Term Gains

Los Angeles Property Management says to always invest with a long term set of mind.

Don’t speculate on quick short term gains, although, if the market is hot you might experience double digit gains.

No one ever knows how the market will peak, it’s usually 6 to 9 months after the fact when you’ll find out.

4. Investments Procedures

Los Angeles Property Management says with rare exceptions, always buy investment property when your cash flow is in the positive.

When you have a cash on cash return, this is directly related to the before tax cash flow that comes from your property.

Cash flow is known as the glue that keep your investments running.

5. Market Knowledge

Los Angeles Property Management know that the U.S. is a very large and is made up of hundreds of local real estate markets.

Each market moves up and down due to many local factors.

Be sure to invest in markets when it makes sense for you, don’t do it because you live there or because you have bought property there before.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

Communication With Landlords – Los Angeles Property Management

Los Angeles Property Management

Los Angeles Property Management Services | Los Angeles property manager

Los Angeles Property Management knows that there are a lot of issues which may arise during the tenancy in running a complex.

Whether the landlord or a property manager handles the rental, tenants need to know how to communicate with either party.

Los Angeles Property Management Communicating With All Parties

Los Angeles property management companies listen and anticipate the needs of its renters.

Although there are times when tenant have an emergency and need to report certain issues as soon as possible.

When your property has a maintenance problem, pest infestation, or other structural issues, tenants can be reported to the landlord or property manager for a quick solution.

Act Fast

Los Angeles Property Management know for prompt attention, tenants should be able to send a message directly or through the property management company.

Because of today’s digital age, you could receive a phone call, text message, or an email.

When a property manager receives one of these notices, tenants expect a response within a day.

With the right communication platform in place, it is possible to reach the tenant anytime.

The Landlord Way

Los Angeles Property Management has learned over the years that certain landlords have a preferred procedure in these situations.

Be sure to read the lease carefully to know what to do when a problem happens.

Landlords don’t want problems, they respond to a written request or complaint very quickly.

They know the urgency of the situation.

Now, when sending a letter or notice, it should contain all the necessary details that need to be addressed with the landlord.

There’s no need to use impolite words, doing this a lot of the times will worsen the problem.

Be sure to avoid using them, even if it was to turn into a sour conversation.

Be sure to be straightforward, but, also be carefully choosing the right words to use.

Again, with the proper communication platform in place, all problems and issues can be resolved in a timely manner.

For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, make sure to stay connected with our blog at:http://tgnpropertymanagement.com/blog/

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