Apartment Property Management
Apartment Property Management
Providing the comforts of a house together with various other facilities, apartments are the popular choice among the other options for a home. Being an apartment complex or building owner is not an easy task. Not only do you have to meet the needs and expectations of your tenants, while at the same time making a profit and dealing with emergency issues. These issues can arise when dealing with the actual apartment buildings and also the surrounding grounds that the building or complex sits on.
Due to the many complexities of managing an apartment building or complex, apartment owners in Southern California need to hire a reputable apartment management company to manage their apartment buildings for them. A quality apartment management company can take over the day-to-day management of your apartment building, saving you time and worry. Understanding what a great apartment property management company, LBPM can do for you and your bottom dollar will help you achieve the profits you are wanting from your investment apartment property. Since 1989, LBPM has been a leader in Los Angeles Property Management, specializing in the management of apartment buildings ranging from “mom & pop” four-plexes to 1,200-unit mega-complexes, and everything in between. Our client-centered focus makes every client, large and small, feel like a VIP. LBPM is widely considered one of the best apartment property management companies for the past 30 years in Los Angeles and the San Fernando Valley.
Apartment Management Services
Many clients come to LBPM for the same reason: they’d rather leave the day-to-day challenges of owning rental property to someone else. Filling vacancies, dealing with problem tenants, and finding capable managers can be difficult and time-consuming tasks. Let us spare you the grief as our team of experienced professionals utilizes proven strategies for filling vacancies quickly and dealing with problem tenants in a lawful and diplomatic way.
Marketing and Advertising
LB property management team is laser-focused on reaching the potential high-quality tenants possible so that we can find the right long-term tenants for your property and do market analysis as well to determine the best rent value. We use a combination of local advertising and signage in tandem with an attractive eye-catching property web page within our own website for maximum exposure of your property including the interior of the unit, as well as the common areas that provide potential tenants information they need to make an informed decision. Our apartment management company does everything possible to spotlight the best features of your property so we can attract the right tenants for your unit including pertinent information, location, property description, floor plan, amenities. The LBPM property management team is laser-focused on reaching the most potentially high-quality tenants possible so that we can find the right long-term tenants for your property and do a market analysis, as well to determine the best rent value. We use a combination of local advertising and signage in tandem with an attractive eye-catching property web page within our own website for maximum exposure of your property including the interior of the unit, as well as the common areas that provide potential tenants the information they need to make an informed decision. Our apartment management company does everything possible to spotlight the best features of your property so we can attract the right tenants for your unit including pertinent information, location, property description, floor plan, and amenities.
Our goal is to get those empty units rented as soon as possible with long-term responsible tenants so that you can experience the full income potential of your property for today and many years to come. Our innovative marketing and advertising methods will result in successfully finding those tenants that will enjoy living in your apartment building.
Tenant Acquisition and Tenant Screening Services
Once our marketing and advertising campaign for your apartment building vacancies are complete we then begin the task of acquiring the best possible tenants to rent those vacant units. Our tenant acquisition and screening services are designed to find you the highest quality tenants who have the income to pay their rent on time and will take the utmost care of the unit they are renting. Our screening process includes a thorough check of the potential tenant’s employment history and income as well as a reference check from past landlords. Part of our screening process is designed to discover if the tenant is interested in a long-term tenancy so that you can count on potential income from each unit for an extended period. Our goal is to find the right tenant for each vacant unit in your apartment building.
Rent and Fee Collection
One of the most difficult jobs apartment owners who manage their own buildings have is collecting the rent from multiple tenants, sending out those late rent payment notifications and then trying to collect those late fees. The entire rent collection process can be both time consuming and frustrating. Having an apartment management team that has streamlined the entire rent and fee collection process can make your life a whole lot easier. Our apartment management team has streamlined the rent and fee collection process. We have an automatic tenant billing system and keep on top of notifications and the fees associated with late rent payments. It is a major part of our duty to you to make sure that you make the highest profit possible out of apartment complex and keeping up on the collection of rent and fees is an important part of their duty.
Rule and Regulation Expertise
During the lease negotiation and signing we make sure that your tenants understand all the rules and regulations they need to follow as tenants of your property. Many of these rules are legally necessary and binding and others are simply rules designed to protect the value of your property. Not every tenant will follow the rules they have agreed to, which is why our rule and regulation expertise is so important to many of our clients. Our rule enforcement experts make frequent checks to ensure your tenants are not violating the rules of their lease. If we do find violations, we employ low key techniques to enforce the rules to help prevent causing undue tension with your tenants. We also can help you to enforce site-specific rules you have set for each of your individual apartment complexes.
Rental Unit Preparation and Inspection
In order to place the best tenants in those empty rental units, our apartment management company ensures that each unit is at its very best when potential tenants view your apartment. Our rental unit preparation and inspection service are designed to both keep each apartment in excellent condition and to appeal to prospective tenants. We oversee a comprehensive Move-in or Move-out Inspection both when a tenant moves into an apartment and prior to potential tenants viewing the apartment in order to ensure that we don’t miss even the tiny detail. We prepare each unit for a new tenant by seeing to it that the apartment is thoroughly cleaned, and any repairs are taken care of immediately. We then do a quick inspection before a potential tenant looks at the apartment to ensure that everything is in order and looks sparkling clean and well dusted. Our floor to ceiling rental unit preparation helps to keep your apartment building looking it’s best.
Repair and Maintenance
In order for your apartment complex to command the highest possible rent it needs to be kept in tip-top condition. Our repair and maintenance service involve a number of steps designed to keep your apartment complex and grounds looking their best at all times. One important step we take is to make frequent inspections to evaluate what maintenance and repairs need to be done. We also check with the tenants to make sure they are living up to their maintenance obligations according to the lease. In addition, we have a staff member on call 24 hours a day 7 days a week to take any tenants to call for repairs so that we can make those repairs as speedily as possible. Many of our team members work through the night and over the weekend providing after-hours emergency support to our properties. If a pipe bursts in the middle of the night, we’re on it so the tenants will have a hot shower in the morning. We can handle most repairs in-house and we also work with local contractors to keep repair costs as low as possible should we need to a third party to make the necessary repairs.
Southern California, like every other section of the country has certain Local, State and Federal Laws that apply to rental properties including rental buildings. These legal issues may cover such topics as the habitability of your property, notification of late rent, notices to quit the property, and eviction properties as well as laws governing safety issues. Our apartment management team has been serving Southern California including Los Angeles and the San Fernando Valley for many years and is knowledgeable regarding all the laws and regulations governing the renting of units in apartment complexes. Our understanding of the laws governing your apartment complex rentals allows us to help you stay in compliance with all rules and laws governing your property so that you won’t be faced with fines or more serious penalties. We keep detailed records of any violations that may occur and what we do to correct them, so you can rest assured that your property is in compliance with all local, state and federal laws for your apartment buildings or complexes.
Accounting and Financial Reports
Our accounting team is highly experienced and dedicated to providing you with complete bookkeeping and accounting record for your apartment building and complex. And, the day never ends for our accounting department, allowing for invoices to be entered into our payables system within twenty-four hours of receipt, ready for review and payment. Timely approval and payment of invoices keep property vendors happy, which translates into faster response time and better quality of service. We take care of every single detail of your income and expenses from basic monthly bookkeeping duties and expense reports to the year-end income statements for your apartment complex. Our payable system requires us to get official approval and the posting of all debts before we send out any payments.
Our monthly reports detail each expense in every category as well as the income generated by each and every unit. We continually monitor your cash flow and verify all income and expenses. We also identify possible problems that could result in reduced income and suggest solutions to those problems. Our highly detailed financial reports allow you to see exact income your apartment complex is generating, and where your major expenses are coming from. We do everything possible to ensure that you are kept fully apprised of the financial health of your apartment building or complex.
Contact LBPM for your Apartment Management Needs Today!
It’s hard to substitute the level of care and attention an owner gives to his or her own property. But, there are many things a well-established apartment management company can offer that can really make the difference in the performance of a property. We pride ourselves on developing and refining these benefits, so the apartment owner sees value in everything we do.
For all your multi-family and apartment property management, leasing and consulting needs, contact our apartment property management experts or call us at 818-981-1802.
Our Happy Clients
"LBPM has managed my apartments for about 18 years, and I am happy to report they are performing the best ever. During the last five years, the economy has presented many challenges. Thanks to their ideas and guidance, we have maintained a high occupancy (much higher than the averages reported by the experts) and found many areas to minimize expenses resulting in a very profitable bottom line."
"For over 20 years now the LB team has been a great resource to our business and has assisted us in effectively working with tenants, resolving administrative issues and always addressed concerns in an expedient manner. We are glad to have them on our team."
"Our time spent managing our two buildings has been drastically reduced from about 30 hours per week to less than one hour."