Although investors in Los Angeles residential real estate, we are based overseas. So we needed a local management team that would provide a reliable and comprehensive service. Preferably a family-led operation which would also ensure continuity with the senior management. A Los Angeles realtor friend recommended Lotus. He has been proved absolutely right.
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How much does Beverly Hills property management Cost?
Lotus West Properties charges a management fee of 5-6% for the management of Beverly Hills rental properties. This amount may vary between situations based on the number of units and the location of your property. For detailed property management pricing information, contact our Beverly Hills specialists and let us walk you through our process.
How much do you charge for leasing vacancies?
Our fee for vacancy leasing varies by the situation but may be complementary in some cases. Variables including the Beverly Hills property location and the number of units in the property. Talk to our Beverly Hills property management experts and find accurate, detailed information about our services.
What methods do you use for listing vacancies?
Some of the methods used by Lotus West Properties include listing your property on the most visited real estate websites on the internet, including Zillow, Trulia, HotPads, and Apartments to get you the highest level of exposure. The property will also be listed on our website and shown to potential applicants who are interested in renting in your area. Our professionals cover all the bases for you so the property can keep earning.
How do you show your vacancies? Lockbox? In-person? Remote?
Our team shows Beverly Hills property listings in-person or via Facetime so we can be there for any questions or concerns. We never use lockboxes or impersonal methods, so we always get a feel for the potential renter and start a successful relationship.
What kind of services can you provide?
Lotus West Properties offers a variety of high-quality, professional property management services to Beverly Hills landlords and tenants to make renting effortless. Our knowledgeable staff can assist you with the following services:
- Market & rent vacancies
- Collect rent from tenants
- Repair and maintenance
- Remodel units as needed
- Oversee ADU construction
- Maintain property insurance
- Upkeep common areas
- Pay invoices
- Oversee retrofitting
- Collect rental deposits
- Communicate with vendors
- Communicate with tenants
- Bookkeeping and leasing responsibilities
- Commercial property management
By handling various aspects of your investment or rental property, we help our clients maximize their investments while shielding them from added stress.
Do you own any of the buildings you manage?
Lotus maintains ownership of some of the buildings we rent, but you would never know the difference. We treat every building that we manage, whether we own it or manage it for a client, with the same respect and priority that we would our own.
Who do you use for repairs?
Lotus West Properties maintains its own crew of maintenance professionals, who are fully prepared to handle routine maintenance and smaller repairs. For more severe repairs and permit-related work, we call in a licensed team.
Years of experience in the property management services have let us find the best crews for every scenario, letting landlords save on maintenance costs while tenants receive the best care and trusted repairs.
How many people work in your company?
Lotus West Properties maintains a tight-knit team of about ten people.
What software do you use for bookkeeping?
Our bookkeeper utilizes Quickbooks to manage property finances. This allows us to be flexible and effective at bookkeeping for your property.
What kind of reports do you send? How often?
Some of the reports that we send to our Beverly Hills property owners each month are P&L, rent collection, all banking statements, and invoice copies. Our professionals ensure that both sides can easily remain organized for as long as we are managing your Beverly Hills property.
What methods do you accept rent by?
Lotus West Properties tenants may submit their rent payment by logging into their payment portal or by mailing a check to our office. Tenants can also request that we pick up a check at the property for the most convenient payment experience.
How many units do you manage?
Lotus West Properties manages just under 500 properties and is growing. We are always looking for new opportunities to help property owners provide the best service and keep operating costs minimized.
How many buildings do you manage?
Our Property management experts are in charge of the success of 34 buildings and counting. Our Beverly Hills property management services let us provide renters and owners with a fluid, pleasant experience.
Where are your buildings located?
What are your business hours?
Our typical office hours are 9-5, but we strive to be available all the time for any emergencies.
If there is an emergency after hours will someone respond?
Our team is always available in emergency situations. Tenants in Lotus West Properties have access to the phone numbers and emails of our office staff and maintenance crew, so there is always someone who can help when needed.
Are you licensed and insured?
Yes, Lotus West Properties is licensed and insured. We take great care to ensure that everything is by the books and exactly as it should be when managing your property.
Are you good at dealing with problem tenants?
Unfortunately, problem tenants are almost guaranteed to be a part of your landlord experience at some point, and when you end up with one, Lotus West Properties is the team you want dealing with them
Our professionals specialize in tough tenants, lending you the experience and delicate skill set needed to make the best out of a bad situation. Call our property managers today and find out how we can help you with problematic tenants.
Are you familiar with current eviction laws and legislation?
The Lotus team is well versed with current tenant eviction laws and legislation. The owner of Lotus West Properties is on the board of AAGLA (Apartment Association of Greater Los Angeles) and always has the most up-to-date information regarding legislation and issues.
We thus do our due diligence before proceeding with any legal issue regarding our property management services on behalf of our clients.
It might not be in the news yet, but Lotus has the scoop (and maybe on the news talking about it).
What experience do you have in Beverly Hills property management?
Lotus West has been one of the premier property management companies in Los Angeles county for over two decades with over 1,000 units under management.
Whether it’s an investment home that needs a property manager to do a routine inspection and daily upkeep or a commercial property that requires help with rent collections, we have you covered.
What are the property tax rates in Beverly Hills?
Property tax rates in Beverly Hills are determined by the county assessor’s office and are based on the value of your property.
The tax rate in Beverly Hills is typically higher than in other parts of the county, due to the high property values in the area. It is important to note that property tax rates may change from year to year, so it is a good idea to stay informed about any updates to the tax rate.
Are there any specific zoning regulations I should be aware of as a property owner in Beverly Hills?
Beverly Hills has a number of zoning regulations that property owners should be aware of. These regulations dictate how land can be used and can impact the types of improvements that can be made to a property.
It is a good idea to familiarize yourself with the zoning regulations in Beverly Hills to ensure that you are in compliance and to avoid any potential issues with your property.
How do I obtain a permit for renovations or improvements to my property in Beverly Hills?
To obtain a permit for renovations or improvements to your property in Beverly Hills, you will need to submit an application to the city’s building and safety department.
The application process may vary depending on the nature and scope of the work you are planning to do, so it is a good idea to check with the department for specific requirements.
You may also need to provide plans and drawings of the proposed work and pay any applicable fees.
What is the average cost of homeowners insurance in Beverly Hills?
The cost of homeowners insurance in Beverly Hills can vary significantly depending on a number of factors, including the value of your home, its location, and the level of coverage you need.
On average, homeowners insurance in Beverly Hills may cost more than in other parts of the state due to the high property values in the area. It is a good idea to shop around and compare quotes from multiple insurance providers to find the best coverage at a competitive price.
Are there any homeowner association (HOA) fees for properties in Beverly Hills?
Some properties in Beverly Hills may be subject to homeowner association (HOA) fees, which are used to fund common area maintenance, community amenities, and other shared expenses.
If your property is part of an HOA, you will be required to pay these fees on a regular basis. It is important to understand any HOA fees associated with your property and to budget accordingly.
What is special about Beverly Hills real estate?
Beverly Hills is the 251st most populous city in the state of California, with nearly 33 000 people calling it home.
It has become home to many Hollywood celebrities since movie stars Mary Pickford and Douglas Fairbanks built their 18-acre estate, Pickfair, in San Ysidro Canyon.
Today, celebrities like Simon Cowell, Taylor Swift and Elton John, to name a few, own homes in this picturesque city.
Housing prices increase in the city year after year, partly fueled by the allure of Hollywood icons calling Santa Monica and Beverly Hills, CA, home. The popular TV show from the 90’s Beverly hills 90210, also opened people’s minds and hearts to the idea of mingling with the stars.
And so today, the living expenses in Beverly hills are high, with housing expenses 571% higher than the national average.
But there are other reasons why property in Beverly Hills and surrounding areas in Southern California are so desirable.
Apart from the idyllic weather (Beverly Hills gets about 278 sunny days a year), the city is known for its fantastic infrastructure, vibrant food scene and highly-rated public schools.
All these factors make Beverly hills the perfect choice for investment property. In fact, 56% of all housing units in the popular suburb are rental properties.
If you already own a home or are considering investing, contact Lotus Property today for a customized management plan for your property.