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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Why would landlords and tenants want to invest in the Beverlywood area?
Beverlywood has a unique standing in the Los Angeles area. To start, the median home value is $1,836, 845 whereas the national average is $244 000. Most residents in the neighborhood own their homes, and some keep these homes as rental properties.
In recent years the area has seen smaller homes diminish as bigger family homes have been built to accommodate the resident’s needs.
For landlords, the appeal is the rental income which is higher than the national average of $1163 a month. Typically property rentals average $2148 a month.
Surrounding Beverlywood are the affluent neighborhoods of Beverly Hills, Century City and Castle Heights.
Residents enjoy restaurants, parks and the schools that the area has to offer. It has been ranked #1 out of the 112 best places to raise a family in LA.
With Beverley Hills and Santa Monica close by, this area offers a mixture of quiet, affluence, and proximity to great entertainment venues.
How much does Beverlywood property management Cost?
It’s best to contact our experts for costs regarding this area. We will do a full analysis of your property and your personal needs and provide you with the financial information. A management fee of 5-6% of rental income is a good starting point for properties in this area.
What methods do you use to maximize exposure of properties to renters?
We use a variety of methods, such as our own website, online listings, social media, and networking in Beverlywood, to attract the best tenants. Some of the online platforms we use are: Zillow, Trulia, HotPads, and Apartments.
How will you show the property to tenants?
Our team in Beverlywood uses a variety of methods to accommodate everyone’s needs. We never use lockboxes or impersonal methods, so we always get a feel for the potential renter and start a successful relationship.
What services can you provide for me as a landlord?
In Beverlywood, landlords can expect the following support:
- Marketing and renting of properties
- Drawing up lease agreements, collection of deposits and collection of rent from tenants
- Our in-house team does all maintenance and repair work
- Maintainance of property insurance
- All communication handled by our office, e.g., vendors, contractors, tenants
- Complete financial reporting function handled by our bookkeeper.
How do you handle maintenance requests?
A dedicated maintenance team handles maintenance requests from landlords and tenants. All queries can be directed to our office or emergency contacts for after hours repairs.
We have established excellent relationships with top contractors in the area over the years and can provide peace of mind for all parties.
Can your company handle the management of more than one unit at a time?
Lotus West Properties has a team of highly experienced professionals. Our team of 10 people comes with decades of experience in the industry, and a dedicated property manager can be allocated to buildings with more than one unit to manage.
We are also able to manage units in more than one location.
Do you offer tenant screening services?
Yes, we offer thorough tenant screening services to ensure we place only the best tenants in our managed properties. Our screening process includes a background check, credit check, and rental history verification.
What kind of financial reports can I expect as a landlord?
We send Beverlywood property owners P&L, rent collection, bank statements, and invoice copies. If there are other reports you need, you can contact our offices.
Do you offer online rent payments?
Yes, we offer online rent payments to make it easy and convenient for tenants to pay their rent. We can also collect checks from tenants on request.
What is your policy on late rent payments?
We have a strict policy on late rent payments and follow a standard procedure to ensure that rent is paid on time.
How many units do you manage?
Lotus West Properties expertly manage just under 500 properties. We are continually working in the Beverlywood area to secure new properties to meet the needs of tenants.
Are you familiar with current eviction laws and legislation?
We are proud that 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.
What are your business hours in Beverlywood?
Our typical office hours are 9-5, but our team is always available in emergency situations. Tenants 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.