Reviews & Testimonials
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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What’s unique about Koreatown?
One of the most culturally diverse neighborhoods in Los Angles, Koreatown is home to a large Korean and Latino population.
K-town, as the residents know it, has the largest contingency of restaurants, 24-hour businesses and nightclubs in the county. You can spend many days in Koreatown and still not see everything!
The area is known for commerce, housing large malls and pop-up shops across its 3 square mile radius. The coffee shops that can be found every few feet provide a much needed rest for serious shoppers.
If you love to be in the middle of a vibey city space that never sleeps – Koreatown is for you.
How much does property management in Koreatown, Los Angeles cost?
We charge between 5 and 6% to manage properties in the area. Contact our offices for detailed pricing information and to ask any questions that are unique to your property. We look forward to hearing from you.
Are there any special sites that you use to list properties?
We use well known sites such as Zillow, Trulia, HotPads, and Apartments, to get you the highest level of exposure. However, if you have a particular site you want your property listed on, please feel free to discuss that with one of our staff.
How do potential tenants view the properties?
We never just leave the tenant to access the property on their own. We always have a team member on hand to view the property with potential renters and answer their questions. This ensures that the property is safe and secure.
What kind of services can you provide?
We off a large number of property management services to Koreatown landlords and tenants as follows:
- Market & rent vacancies
- Repair and maintain units
- Remodel units as needed
- Oversee ADU construction
- Maintain property insurance
- Commercial property management
- Rental Agreements signed
- Collect rent from tenants and communicate with tenants
- Collect rental deposits
- Pay invoices
- Communicate with vendors
- Bookkeeping and leasing responsibilities
Who do you use for repairs?
Years of experience in property management services have let us find the best crews for every scenario, saving landlords on maintenance costs. At the same time, tenants receive the best care and trusted repairs.
How big is your company?
We are a tight knit team of 10 people. Our people come highly skilled in the property industry.
Is there a particular software you use for bookkeeping?
Yes. Our bookkeeper utilizes QuickBooks to manage property finances. This software provides us with reports and financial information that we pass on to you. You can expect to receive a profit and loss statement, rental collection statement and copies of invoices.
How can the tenants pay rent?
Tenants can request a personal pick-up or log onto our tenant portal to pay their rent. They can also pay by check. We are encouraging direct payments on the portal now as this is a more effective rent collection method.
How many units do you manage?
Property owners around LA trust us with just under 500 rental units and this number is growing. We have a total of 34 buildings that we manage across LA.
How will you handle emergencies outside of office hours?
We are open for business Monday to Friday from 9 am – 5 pm. However, we give the tenants and landlords a special list of numbers that they can call if there is an emergency. We allocate staff to stand by 7 days a week so that always someone is available. We understand emergencies don’t wait for office hours.
Are you licensed and insured?
Yes, all property management companies must be licensed to operate and be insured. We also belong to a number of rental associations that regulate the property industry. You can find details on our website.
What is your tenant management process?
When a suitable tenant indicates their desire to rent a property, we begin by completing paperwork and doing a background check. The tenant is asked to pay a deposit by a set date.
Next, the tenant is asked to sign the rental agreement and do checks on the property along with a property manager. If all this is in order, the tenant will move in on the agreed date. We do annual property checks on the property. Any problems with the tenant are discussed with you before action is taken.
Can you help when landlord-tenant problems arise?
Yes, we have skilled staff who have handled matters like this before, and we will be happy to assist in maintaining a good relationship between landlords and tenants.