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 property management in Santa Monica Cost?
Our standard property management fee is between 5 and 6%. This percentage is subject to change based on factors such as location and the number of units in the property. Contact our professional staff for accurate property management cost information and let us take the stress out of owning a building in Santa Monica.
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 include the location in Santa Monica and the number of units in the property. Speak with Lotus property managers to see if your building qualifies for free vacancy leasing.
What methods do you use for listing vacancies?
Our Santa Monica vacancies are listed on the most popular real estate sites, including Zillow, Trulia, HotPads, and Apartments to maximize your exposure. Your property is also posted on our site and added sent to potential applicants from other properties. We strive to keep your units filled with high-quality tenants.
How do you show your vacancies? Lockbox? In-person? Remote?
Our team shows Santa Monica 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?
Our knowledgeable, professional property management staff delivers a variety of services to Santa Monica property owners. Lotus West Properties can help you:
- Collect rent from tenants
- Repair and maintain units
- 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
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 with the same respect and priority, whether we own the building or manage it for a client.
Who do you use for repairs?
Most of the repairs are completed by Lotus’ handymen to reduce our operating costs. When it comes to bigger jobs and permit-related work, we hand the task over to the professionals. We have a set of expert contractors that we call when needed that our team has built long-standing relationships with. These relationships let us get the best deals and priority service!
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 Santa Monica 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 Santa Monica property.
What methods do you accept rent by?
Santa Monica tenants can submit their rent payment through a mailed check or by logging into the payment portal on our website. We can also pick up a check at the property if that is more convenient
How many units do you manage?
Lotus West Properties manages just under 500 properties and 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 property management services let us provide renters and owners with a fluid, pleasant experience.
Where are your buildings located?
Lotus maintains properties in West Los Angeles, Santa Monica, Culver City, Venice, Westwood, And Hollywood. Contact our friendly staff and find out if Lotus West Properties manages in your area.
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?
If you are ever in an emergency, our team will be available. We provide tenants with phone numbers and emails for both the staff and handymen, so there will be someone to help when you need it.
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?
Yes, our highly professional staff excels in tough tenant situations so you don’t have to. We welcome the chance to help every tenant until their departure, even if they’re troublesome.
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. It might not be in the news yet, but Lotus has the scoop (and maybe on the news talking about it).