Santa Monica Property Management
Lotus West Properties | Serving Santa Monica for over 20 years
AWARDED AAGLA’S TOP NEW PROPERTY MANAGEMENT FIRM 2020-21
LOTUS WEST PROPERTIES IN SANTA MONICA
Lotus West Properties is the premier Santa Monica property management company for multifamily income properties in the greater Los Angeles area. Our portfolio encompasses properties we both own and manage, as well as those managed on behalf of other owners. At present, we oversee more than 1,000 units and are continually acquiring new clients. Our primary objective is to optimize cash flow by raising income, maintaining high occupancy rates, and reducing expenses through effective management and leveraging our in-house repair team’s expertise.
Our priority is to establish and uphold transparent and reliable relationships with both our clients and tenants while providing individualized care and attention to each property under our management.
If you are a property owner seeking personalized and devoted management for your income-generating property, regardless of its size, please reach out to us to discuss your requirements.
Reviews & Testimonials
Apartment Owners Association of California, Inc.
Apartment Association of Greater Los Angeles
California Rental Housing Association
National Apartment Association
Better Business Bureau
Yelp, Inc.
Expertise.com
Forbes Councils, LLC.
Entrepreneur Magazine.
Our Blog
How does Santa Monica Rent Control affect your Rental Property?
In the ever-evolving world of property investment, factors like rent control hold substantial weight for investors, especially those who manage multiple properties. Santa Monica, a vibrant coastal city renowned for its real estate potential, has implemented a robust...
Commercial Rent Control: Los Angeles – The Ins and Outs
Amidst discussions surrounding the statewide rent control law and its associated regulations, a unique aspect emerges when we shift our focus to commercial spaces. Unlike their residential counterparts, commercial properties navigate a distinctive set of rules when it...
Los Angeles Rent Control Zip Codes
In the vast expanse of Los Angeles County, where finding a decent place to live can be a real challenge, rent control plays a big role. Find out which areas are affected by new rent stabilization ordinances and how you can get ahead of the increases as a landlord. ...
FAQ
How much does Santa Monica Property Management cost?
Our standard property management fee is between 5 and 6%. This percentage is subject to change based on 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 investment property in Santa Monica.
What are the typical lease terms for residential and commercial properties in Santa Monica?
Residential lease terms are typically for one year but can also be for 6 or 9 months. Commercial lease terms can vary from 3 to 10 years, depending on the property and the terms agreed upon by the landlord and tenant.
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.
Can property owners increase the rent during the lease term?
In Santa Monica, Ca, a landlord can only increase rent if it is specified in the lease agreement. If the lease agreement does not specify a rent increase, the landlord must wait until the end of the lease term to increase rent.
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 sent to potential applicants. 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 property management services can you provide?
As a property management service provider, we offer a comprehensive range of services to ensure the smooth operation of your property.
Our services include collecting rent from tenants, repairing and maintaining units, remodeling units as needed, overseeing ADU construction, maintaining property insurance, upkeeping common areas, paying invoices, overseeing retrofitting, collecting rental deposits, communicating with vendors, communicating with tenants, and handling bookkeeping and leasing responsibilities.
Our goal is to make your life easier and ensure your property runs efficiently and profitably.
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?
Lotus’ handymen complete most of the repairs 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 we call when needed, and our team has built long-standing relationships. 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?
Our property management services in Santa Monica include regular reporting to keep our clients informed and organized. We send a suite of monthly reports, including the Profit & Loss (P&L) report, rent collection report, all banking statements, and invoice copies.
We aim to provide transparent and regular communication to ensure a seamless experience for our clients while we manage their property in Santa Monica.
What methods do you accept rent by?
When collecting rent, Lotus property management makes it as easy as possible for tenants.
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.
What type of properties do you manage?
Our property management services cover many Santa Monica properties, including apartments, condominiums, townhomes, single family homes and commercial properties.
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?
Lotus West Properties is fully licensed and insured to provide property management services. We place a strong emphasis on following all relevant regulations and requirements to provide our clients with peace of mind that their property is being managed professionally and responsibly.
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 in 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).
What is special about Santa Monica?
Santa Monica is a vibrant beachfront city in Los Angeles County, California.
Known for its world-famous Santa Monica pier, stunning beaches, and thriving arts and culture scene, it’s a popular destination for tourists and locals alike. The city boasts a diverse selection of dining options, shopping centers, and entertainment venues, making it a great place to live, work, and play.
Santa Monica has something to offer everyone, whether you’re a young professional, a family, or a retiree. With its sunny weather, active lifestyle, and easy access to the rest of Los Angeles, Santa Monica is the perfect place to call home.
The rental property scene is diverse and dynamic, offering residents a wide range of options. From cozy studio apartments to spacious family homes, there is something for every taste and budget.
Additionally, Santa Monica’s strong economy, well-regarded schools, and quality of life attract renters worldwide, leading to a competitive rental market.
Despite the high demand, experienced property companies can help navigate the rental scene, finding the perfect place for their clients while providing valuable support throughout the leasing process.
Rental prices vary greatly depending on the neighborhood, proximity to the beach, and property type. Despite the high cost of living, many residents consider it a fair trade-off for the city’s high-quality amenities, excellent weather, and prime location.
With the help of knowledgeable property management services, renters can find a property that fits their budget and lifestyle, ensuring they enjoy all that Santa Monica has to offer.
