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 is the cost associated with you managing property in Venice?
Lotus West Properties charges a management fee of 5-6% for managing Venice rental property.
This amount will vary based on the number of units and the location of your property. Seasonal and annual rentals are also charged differently. For a free rental analysis, contact our Venice area specialists and let us walk you through our process.
How much rent do you charge?
Rentals depend on the location and type of property. The number of rooms and facilities will also affect the rental price.
Talk to our Venice property management experts and find accurate, detailed information about our services.
What platforms do you use for listing vacancies?
Some of the methods used by Lotus West Properties include listing your property on the internet’s most visited real estate websites, including Zillow, Trulia, HotPads, and Apartments, to get you the highest level of exposure.
We have a website on which we will list your property, which means that current and new tenants always have a home base to view properties.
How do you show your vacancies? Lockbox? In-person? Remote?
Our team shows Venice 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 prospective tenants 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 Venice landlords and tenants to make renting effortless. Our knowledgeable staff can assist you with:
- Market & rent vacancies
- 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, whether we own it or manage it for a client, with the same respect and priority that we would our own.
Who does your maintenance and repairs?
Lotus West Properties has its own crew of maintenance professionals who handle routine maintenance and minor repairs. We call in a licensed team for more severe repairs and permit-related work.
The contacts we have made during the years we have been in the industry give us a vast list of suppliers and contractors to use in the event of a specialized repair. Maintenance requests can be made via our office.
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 Venice property owners each month are P&L, rent collection, all banking statements, and invoice copies. Our team ensures that your administration is flawless as long as we manage your 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 1,000 properties and this number is growing daily. We are always on the lookout for new prospects to help property owners make renting a pleasure for themselves and their tenants.
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 office hours are 9 am – 5 pm, Monday to Friday. We have a backup plan for emergencies and all tenants have our phone numbers and emails. Both our office staff and maintenance team are on call to help in an emergency.
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?
Absolutely. We don’t take chances with your peace of mind, so 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.
How do you check for good tenants?
Tenant placement is vital to us because we want to ensure good results for owners and tenants. We screen tenant needs to provide the best property for them. A lease agreement ensures that all tenants know their rights and what is expected of them.
What measures do you take to deal with problem tenants?
Unfortunately, being a landlord will inevitably mean dealing with problem tenants at some point. When this occurs, Lotus West Properties has a highly experienced and professional team to help you deal with it.
We have experience in dealing with tough tenants. We are happy to lend you all our experience and skill set to make the best out of a bad situation. Just dial our number and we will be there to help.
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).
What is special about Venice real estate?
Venice got its name in 1905 when wealthy developer Abbot Kinney founded the beach resort town. Originally called Venice of America, his idea was to re-create the canals of Venice, Italy. Soon around 3000 residents flocked to this area for its entertainment and seaside views.
Today with a total population of around 55 000, Venice is still a seaside resort town well known for its beach and ocean-front promenade.
Venice’s properties are highly sought after because it is one of the most challenging places in the USA to build new housing. Many of the properties have their principal entries from pedestrian-only streets.
Residents enjoy the Intracoastal waterway (canal), a local market, a famous oyster bar and Venice Beach, a global tourist destination.
Incomes in Venice are above the county average, allowing residents to purchase or rent beautiful properties in this young, family-orientated town where the median age is 35.
It has a bohemian feel because it is a preferred location for creative artists. A walk along the promenade provides plenty of exciting and culturally diverse displays and artists showcasing their talent. The Venice Boardwalk murals are well known for displaying the works of famous artists.
The properties in Venice are as diverse as its people and culture, with anything from studio apartments to three-bedroom condos for rent. The layouts of the newer properties are modern, with clean lines and lots of light. Older properties provide an eclectic yet homely feel authentic to the area.
Contact us today if you are a real estate investor or owner of a property wanting to maximize your income. Property management companies vary in reputation, but ours speaks for itself. We are considered a premium management company in Venice, LA.