• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • Twitter
  • YouTube

Owner Login | Tenant Login | Get a quote: 323-255-9400 ext. 4

Los Angeles Property Management Group logo

Los Angeles Property Management Group

Property management in Los Angeles & the Valley, done right.

  • Residential
    • Services Provided
    • Single Family Residence
    • Luxury Property Management
    • Tenant Selection
    • Maintenance
    • Video Marketing Your Property
    • On-Site Managers
    • Agent Referral Program
  • Commercial
    • Services Provided
    • Maintenance
    • Agent Referral Program
  • Why Choose LAPMG
    • Mission Statement
    • Recent Reviews
    • Awards and Recognition
    • Why May 12th Matters
    • True Property Management Horror Stories
    • Video Resources
  • Articles
    • David Crown in Forbes
    • Q & A with CEO David Crown
    • LAPMG Talks
    • Case Studies
    • FAQ
    • Featured Article of the Month
    • Featured Elsewhere
    • Industry Blog
  • Areas Served
    • Burbank
    • Culver City
    • Glendale
    • Hawthorne
    • Inglewood
    • Los Angeles
    • North Hollywood
    • Pasadena
    • San Fernando Valley
    • Santa Monica
    • Sherman Oaks
    • Studio City
    • West Hollywood
  • Contact
    • Our Team
    • Portal Logins
    • Prospective Tenants
    • Employee of the Month
    • Careers
    • Privacy Policy

5 Ways Landlords Can Save Money Being a Property Manager

August 8, 2018

5 Ways Landlords Can Save Money Being a Property Manager

You own a property in Los Angeles, but you don’t want to hire a property manager? that’s fine. You need to learn how top Los Angeles property management companies are able to save money when managing a property.

Hiring a manager to manage your property in Los Angeles is going to make your job as a landlord easier. However, if you have the time and you are willing to learn what it takes to manage a property, this article will point you in the right direction. Keep on reading to find out how you can save money by being your own property manager.

 

1. Learn How To Do Basic Repairs
The first thing you will discover when you decide to manage a property in  Burbank is that repairs are going to take a lot of your money. To save money, you cannot keep on calling a vendor anytime something needs to be repaired. You can learn some basic repairs you can do.

Of course, we are not talking about a major stuff. You can learn to do basic repairs like unclogging kitchen sinks, repairing drywall, caulking in the bathroom, or losing a stuck window. However, make sure you leave major repairs to experienced vendors to handle.

 

2. Find and Screen Applicants Yourself
Finding new tenants is not always easy. In fact, this is a job you can leave for professional property managers. However, if you want to save money, you can look for tenants yourself and avoid finder’s fee which is usually charged by property managers.

You can find new tenants by listing your vacant property on a various property listing sites. You can also list on websites such as HotPads, Trulia, and Zillow.

 

3. Compare Contractors
Don’t just hire the first contractor you see on the internet. With a little more search, you can be able to find a contractor that can give you quality work at an affordable price.

There are some websites where you can find various contractors. Website such as homeadvisor.com allows you to read reviews and even get quotes from different contractors. You can then choose the contractor that you want to work with.

4. Show a Property While It’s Occupied
To avoid losing rent, you can show your property while it is still being occupied. Most owners of property in Los Angeles like to show property only when it is vacant. However, this could cost you a significant amount of lost rent.

To avoid lost rent, make an arrangement with the outgoing tenant while he is still living in the apartment to show the property to an incoming tenant. Make sure you communicate with your current tenant. You need to be as respectful as possible when showing the property. of course, it is expected that you should at least give him 24 hours notice. Note that if your tenant has the place in a terrible condition, you may need to wait until he moves out before showing the property.

5. Act As Your Own Property Manager
When you hire a property manager, you will need to pay about 10% monthly fee for regular management services. However, they will provide you with a complete service such as looking for a tenant, screening tenant, rent collection, repairs, and evictions. The services of property managers allow you to sit down and just collect money into your account. However, you can be able to avoid this 10% monthly charge when you become your own property manager.

Filed Under: LA Property Management News, Property Management Education, Property Management FAQ, Residential Properties Tagged With: landlord tips, property management burbank

Primary Sidebar

    PROPERTY OWNERS: CONTACT US FOR A FAST FREE QUOTE

    (This space is not for tenant contact)








    Loading...

    Footer

    Award-winning management means:

    Best property management in Los Angeles - Our Awards

    • Maximum profits.
    • Responsive service.
    • Vacancies filled quickly.
    • Accurate understandable monthly reports.

    Proud Members of:

    AAGLA AOACA AIR Commercial Real Estate Association Member BOMA 2022 Member of Forbes Real Estate Council

    Contact Information

    
    

    YouTube LAPMG   Facebook LAPMG   Twitter LAPMG

    Los Angeles Property Management Group
    10960 Ventura Boulevard Second Floor
    Los Angeles, CA 91604
    Phone: 323-255-9400
    Contact Us

    Los Angeles Property Management Group is registered with the California Bureau of Real Estate License #01931033.
    Kyle Crown License #01936385
    David Crown License #01157354

    © 2023 Los Angeles Property Management Group · Privacy Policy
    10960 Ventura Boulevard Second Floor, Los Angeles, CA 91604 · Phone: (323) 255-9400
    LAPMG is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone and applying the relevant accessibility standards. If you have any issues, please contact dcrown@lapmg.com.