Frequently Asked Questions for Owners
GENERAL
LAPMG is a comprehensive property management company that delivers a wide range of services, such as leasing, rent collection, 24/7 maintenance and repairs, handling tenant inquiries, and much more.
We manage properties across the Greater Los Angeles and San Fernando Valley areas.
With over 30 years of experience managing properties in the Los Angeles area, LAPMG is a family-owned business that combines the resources of a large company with the personalized service of a small one.
We pride ourselves on delivering exceptional value, as reflected in our hundreds of 5-star Google reviews. Our maintenance response times are twice as fast as the industry average (according to Property Meld's national data), and we offer clear, easy-to-understand financial reports along with transparent pricing—no hidden fees."
Our rates vary based on the type, size, and location of your property, as well as the local rental market conditions. We also offer discounted rates for managing multiple properties
Management begins as soon as the management agreement is signed by both the property owner and our agent. Our onboarding team will contact you the same day and initiate the transition process right away.
Absolutely. As the property owner, you retain full control. We take direction from you and are here to offer guidance, advice, and recommendations, but you will always have the final say on every decision.
No worries at all. We work with many property owners who are located out of state or even internationally. You can sign our management agreement digitally, and simply mail your keys to our office.
Yes, LAPMG is fully licensed and insured, registered with the California Bureau of Real Estate under DRE# 01931033.
We believe in building respectful, trusting relationships with our clients. If you're not completely satisfied with our service, you can provide a 30-day notice at any time. There are no early termination fees.
MAINTENANCE
Our property manager will first assess the issue before reaching out to a vendor or technician. LAPMG works with licensed and insured contractors for all property maintenance and repairs. For any repairs exceeding your pre-set maintenance limit, our manager will contact you for approval.
If you'd prefer to use your own vendors, you're welcome to do so; however, we will need to collect their insurance details and a W-9 form. Once the work is completed, an invoice will be uploaded to your owner portal.
When you hire LAPMG, we take responsibility for your property 24/7. Our maintenance team is always on call to handle emergencies promptly, and we have access to trusted vendors who can respond to urgent situations at any time, day or night.
We conduct inspections at every move-in and move-out, as well as annually, to ensure safety, prevent disputes with tenants, and help maximize the return on investment for property owners.
At LAPMG, we prioritize protecting your bottom line by controlling expenses. For major repairs, we obtain multiple bids and present you with the estimates for approval. Our vendor list is carefully vetted, ensuring quality and competitive pricing. Additionally, if damage is found to be caused by a resident, we charge them for reimbursement of the repair costs.
As the property owner, you are responsible for maintenance and repair costs, unless the tenant is found negligent and charged for the damage. In such cases, we will pursue reimbursement from the tenant on your behalf. Due to our extensive property management experience, we are often able to secure significant savings on repairs and maintenance. We are committed to saving you money wherever possible, and every invoice is fully transparent—there are no additional fees for maintenance or repairs.
ACCOUNTING/FINANCE
LAPMG accepts rent payments through our online payment system, personal checks, ACH transfers, or certified checks. We do not accept cash. Management will cover all authorized maintenance expenses and disburse funds to owners by the 10th of each month.
As an owner, you will receive a monthly financial statement and a 1099 at the end of each calendar year. Property inspections are conducted at move-in and move-out, with periodic inspections carried out using a checklist. All invoices, lease agreements, notices, and other important documents are accessible through your owner portal.
We use AppFolio Property Management Software to manage all aspects of your property’s accounting and operations.
Generally, management fees are considered a deductible expense. However, we recommend consulting with your tax advisor to ensure this applies to your specific situation.
LEASING
Our management team will handle every step of the process, from preparing your property to be rent-ready, marketing, leasing, and screening tenants, to rent collection and maintenance. We work with many first-time property owners and will guide you through each step, ensuring a smooth and successful experience.
To get your property rent-ready, standard procedures include painting, carpet cleaning, interior cleaning, installing window coverings, and ensuring smoke and CO2 detectors are in place. Additionally, all major systems and appliances must be in working condition, and any health or safety concerns should be addressed.
We can start immediately after the management agreement is signed and the onboarding process is underway. We'll collect the keys, take professional photos, and list your property on top marketing platforms. While the average time in the LA market to rent is around 30 days, if the property is priced correctly based on market analysis, it could be rented quicker than that.
We thoroughly process all applications, that include credit, criminal, and past eviction searches to ensure tenants are reliable. Based on the information gathered, we make sure we verify the income with the employer and current tenancy with the landlord. We evaluate applicants based on our application criteria and follow established policies to determine whether to accept or decline each prospective tenant.
LAPMG typically handles the screening and approval process, as our team is trained in areas like credit screening and fair housing regulations. Our software uses strict criteria to assess creditworthiness, and we verify each applicant's rental history and employment. We take great care in selecting tenants, as we interact with them regularly. Ultimately, it’s in both our interest to make thoughtful and careful choices.
No, you pay nothing for processing the tenant’s application. Prospective tenants pay a $35.00 online application fee.
The rental price is primarily determined by market comparables. We use our expertise, analysis, and judgment to set a price that maximizes your rent while aligning with market trends and our goals.
Generally, we require a security deposit of at least one month's rent. If an applicant has a pet, we can collect a “Monthly Pet Rent”, unfortunately due to new laws in the City of Los Angeles, there are restrictions regarding pet deposits. However, California law allows a maximum of two months' rent for furnished properties and one months' rent for unfurnished ones. These funds are held in our broker’s trust account.
Although we carefully screen tenants, there is always the possibility that a tenant may fail to pay rent. LAPMG enforces a strict rent collection policy to protect your interests. If rent is late, a 3-day notice will be served. We will inform you of the situation and review available options. If the tenant fails to pay or vacate within the 3-day period, we will initiate the eviction process with proper attorneys upon approval. You will not need to appear in court—this is handled by our eviction attorney and property supervisor/on-site manager on your behalf.
At move-out, LAPMG takes photos and compares them with move-in photos to assess any damages, excluding normal wear and tear. We will deduct the costs of damages from the security deposit and provide you with a detailed report for approval before we send the refund form to the tenant.
No, we do not charge management fees until the property is leased. We do however charge management fees if the unit is being renovated by the owner's vendors and require management oversight.
