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What To Expect From a Property Management Company For Your 5-15 Unit Complex

Dustin Edwards • Mar 27, 2022

Important Items To Look For In A Property Management Company

Having a multi-unit apartment complex can bring many financial benefits. Though many first time landlords of apartment complexes want to manage their buildings on their own, it is soon realized that there is an abundance of work involved. This is when you should consider using a property management company. 


Below are a selection of services you should expect from any property management company that is going to manage your 5-15 unit apartment complex.


Online Logging of Tenant Requests

Keeping track of tenant requests can require personal and unique service, depending on the tenant. Keeping consistent and detailed logs of tenants requests should be expected from your property management company. Tenants can come with many different requests ranging from being locked out of their unit to needing repairs within it. 


Having a large number of tenant requests being processed can be complicated. In worst case scenarios can lead to long term damage if not handled with due diligence. When keeping track of multiple units in your Long Beach rental property, making sure that there is an online logging system to record tenant requests is to be expected. 


Property Maintenance Handling

Just like keeping track of tenant requests, your Long Beach rental property also requires documentation when it comes to handling maintenance. A good property management company will be able to keep track of scheduled maintenance. They should also run routine inspections in the building in order to find anything that is broken or damaged to either be upgraded, or replaced. 


A property management company should be capable of receiving, issuing and coordinating repair requests. Providing documentation during the process and completion of said repairs.


Rental Surveys Consistent with Local Neighborhood and Unit Mix

To make sure that your rental property is appropriately priced per unit, you should expect your property management company to be able to conduct rental surveys. They should be able to have a spreadsheet to compile the results of the rental survey with information such as:

  • Monthly rent
  • Square footage of the unit
  • The rent per square foot
  • Special (ie moving in discounts)
  • Upgrades
  • Amenities


They should gather data from as many comparable properties in the area in order to eliminate any outliers. You should expect a property management company to have enough information to be able to compile the data within the properties they manage and other ones in the area to determine appropriate rents.


Recommendations to Help Keep Rents Increasing with the Market

The rental market is changing constantly, you need a company that can give recommendations to keep rent within the market rates. It's important to  understand that rent can only be increased once annually and increases cannot exceed 5%. In order to keep up with the market a property management company may recommend changes in policy to allow pets. Or changing the exterior of the property to improve its curb appeal.


Maintaining Occupancy Rate with Increasing Rents

Increasing rent is important, yes. Keeping a high occupancy rate while increasing rents is what you should expect from a property management company. While making sure the condition of the building and individual units are adequate, tenants should feel comfortable and happy. Being upfront when signing a lease about rent adjustments and giving them ample time before the adjustment will keep tenants from feeling surprised. If you keep a tenant happy there is a higher likelihood of them considering rent increases as an acceptable cost to live in your building vs. moving to a new unit elsewhere.


If you are looking for a property management company to manage your new 5-15 unit apartment complex feel free to call us at (562) 888-0247 or feel free to fill out our
free rental analysis to see what your rental could yield today.

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By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
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