seeking property mgr for apt - venice beach, CA

[Justin Baldauf]

hello! 

i'm an investor and am looking to hire an experienced property mgr for an apt building in venice beach, ca. 

any suggestions/recommendations would be much appreciated!

cheers

justin 

[Zachary Curry]

Most property managers come prepared with thier own agreement and they have become standard in thier favor.

I would recommend creating your own inclusive of the following:

Performance clause, meeting or exceeding set occupancy rates

Performance clause, meeting or exceeding market values for rent in the area based from comps

Costs & Fees, pay a fixed rate but have the property manager cover costs that should have been fixed, meaning if the water bill was higher increasingly over time and they didnt call a plumber before a major leak they or thier insurance should cover the costs, not you or your insurance.

For each clause incentivise increasing through monthly share of the collected rents, and ultimately you will have a top perfomance property well maintained and an active property manager. Adversely if they do not meet these targets the agreement is voided and you are able to pursue other managment. 

Someone who knows thier work ethic and ability will quickly agree to terms because ultimately if they believe in themselves they will make more money with you.

I would draft a proposal and float it around to various property managers and see the occupancy rates and asking for rent they recommend.

To achieve maximum results, you must exert maximum effort.