Los Angeles vs. Nearby Cities
In April 2017, a report revealed that many homes in Los Angeles were selling within 30 days of hitting the market. This trend extends to surrounding communities to the south like Long Beach and Santa Ana. Median listing prices for homes in these coastal towns typically stay around $500,000, which is more affordable than the real estate market in Los Angeles.The LA housing market is more in sync with northern towns like Burbank, where the median listing price is known to spike over $700,000 at times. The median sales prices tend to come in a bit lower as most homes sell below asking price.
Los Angeles Property Managers
Property managers in Los Angeles can do more than help you collect rent payments. They can suggest renovations or repairs that may increase the value of your property. You may rely on your manager to stay up-to-date on rental prices and real estate trends in a particular geographical area. This work lightens your workload while keeping your business competitive.
Los Angeles Property Management Company Fees
The basic management fee that you pay your property management team typically covers a list of basic services. You will most likely need to pay additional fees for property repairs, daily operational expenses and advertising. In most cases, you will also pay more for tenant on-boarding and retention services.
California Landlord/Tenant Laws
- California landlords are required to inform tenants if the gas or electricity servicing their rental unit also services other areas of the property.
- After a tenant moves out of a property, the landlord has 21 days to return their security deposit.
- Landlords must give tenants three days to pay their late rental fees or move out before the landlord can legally file for eviction.