Torrance vs Nearby Cities
Torrance is located on southern California’s Pacific coast and usually has a median home price around $750,000. This is much lower than the median listing prices seen in some nearby beach towns. For instance, the median listing price is often around $1 million in Redondo Beach, and median home prices can get close to $3 million in Manhattan Beach. The median rent price in Manhattan Beach often surpasses $6,000 per month, but renters are more likely to pay an average closer to $3,000 per month in Torrance. Residents interested in lower real estate prices can look in nearby cities that are positioned further inland, including Carson, Hawthorne and Gardena. Long Beach also offers more affordable real estate prices.
Torrance Property Managers
Property managers are responsible for taking care of tenants from their initial screening and move-in date to their move-out date. This includes processing evictions when necessary. Managers are typically in charge of coordinating work crews for landscaping, painting, carpet cleaning and all repairs needed in all areas of the property.
Torrance Property Management Company Fees
Property managers often collect a percentage of the rent collected from tenants rather than accepting a flat fee. They may also ask for a leasing fee, which allows them to market for quality tenants and then screen qualified applicants and arrange lease signings. Additional fees are often charged as well.
California Landlord/Tenant Laws
- The amount charged for a late payment fee must reasonably correspond to the landlord’s financial loss.
- Landlords in California can only charge a late payment fee if they disclose the fee in the leasing agreement.
- If a tenant bounces a rent check, the landlord may charge a $25 fee for the first offense and $35 for all subsequent offenses.