Property Management FAQs

Want to know more about property management in Los Angeles? Learn what a property manager does, licensing requirements, property inspections, market rent determination, and more.

Since the beginning of time, there have always been property owners who need someone to oversee their properties. Either they do not have time to run their own operation or they prefer to not be involved in the day to day tasks. Managing multiple tenants in one building requires a specific skill set and expertise.

Here are some common questions asked regarding property management operations:

Do you need a license to be a property manager?

A licensed broker is necessary in order to legally manage multiple properties in California. Belwood Properties has two licensed real estate brokers that oversee the management operations for all properties under our care.

What is a Property Managers job duty?

We represent the landlord, advocate for the tenant, oversee property operations, market vacancies, draft leases, inspect properties exterior/interior, accounts receivable, accounts payable, screen applicants, practice preventative maintenance, complete work orders, vacancy repair and renovation, provide fair housing, maintain property, and maximize return on investment for our client.

How do you fill vacancies?

Belwood Properties uses all online platforms to advertise vacancies and attract qualified tenants. With photos, in-depth property descriptions, and thorough tenant screening our client’s vacancies are filled as soon as possible.

What is a qualified tenant?

We look for specific attributes when qualifying tenants. We ask for two months of bank statements, credit check, proof of identity, and employment verification. They must make twice the amount of rent in order to qualify and be a US citizen. It is imperative that the tenant is able to pay rent on time and maintain fiscal stability through the term of their lease.

How do you determine market rent?

We do a comparative market analysis with other properties in the area that are similar. Then we go over the demographics in the neighborhood regarding economic standing and population growth. The growth of a specific area is important to understanding its housing needs, going forward. Having a complete understanding of the area’s surroundings pertaining to public transportation, schools, shopping centers, and more is critical to marketing the vacancy properly. Belwood also takes into account how many vacancies are in the surrounding area, so that we know what we are up against.

Do you perform property inspections?

We perform exterior and interior inspections for all types of property. For occupied units we give the tenant 48 hours’ notice before entering and perform this inspection once a year. There is no need to perform more than once a year as it bothers the tenant and does not maintain good tenant landlord relations. Exterior inspections of properties are performed every other month or more depending on individual client needs.