Woodland Hills Property Management

 

Woodland Hills, located in Los Angeles County, California, has a population of nearly 71,000 residents and offers potential residential and multi-family home buyers a mix of urban and suburban living. Apartment rent is high because there just isn’t enough supply to meet the demand.

The Woodland Hills 2035 plan, also known as the Promenade 2035 Project, intends to redevelop the 34-acre Westfield Promenade Shopping Center with residential (mostly apartments), retail/restaurant, office, hotel and entertainment uses. The area intended to be redeveloped is between Topanga Blvd and Erwin Street on the northwest side down to Owensmouth Avenue and Oxnard Street on the southeast side.

With many apartment buildings and condominiums purchased as investments, and in combination with the Promenade 2035 Project to build more apartment buildings, there is an even greater demand for property management companies in Woodland Hills.

The Promenade 2035 Project plans to build:

• ~1,432 multi-family residential units
• ~244,000 square feet of retail/restaurant uses
• ~629,000 square feet of office space
• 2 hotels containing 572 hotel rooms
• An entertainment and sports center containing 10,000 seats
• 5,655 on-site parking spaces
• 5.6 acres of ground-level, open space accessible to the public with a central green area and a multitude of plazas

The Promenade 2035 Plan has already impacted real estate and economic growth. Woodland Hills offers a bit of everything: living space, shopping, entertainment, and is attractive to homebuyers, renters, and real estate investors.

 

Woodland Hills Residential & Multi-Family Property Management

Woodland Hills residential properties offer a wide array of home styles, form the humble to the lavish.

According to Rate.com, single-family homes in Woodland Hills are currently listed for $1.24m, on average, representing a 41.5% increase over 2021. The average time a single-family home stays on the market is 44 days which is 7 days shorter than 2019.

If you are considering purchasing a single-family or multi-family home as an investment, Belwood Properties in Tarzana should be on your preferred list of Woodland Hills Residential Property Management Companies. They work harder and smarter than most other Los Angeles property management companies, have been servicing Los Angeles and the San Fernando Valley for over two decades, communicate exceptionally well with residential property owners, and have integrity.

Leasing

• Advertise
• Show property to prospective tenants
• Thorough screening of prospective tenants
• Creating lease agreements

Management

• Tenant relations
• Maintenance and emergencies (all requests are scheduled and overseen by commercial team)
• Property checks for preventative maintenance (once every 2 weeks)
• Rent collection
• Oversite of all vacancies and preparation
• Updated market reports

Accounting

• Bank reconciliations
• Payment of property taxes, insurance, mortgage, utilities, maintenance, etc.
• Financial and owner reports
• Bookkeeping
• Budget preparation
• Calculation or property expenses and explanation of property expenses
• Collection and processing of asset receipts

 

Condos

In late 2020, the median list price for condos in Woodland Hills was $446k. at the time, it reflected a decrease from 2019. At the same time, though, condo inventory has increased significantly by 78%.

In 2022, prices per square foot have risen from $588 (January) to $632 (October), a 7.5% increase. Since 2020, price per square foot has risen 29% ($489).

 

HOA Association Property Management

Many apartment buildings and condominiums have been constructed in Woodland Hills over the past few years. It’s a great place to live, has a low unemployment rate and is about to explode in growth due to the Promenade 2035 Project. If you live in a condo and find that you need better HOA management, talk to Belwood Properties. HOA Association Property Management in Woodland Hills is a skill and an art. A good condo management company will collect dues, manage and maintain the property, know and enforce CC&R’s, handle document transfers, manage the financials, and so much more! The best HOA property managers will be transparent and communicate with the HOA owners regularly. That is Belwood.