Monday, July 14, 2014

Why hire a property manager?

If you are the owner of a property and would like to put it up for rent, hiring a property management company is the smartest choice you can make. The tenant-landlord world is filled with many stresses and responsibilities that are often time consuming and hard work.

Many questions come to mind when thinking about renting out a property. What are my responsibilities? What are the tenant’s rights? How much should I charge? Are there tax implications? Will the tenant trash it? How should I handle evictions or tenants who will not pay? The list goes on. Our property management company in Los Angeles has the expertise and experience you need in order to make your investment property worthwhile.

Property management companies like ours in Los Angeles, know the market as well as all regulations, rights and responsibilities when it comes to renting out a property and creating a lease to be signed by the tenant. Ontrack Asset is a full property management company in Los Angeles that take care or your ever need including tenant screenings, property maintenance, 24 hour emergencies maintenance, rent collection, evictions, legal issues, marketing, advertising and much more.

The cost of having a vacancy is very high. At Ontrack Asset, we are aggressive in advertising and maintaining tenant occupancy so that your property won’t go a day without being filled with the right people. We will protect your investment. Call or visit us today and learn more.

Friday, July 11, 2014

New Resident Manager Laws For 2014

Major Charges For 2014

From January 1 through June 30, 2013 the minimum wage for managers who reside in the apartment building premises will remain at $8.00 per hour.  Commencing July 1, 2014, that minimum wage will increase to $9.00 per hour.

Also, during the first six months of 2014, the allowable rental offset against wages owed by the reduced or free rent that is given remains at $451.89 per month for a single manager, and $668.46 per month where a couple is employed.

For the second half of 2014, those numbers will increase to approximately $508.37 and $751.79 per month. (These two numbers are my best estimates as the exact amounts had not been established as of press time.)

Further, for the first half of 2013 the maximum rent which may be charged to a manager whose residence in the apartment complex is required as a condition of employment remains at $451.89 per month for a single manager and $668.46 per month for a couple.  For the latter half of 2014, the maximum monthly rent which may be charged increases to approximately $508.37 and $751.79.

One law does not change in 2014: A resident manager is an employee, not an independent contractor, of the management company or the owner who hires him.