Reasons why you should choose Ontrack Asset as your property management company in Los Angeles:

• We have organically built a rent roll based on SERVICE 
• We choose the properties we wish to look after and have built a reputation offering high quality properties which are well presented and well looked after. Tenants are in fact choosing to rent from us 
• We deliberately build a strong relationship with yourself, the landlord 
• We deliberately build a strong relationship with our mutual client, the tenant 
• We get to know your property intimately so that we can protect your investment 
• We present your home on the internet by using high quality professional photographs and floor plan. This attracts strong numbers at the open home and therefore strong results 
• We conduct rental open homes at the same level of service as sales open homes 
• We use qualified sales professionals to operate the rental open homes, not unqualified junior property managers – after all, your future tenant is buying the property but on a monthly basis – they need to be sold to and serviced at a high level 
• We approach potential tenants with the same level of service as potential purchasers and treat them with respect and honesty 
• You can be assured that the prospective tenant will be well-vetted and capable of looking after your home. We diligently look for high-caliber tenants 
• We distribute goody bags at all our rental open homes complete with information about the home including a floor plan, the local area and some water and chocolate
• We consistently achieve strong rental returns for all our investment properties

Call our property management office in Los Angeles today for a free management quote, and be on your way to investment property success!

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.

What is a homeowners association?

We have all heard the term Homeowner's Association (HOAs) at some point our lives, whether we heard our parent talk about it or when finding a home of our own.
A Homeowners' Association is a legal non-profit organization or entity that is formed by a real estate developer in order to maintain common areas, promote, manage and sell homes or lots in a residential subdivision. This community governs the general rules of what can or can't be done in the property.

HOAs have the authority to enforce the conditions and regulations established by the property and the city. The membership is mandatory for all property owners within the development. When a person buys a home with HOA, he/she instantly becomes a member of this group and is entitled to the rights and rules of this organization.

Many condos and townhomes have a Homeowner's Association which is created when the property is built. These associations maintain the value and quality of the properties associated and make sure the Covenants, Conditions and Restrictions (CC&R) issued are being applied and followed by all members. HOAs have legal power and usually charge a fee that is used to maintain the properties' common areas and pay for common services, unexpected emergencies or repairs. If you’re looking to buy or rent a new home, it is important to know the HOA related to the property. Renters have to follow the rules established by these organizations as well since they are part of the community.

At Ontrack Asset Management, we provide the best services for HOA's management. We are a full service property management company specializing in condominium, town home and single family Homeowners Associations in Los Angeles. We manage for the future and offer real solutions.

5 Reasons Why You Need a Property Manager

Hiring a professional property manager can be very beneficial. They have the experience and expertise you need and know how to handle everything in a professional manner.

These are the top 5 reasons why property owners need a property management company to handle their needs:

1. Tenant screening: Enjoy piece of mind and don’t worry about verifying tenant detailed. Property managers perform background checks, credit checks, and public notice checks. Additionally, a required detailed application with photo I.D is requested for safety and control issues.
2. Knowledge in landlord/tenant law: property managers have extensive knowledge in property law and regulations. We are up to date in all the new laws, rules or regulations that implicate landlords and tenants. Imagine what you could save given the case of a lawsuit!
3. Rent collection: property managers collect rent in an efficient and professional way. We have systems and strategies to improve rent collection and increase on-time rent payments.
4. Maintenance and emergencies: property managers have professional contractors for property maintenance and we make sure they provide high quality work. We also deal with safety inspections annually and also before and after tenancy evaluations to provide reports for improvements or corrections. A property management company takes care of the multiple emergency calls day or night, saving you a big headache.
5. Marketing experience: property managers have wide experience in marketing. We have online and offline marketing strategies to rent your property in a short period of time to have maximum exposure.

Let us do the dirty work, while you cash the check. Visit Ontrack Property Management today and leave your property in the great hands!