When it comes to running a rental property in Los Angeles County, the cost of maintenance can vary greatly. It is important to understand the different factors that go into the cost of maintaining a rental property in order to make sure that your business remains profitable in the long run. Generally speaking, residential property management firms in Los Angeles will charge between 8 and 12 percent of monthly rent. This is independent of other expenses.
This means that you can expect to pay a typical residential property management company between 8 and 12% of the monthly rental value of the property, plus expenses. These expenses can include filing a complaint with a government law enforcement agency, such as the Los Angeles County Department of Public Health or your local Department of Building Security &. This gives them the money to pay a real estate agent a commission for placing a tenant in the property, or to pay for advertising costs, repeatedly showing the property to prospective tenants, as well as the cost of preparing lease documentation (which can take hours). It is important to select the right tenant through intensive tenant evaluation from the start in order to ensure that your rental business remains profitable in the long term.
By understanding how much it costs to maintain a rental property in Los Angeles County, you can make sure that you are making an informed decision when it comes to hiring a property manager.