| Legal Procedures |
Attracting Qualified Tenants
Accomplished through advertisement in local newspapers, magazines and the internet.We and our residents are our best source of referrals. Rentals are attained through a well developed network of referrals.
PERFORMING BACKGROUND CHECKS ON PERSPECTIVE APPLICANT
One of our
most valuable services performed is the detailed and thorough screening
program we implement on prospective applicant Employment, financial
status, criminal and eviction
history are verified by Credit Agencies.In addition, current and past
employment as well as
current and past tenancy are thoroughly checked and verified. We
recognize that the careful selection and screening of prospective
residents is critical.
PROPERTY INSPECTIONS
Emphasis is placed on the care and protection of the physical asset. Millennium Property Management, Inc. conducts weekly property inspections. Managers are taught and instructed to perform unit inspections prior to move in and upon vacation. Photos and detailed documentation are included. Bi-annual unit inspections are initiated to ensure properly maintained conditions, smoke detector maintenance, and early detection of water fixture leaks.
ARRANGING MAINTENCE AND REPAIRS
To help keep building maintenance costs to a minimum, all repair requests are reviewed to determine if it is due to tenant negligence, thereby making it the financial responsibility of the tenant. Also, Millennium Property Management, Inc. provides handymen at reduced rates and licensed contractors for repairs on major plumbing, electrical and HVAC systems. Our extensive background and familiarity with Rent Stabilization properties and Los Angeles Code Compliance, eliminates your property running the risk of falling into non-compliance and being assessed penalties, or having rent abated.
OBTAINING OPTIMAL RENTAL RATES
Rental rates are determined by market analysis and keeping a pulse on the competition in order to insure maximum rental potential. When possible, we will compromise to the highest rate while staying within market conditions.
LEGAL PROCEDURES
There are
times when legal remedies are necessary. We will serve the 3-Day
Notice, appear in court, obtain a judgment, supervise lockout, and
initiate the debt collection for no additional fees.
COLLECTING RENTS AND SECUTITY DEPOSITS
All monies are collected and deposited into an individual Client Trust Account. Rents are due and payable by the third day of the month and if not paid, service of a Three Day Notice to Pay Rent or Quit is initiated. While our eviction rate is in the lower percentile, when necessary, we work closely with an attorney to minimize down time thereby keeping costs down.
PROVIDING MONTHLY ACCOUNTING
Owner funds are distributed the last week of the month and computer generated reports are mailed no later than the first week of the following month. All original invoices with check stubs attached, are included in the month end reports. Monthly reporting is cumulative so that annual year end accounting is provided to each property owner for tax reporting.
REASONABLE MANAGEMENT FEES
Millennium Property Management, Inc. offers full management services for a reasonable monthly fee on the total collected monies. While many management companies offer this same fee, the difference lies in the quality of services. Millennium Property Management, Inc.'s company goal is to provide outstanding service so that any fees paid by the property owner are normally saved by avoiding longer vacancy times, excess repair costs, and tenants who have not been investigated completely.
CONDUCTING A FREE RENTAL ANALYSIS
A Rental
Analysis helps determine what the property will rent for on a long term
basis. This normally requires visiting the property features,
evaluating the property and its neighborhood. Attention and
recommendations are given regarding preventative maintenance,
appearance, manager evaluation and rent range. A free Rental Analysis
can be arranged by contacting us.
COMMENCING PROPERTY MANAGEMENT SERVICES
Emphasis is placed on the care and protection of the physical asset. A Rental Analysis is not necessary to begin our services. Normally, everything that is needed to begin managing your property can be accomplished in an hour at our office or at the property. If an owner lives out of town and cannot meet at the property, we will make arrangements to handle all paperwork via mail and/or fax.
Return to ListEither email janis@mpminc.us or complete the form on the contact page or by calling
our office 24 hours, 7 days a week at (818) 781-9700.
Property Owners are under no obligation to begin management services after a Rental Analysis is provided.