Tuesday, December 14, 2010

Just listed a gorgeous 1bd/1bth condo for rent at $1400 in Sherman Oaks!! Check out pics at http://tinyurl.com/JRealtyShermanOaks

Monday, December 13, 2010

Check out the latest JRealty blog post "Value of Make-Ready Work: Higher Rents and Quicker" at http://ping.fm/yLYmq

The Value of Make Ready Work: Higher Rents and Quicker.

This past weekend, I went with a friend who was looking at a 5 bedroom home for rent in Manhattan Beach. As we toured the property, the owner was first to point out various repairs that needed to be done.

The hallway stair carpet was filthy, a couple bedrooms needed to be repainted, and other rooms had wallpaper from the early 70s. Additionally, there were several miscellaneous items left by the owner.
Talking to the owner, I found that the property has been vacant for three months and rent had been lowered from its original price of $5,000 a month to $4,200 a month. The owner indicated that they have had a steady stream of calls and showings the past three months, but no applications.

One of the reasons? The property was not move-in ready. Prospective tenants don’t want promises of future repairs.

In this case, I feel the owner was sincere in the promises to make the repairs, which makes her decision to not make the repairs before advertising the property for lease even more puzzling.

By not doing the make ready work before advertising the property for lease, the owner potentially lost out on as much as $15,000 in possible rent (3 months vacant at the initial rent price).

JRealty always advises making your property move-in ready before starting to advertise. This ensures you the best chance of collecting the highest possible rents quickly. Sometimes new paint and fresh carpets makes all the difference!!

Check out our website www.jrealty.org for more on our property management services.

Friday, December 10, 2010

Just listed a terrific 1bd/1bth apartment in North Hollywood for $1000 a month! Check out pics at http://tinyurl.com/NorthHWApartment

Thursday, December 9, 2010

Just leased~ A terrific studio in Los Feliz for $950 to a great tenant with a credit score over 725!!

Monday, December 6, 2010

Landlords Beware: Bogus Charges and Friendly Rents

Landlords Beware: Bogus Charges and Friendly Rents

JRealty recently took over managing a 15 unit property in North Hollywood. Looking through the financials records of the previous property management company, we discovered some major red flags that are unfortunately all too common in property management.

First, we noticed a $600 pool charge. Considering there is no pool at the property, this was a very surprising and disturbing find to say the least.
Additionally, we noticed a tenant who was paying half of market value in rent. When we asked the resident manager, she said the person was a friend of the property management company and that was the reason why she got such a great deal. The previous property management company locked her into a two-year contract with NO SECURITY DEPOSIT. This favor from the property management company will cost the owners of the property close to $10,000 in possible rents over the length of the lease.

JRealty was formed to bring a professional and client focused approach to property management. The fact that bogus charges and friendly rents are all too common highlight that is essential to find a professional, client focused, and bottom-line driven company to manage your property.

JRealty’s mission is to deliver high quality, sustainable results for the benefit of our clients and JRealty. For more information on our company and the services we provide, please visit our website at www.jrealty.org.