Collect and deposit rents in owner’s account or in a designated account.
Serve late fee notices, 3 days notices to pay or quit and all kind of notices related to lease rules and regulations.
Solve tenants’ maintenance issues and any other issue related to their tenancy.
Get the units in compliance prior to LA Housing Department code enforcement inspection. Make sure units are up to codes without any code violation.
Meet, coordinate and negotiate with contractors, City inspectors and vendors for all and any work required for the property.
Represent the owners in court appearances when an eviction is in the process ($100.00 per court appearance plus parking costs).
Show upcoming vacancies to potential tenants.
Qualify applicants, approve, disapprove, prepare and sign Lease agreements and all related forms ( Landlord pay 1/2 of monthly rent , per new lease agreement, including advertising and showings).
Arrange maintenance with vendors at no additional charge to owner. Manager will get owner’s approval on all jobs over $500.00 and owner will only pay the vendor bill amount without any additional percentage to management. Bills will be e-mailed, mailed or faxed to owner.
Owner can provide manager with list of their own vendors if they choose to.
Millennium Real Estate Development Inc. will advertise any upcoming vacancy on Craigslist, Westside Rentals, Zillow, Trulia, and other search engines at no cost to owner. Ads will include pictures of the units and a picture of the property.
Upcoming vacancies will be shown the day after the tenant gives a 30 day notice. Our goal is to have a highly qualified renter in place as soon as possible. The vacant unit will be painted and cleaned within 4 days for the new tenant to move in with minimal loss of rent.
A physical inspection of the outside premises and common areas is conducted on a weekly basis. Management will advise owner of any issues that can affect the curb appeal of the property and advise if improvement is needed.
Shawn Esrawi, the managing broker, and president of Millennium Real Estate Development Inc. guarantees that owners will be hundred percent satisfied with the service otherwise they can cancel at anytime they decide to.
Monthly reports including income expenses, and property news.
Fees are as follow: 7% of gross monthly income or $500 whichever is greater.