- How long does it take to lease my property?
- How do you qualify the applicants?
- I have heard that property management companies make money by doing repairs. Is this true?
- How is Supreme Real Estate different?
- Do you manage only residential property?
- I am really nervous about maintenance expenses. How do you control expenses? Can I approve all work?
- What happens to security deposit? Are they sent to me?
- Will you help me find a qualified tenant without having me sign a full management contract?
- Do you provide me monthly reports on my property?
- When should I expect my rent payments?
- Can I get multiple bids for repairs?
- Where do you advertise?
- If I decide to sell my property, would you take care of the sale for me?
- Can you help me to find Section 8 tenants?
- Do you offer property management services in Los Angeles County only?
- Are you familiar with West Hollywood, Beverly Hills, Santa Monica and Los Angeles City rent control rules?
- Do you charge a monthly management fee if the property is vacant?
- What do I need to know about evictions?
- Can you manage my property if I already have a tenant on a lease? Will you sign the new lease with the tenant?
- How often does your staff inspect my property?
- Who is responsible for the utilities?
- Who pays the property's recurring monthly bills?
- Where and how does the tenant pay their rent?
- What is your eviction process, and who pays for it?
- Will tenants ever contact me?
- Do you give out keys to prospective tenants to view the property alone?
- Are you licensed by the Department of Real Estate?
Top1. How long does it take to lease my property?
Generally, Supreme Real Estate can have your property leased within 10-30 days of being on the market. However, some homes will lease quicker and some homes will take a little longer to find a qualified tenant. We will begin to market your home the moment it is rent ready! The best time to have your home on the market is before the first of the month as tenants are usually looking to make a move at the end of the month. Which means that if your house is priced right, in good showing condition and available to occupy by the 1st then there should be no reason to miss a month of rent. We will guide you to price your home correctly the first time so we don’t have to reduce after it is on the market. This way you can receive a full month’s rent instead of a prorated amount after a price reduction. At the time you turn over your property to us to handle, we will inform you of current market conditions, which will give everyone a better idea of market time.
Top2. How do you qualify the applicants?
We strive to provide you with the caliber of residents that you want in your rental home. We accomplish this by following a strict set of tenant selection criteria plus performance of a complete national credit report on each of the adult tenant applicants, a complete verification of their rental history from their previous landlord, a verification of their employment, OAFC report and a criminal background check.
Top3. I have heard that property management companies make money by doing repairs. Is this true?
Yes. But not our company! We don't make any money on repairs, unlike most other property management companies. We hire outside, independent contractors for all maintenance needs. Companies that provide maintenance services from in-house are in business to maximize their profit margins. This comes in direct conflict with the property owner's goal to minimize maintenance costs. As a management company that hires only independent, third party maintenance companies, we have the incentive and the ability to protect you from unfair, profit seeking strategies of maintenance operations.
We would be happy to use your maintenance crew or other vendors if you prefer. While we are happy to use your own vendors, one important benefit of Supreme Real Estate is that over time we have developed relationships with vendors, such as plumbers and electricians, who charge low rates and are reliable. They are able to do this because Supreme Real Estate gives them a significant volume of business. You, as the owner, benefit from these vendors’ excellent service and pricing.
Top4. How is Supreme Real Estate different?
We are certain that you will not find any other property management company in Los Angeles County that offers the following:
- No Conflict Policy
- Eviction Protection Program for only $12 per month/per unit
- 110% Lowest Price Guarantee
- 30-day Risk Free Trial
- No Start-Up or Annual Renewal Fees
- No Hidden Fees
- Department of Real Estate Licensed Professionals Handle Your Property
- We Treat You as a Person, Not a Number
- Most extensive website and best software in the industry, which allows for quick communication between all departments, owners and residents
- Full Service Property Management Company (computerized billing and accounting, trained resident managers, bilingual personnel, efficient rent collections (tenants can pay online, by credit card or direct debit, at no cost to the owner), 24-hour supervised repairs and maintenance, eviction processing, tenant screening, vacancy filling and more.
Top5. Do you manage only residential property?
No. We are specialists in the management of residential and commercial properties. Our portfolio contains many single family, duplex, tri and 4-plex, multi-family properties and HOA’s. We also offer management services for commercial office properties.
Top6. I am really nervous about maintenance expenses. How do you control expenses? Can I approve all work?
Supreme Real Estate always attempts to minimize maintenance expenses for the property owners. For major repairs, such as re-piping or re-roofing, several bids are obtained, and we will get your written approval. However, if there is an emergency, and we cannot get in contact with you, and the repair costs are less than your authorized repair limit, then Supreme Real estate will go ahead with the work and keep you informed. Our vendors are reasonable and reliable; otherwise Supreme Real Estate would not utilize their services. In addition, if it is discovered that a tenant caused the damage, we charge the tenant for reimbursement of the repair expense.
We want you to be happy with our service and we are willing to work with your demands. We can always ask for your maintenance approval if you instruct us to contact you for all maintenance approvals.
Top7. What happens to security deposit? Are they sent to me?
It is up to the owner. We can place the security deposit in our trust fund account or send it directly to you. We work for you and you set the parameters not defined by law.
At move out, we complete a thorough inspection, document the condition of the property and prepare a security deposit claim if necessary. Any damage expenses beyond normal wear are deducted from the security deposit along with any other money owed by the tenant. The balance is returned to the tenant within 21 days of lease termination. Supreme Real Estate will send the funds to the tenant if Supreme Real Estate kept the security deposit in the trust account. The owner will send the funds to the tenant if the owner received the security deposit.
Top8. Will you help me find a qualified tenant without having me sign a full management contract?
Yes. Many owners have the time and ability to manage the day-to-day operation of their rental property but lack the resources to attract and screen qualified tenants. We will assess and market the property, screen the tenant, sign the lease, document the move in, collect security deposit and the first month’s rent, and then return the property to you for daily management. Speak to one or our property managers for details on fees.
Top9. Do you provide me monthly reports on my property?
Yes, we will provide you a monthly report of rent and other income received, as well as maintenance, repairs, and other expenses incurred. This will be provided once a month. Most owners choose to have electronic funds deposited into their account. In this case, you would not receive a paper statement. The statement will be emailed to you. You can access your online account to retrieve the statement anytime. You can access this 24/7. If you have questions regarding your statement, please do not hesitate to contact us.
Top10. When should I expect my rent payments?
Direct deposits are usually done to your account by the 12th-14th of each month. If your rent has not been collected, you will be notified by the 6th of the month. If you choose to receive a paper check, it should be in your mailbox by the 14th of each month.
Some owners ask us: "Why is it taking so long?"
Answer: The rent payment is due on the 1st of each month. Most of the tenants pay the rent payment on the 3rd or the 5th of each month. Most of the payments are done by personal check. It takes about 3-5 business days for the bank to clear the deposited funds. Unfortunately, we cannot pay out funds that have not been cleared by the bank. In addition, we receive 200-400 invoices monthly for all of our properties. It takes 2-3 days for our accounting department to pay all invoices, scan all invoices, upload them into the system, pay the owners and prepare owner statements.
Top11. Can I get multiple bids for repairs?
Of course! Supreme Real Estate tries to get multiple quotes on work when the scope of the work is large, including painting, roofing, flooring, heating/air conditioning replacement, etc. In some cases, we are not able to call around for the best prices if work is needed urgently in order to prevent further damage. This may include emergencies at night time or on holidays like Christmas or Thanksgiving when it is hard to get a hold of contractors. Our staff carries an emergency cell phone which each renter has access to. We also have a toll free number which each renter can call 7 days a week, 24 hours a day. We screen out non-emergency calls and call the correct technicians to diagnose the problem as fast as possible when emergences arise.
Top12. Where do you advertise?
Over 90% of prospective renters are using the internet to find housing. Every day, we work to strengthen our internet presence. Our listings are advertised on over 20 rental websites includes: MLS, Craigslist, Oodle, Realtor.com, Hotpads, Zillow, Trulia, Twitter, Youtube and more. We include at least 10 recent photos of each rental we advertise, and often take video tours and provide floor plans, room sizes, and neighborhood photos and information. Don't forget that we offer a 30-day rental guarantee. We will rent the property from you if we don't find a tenant for you within the first 30-days of being on the market.
Top13. If I decide to sell my property, would you take care of the sale for me?
Yes. We have an active and experienced sales division who can help you sell your property.
Top14. Can you help me to find Section 8 tenants?
Yes! We are familiar with the all Housing Authority programs. We can find you tenants with Section 8 vouchers.
Top15. Do you offer property management services in Los Angeles County only?
No. We manage properties in Los Angeles and Orange Counties.
Top16. Are you familiar with West Hollywood, Beverly Hills, Santa Monica and Los Angeles City rent control rules?
Yes! We manage many properties under West Hollywood, Santa Monica, Beverly Hills and Los Angeles Housing Department Rent Stabilization Ordinances. We are experienced in REAP, Capital Improvement, LAHD Inspections, Just and Reasonable Rent Increases, Tenant Habitability Plan, etc. We are very familiar with rent control rules and regulations, so you don’t have to be.
Top17. Do you charge a monthly management fee if the property is vacant?
No! We will never charge you a property management fee during vacant months.
Top18. What do I need to know about evictions?
Because we do a very thorough job during the pre-screening and screening of our tenants, our eviction rate is extremely low. But, it is also important to know that tenants can look great on paper but can still cause problems. Because we understand that an empty rental property causes additional stress and financial burden on owners we will always work hard to collect outstanding rents or coach the tenant to correct any lease violation. If, in the end, eviction is the smartest business decision, you can rest assured that our staff knows the laws to expedite the process and get your rental back on track! In addition, we offer an Eviction Protection program for only $12 per month/per unit.
Top19. Can you manage my property if I already have a tenant on a lease? Will you sign the new lease with the tenant?
Absolutely. We will inform the current tenant of the change in management and provide them with all information needed for paying rents, contacting us for maintenance issues/repairs, etc.
We will not sign the new lease agreement with the tenant because all lease agreements are between the property owners and tenants.
Top20. How often does your staff inspect my property?
Inspections are completed roughly twice a year.
In addition, our team members are instructed to notify us if they see any issues or have any concerns about a property when they are completing work orders. This may also lead to unscheduled re-inspections.
Top21. Who is responsible for the utilities?
You, as the owner, can determine this. Depending on several factors about your property, there are various pros and cons to letting the renters pay the utilities. To make sure essential utilities such as heat remain on despite the tenant's ability to pay, you may wish to have Supreme Real Estate pay for these bills.
Should you decide to have the tenant be responsible for any utilities, they will change the billing to be under their name and are required to pay the bill when due.
Top22. Who pays the property's recurring monthly bills?
Supreme Real Estate can make any or all recurring payments for you including but not limited to: utilities, vendors, mortgage, HOA, etc.
Top23. Where and how does the tenant pay their rent?
Tenants can mail a check to our office, hand deliver a check to our office drop box or resident manager, pay their rent online via our website, or setup automatic withdrawals from their bank accounts. We offer a secure payment portal where tenants can choose a one-time withdrawal from their bank account, setup recurring withdrawals from their checking or savings account, or credit card information for payment.
Top24. What is your eviction process, and who pays for it?
The owner is responsible for eviction costs. If necessary and with your approval, we will proceed with an eviction process. This process is considered a management duty, so you will not be charged for Supreme Real Estate time. Approximate eviction costs can be $700-$1,000 and the fee is paid directly to the eviction attorney. We will recommend three different attorneys for you to choose from.
With an optional Eviction Protection Program (for $12 per month/per unit), Supreme Real Estate will pay for all court costs, filing fees, and attorney fees in connection with an Unlawful Detainer Action (eviction) against a tenant. The program does not cover the cost of a jury trial, but most evictions RARELY involve a jury. If Supreme Real Estate is placing a new resident in your property and you choose to participate in the Eviction Protection Program, your eviction coverage goes into effect immediately. If you have an existing resident and you sign up for the eviction coverage, the plan goes into effect once six months of management fees have been paid. If you do the math, this is a great service that will provide you not only peace of mind but the protection of a costly eviction expenses.
Top26. Do you give out keys to prospective tenants to view the property alone?
No, absolutely not. All prospective tenants are accompanied to the property by the Property Manager.
Top27. Are you licensed by the Department of Real Estate?