Westside Management Group is a real estate management and brokerage company. We advertise vacancies, verify applications, run credit checks, sign leases, coordinate repairs, resolve tenant complaints and provide monthly computerized reports to owners. We also represent clients in the sale and purchase of investment properties.

Each property is evaluated on an individual basis. The management fee is based on the amount of rent collected each month. Most apartment buildings usually fall in the 5% per month category. Single-family homes and individual condos fall in the 7% category. Other factors affecting the management fee include:

• Status of problem tenants
• Status of deferred maintenance
• Plans for major rehabs
• Number of vacant units
  
  

Leasing fees vary depending on the size of the building.

• Apartment with Resident Managers: $50 - $100 per unit.
• Apartment without Resident Managers: $250 per 12-month lease.
• Single family homes and condos: One half of the first month's rent.
  
  

We qualify prospective tenants in several ways:

• Verify that gross income is 3 times the amount of rent.
• Check the credit report for a history of late payments, collections, judgments and bankruptcies.
• Check for previous evictions and unlawful detainers.
• Verify current employment.
• Check references from previous landlords.
• Obtain a copy of valid photo identification.
• Obtain a complete application.
  
  

A separate checking account is established for each property. All rent is deposited into that account after it is either mailed to our office or collected by the resident manager. Our accountant prepares monthly owner reports showing income and expenses once the bank statements have been reconciled. Owner reports are mailed at the end of each month (along with the original bills) for the previous month's activity (this means you would receive the June report in July).

All expenses are paid from the checking account. These include the mortgage, taxes, insurance, repairs and owner disbursements. A cap is set on expense items that are beyond the usual and ordinary. This is usually about $300.00 to $500.00 depending on the building. The owner must authorize expenses that exceed the agreed amount. The goal of Westside Management Group is to minimize expenses while we maximize rental income to improve your bottom line.

Westside Management Group only uses outside contractors to complete repairs. We do not "mark up" any repair work, nor do we operate a separate maintenance company. When a maintenance request is called into our office, we first try to troubleshoot and solve the problem right on the phone. If a service call is needed, we usually send one of our handymen out to the job. Most of the time our handymen can complete the usual repair requests. They are paid at $35.00 per hour. Parts are purchased on accounts at Home Depot or B & B Hardware and paid separately. If a handyman cannot fix a problem, then we call the appropriate plumber, electrician or other contractor to complete the job. Contractors send a bill separately for their job.

Most questions about activity at your property can usually be answered with a quick phone call or email. The staff at Westside Management Group is at your service and happy to answer any question you may have. If we can't answer a question immediately, rest assured we will find out the answer and follow up with you, usually within 24 hours. If you have a question about a particular bill, please fax us a copy of the bill and then we can research it completely for you.

Owner draws are paid by the 15th of each month unless a prior payment arrangement is made with the owner. A balance of $500.00 is always kept in the account to cover any emergency work that might be necessary. If an owner deposit is required to cover expenses that exceed the rental income, a request to the owner is made by phone or email.

The process is simple. After we make an inspection of the property and discuss the needs and goals of the owner, we sign a management agreement and the owner fills out a basic information sheet. We collect copies of rental agreements, service contracts, miscellaneous files and a copy of the rent roll. Contact is made with each tenant informing them of the change in management and the transition from owner to management company is then complete.

Yes! Our business grows primarily through the referrals of our satisfied clients. We offer a finder's fee equal to one half of the first month's management fee to anyone who refers a new client to us.

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