If you are a property owner and is considering hiring a management company, here are the list of some scope of work you can expect from the management company.
 

1. Maintain all of the required financial books and records of the Landlord required by California Civil Code Section 1365;
    
2. Provide the Landlord a monthly record of the Landlord’s cash disbursements, including the date upon which such disbursement was made, the amount disbursed and the recipient thereof;
    
3. Provide the Landlord with a monthly income and expense statement, showing all transactions for such month;
    
4. Mail regular and special assessments (and any other billings) notices to each unit owner in which they are due;
    
5. Request, demand, collect and receive any and all charges which may at any time be or become due to the Landlord and to take such action in the name of the Landlord by way of legal process or otherwise as may be required for the collection of delinquent fees and regular or special assessments;
    
6. Maintain an accounting history of transactions generated from each unit;
    
7. Establish and maintain in a bank whose deposits are insured by the Federal Deposit Insurance Corporation and in a manner to indicate the custodial nature thereof, a bank account or accounts of the Landlord pursuant to paragraph 9 below.
    
8. Provide the Landlord with a list each month of the delinquent owners and mail statements to Landlord informing him of any such delinquencies including late charges, special charges, and other fixed charges;
    
9. Receive and verify the accuracy of all invoices, process all invoices and to timely remit to the vendors any amounts due and owing to them.
    
10. Secure bids for required services needed for the maintenance of all common areas of the apartment, and assist the Landlord in evaluating all quotes from subcontractors.
     
11. Interact with all subcontractors and vendors to insure that the terms and conditions of their maintenance contracts are being adhered to;
     
12. Unless expressly instructed in writing by Owner or its assignee, Agent shall set rents based on Agent’s opinion of market conditions and lease the units, renew existing leases, and increase rent from time to time

For more information, please feel free to contact us for a free consultation at 213-923-0227