(310) 453-1172

3020A Wilshire Blvd, Santa Monica, CA 90403, USA

©2019 by Molloy Real Estate Services

TO-Molloy-8495-Lightroom.jpg

PROPERTY MANAGEMENT

Rental Property Management
Commercial Property Management
Homeowners Association Management

Real estate decisions can be difficult and complicated, which is why it’s crucial to take an informed approach. Through this service offering, you can count on us to guide you in every step of the process.

RENTAL PROPERTY MANAGEMENT

Personal, Prompt, and Professional

Today, management of residential rental property can be a challenge.  State and local regulations seem to be in a constant state of change.  However, the basic principles of property management remain the same:  Provide attractive, clean, and safe properties to rent at a competitive rent, and they will rent!  Proper maintenance of the interior of apartments and the common exterior area of properties retains tenants.  Clear communication of tenant and owner responsibilities reduces incidents between the parties and neighbors within a complex.   Common courtesy and respect supports a professional relationship with few disputes.  This is our basic philosophy that has held us in great stead for almost 50 years. 

 

PERSONAL AND FRIENDLY SERVICE

We believe that by providing friendly and personal service, we create an environment of cooperation – because frankly, it is a partnership of sorts.  We are your partner as the property owner to protect your interest and increase the value of your rental property.  We also owe a duty to prospective and current tenants to provide decent housing where they can create their “home.”

 

PROMPT AND PROFESSIONAL MAINTENANCE

We look at each property we manage as if it were our own.  We work with you to maintain the property to increase its value and provide housing for your tenants.  We respond to tenant requests for repairs promptly to reduce potential damage to the property and inconvenience to residents.  With a proper maintenance plan, owners can be ready for the big repairs that all properties require at some point (roofs, plumbing, water heaters, etc.) while minimizing the “emergency” reactionary response that can happen without a plan. 

 

Working with the historical information you provide us, we try to anticipate and schedule regular maintenance in an effort to keep your property on track.   This also reduces the chance of City inspections resulting in a large amount of “correction” notices.  Our regular inspections of your property also provide opportunities to plan ahead.  We are on-call 24/7 for any emergencies that may arise.

 

MAKE READY AND LEASING SERVICES

When a tenant gives notice that they are moving out, the process to re-rent the unit begins.  Our leasing department immediately schedules a pre-move out inspection with the tenant and creates the “make-ready” plan for that unit.  The unit is immediately placed on our upcoming vacancy list and painting, cleaning, carpeting, etc. is scheduled as soon as the tenant actually moves out.  Proposed monthly rent is determined based on the current market rents.

 

Once the repairs have been completed, pictures are posted and showings begin.  All vacancies are posted on “free” websites as well as our own.  Paid traditional advertising is also used when indicated and with owner prior approval.

 

KNOWLEDGE AND EXPERIENCE

We represent and manage properties in Culver City, Los Angeles (Pacific Palisades, Venice, Westchester, West LA), West Hollywood, Beverly Hills, and Santa Monica.  Each of our local cities has its own version of “Rent Stabilization” or “Rent Control.”  Therefore, it is imperative that your property manager is familiar with each ordinance and its affect on your ability to rent/lease your property. 

 

We have been managing properties for almost 50 years – from before any form of rent control to the present myriad of regulations in our market area.  We also keep abreast of changes and work actively in the legislative process so that we are aware of regulatory changes through our participation at the local, state, and national level.

 

REPORTS AND COMMUNICATION

We provide monthly reports that include accounting of your owner trust account, copies of all bills paid, any notices received, pictures of property maintenance issues, bids for projects requiring your approval, and other updates via e-mail.  For those clients who are technically challenged, we can provide reports via snail-mail, too.  Annual reports provide a detailed general ledger, check register, year-end profit and loss statement, and copies of 1099’s to vendors for you and your tax preparer. 

 

These are also sent via e-mail.  We are also available via e-mail, phone or mail for any personal questions or concerns that may arise from time to time.  Our website blog is also available for queries, too!

 

NEED MORE INFORMATION

Please contact us today for more detailed information and to discuss property management services for your property.  We would be happy to provide you with more detailed information, copies of sample reports, and references.

COMMERCIAL PROPERTY MANAGEMENT

Committed to Excellence

Today’s economy is an ever-changing environment for commercial property owners.  Area rents have stabilized and have been rising to a certain degree in some localized markets.  Current tenants and prospective tenants are negotiating hard for amenities (i.e. parking or close to transportation) and consistent common area charges in order to plan appropriately for their business needs.  Some spaces without curb appeal or amenities lie vacant unless priced appropriately.  Innovative thinking and creative lease terms can help alleviate these current challenges in order to keep your commercial property fully leased through whatever future highs and lows arise over the coming months and years.

 

LEASING SERVICES

Commercial tenants want the security of knowing what their obligations will be under any lease they execute for their business.  With economic uncertainty, they need to be realistic and have a plan for their business during this time to prevent losses both to them, and to you as the commercial property owner.  Clear communication of lease terms is essential at anytime, but particularly now.  Whether you want triple net, net-net, single net, percentage, or offer a gross or even a full service lease, understanding and communicating terms clearly is key during negotiations.  We will work within your property plan and offer suggestions in order for us to successfully lease your commercial property.

 

PROPERTY MAINTENANCE

Depending on the type of lease agreements, the appropriate level of maintenance service and a plan for property maintenance will be developed for your commercial property.  We believe and provide prompt and friendly service to reduce property damage and maintain a good working relationship with your commercial tenants.  Based on the historical information you provide us, we try to anticipate and schedule regular maintenance in an effort to keep your property on track.   This also reduces the chance of City inspections resulting in a large amount of “correction” notices.  Regular inspections are also completed to ensure compliance by tenants, etc.  We are on-call 24/7 for any emergencies that may arise.

 

KNOWLEDGE AND EXPERIENCE

Historically, we have managed smaller commercial/retail properties.  We are currently not staffed to manage high-rise commercial developments.  We would be happy to discuss details of our services with you at your convenience, whether your property is an “owner-user” property or not.  We also keep abreast of changes and work actively in the legislative process so that we are aware of regulatory changes through our participation at the local, state, and national level.

 

REPORTS AND COMMUNICATION

We provide monthly reports that include accounting of your owner trust account, copies of all bills paid, any notices received, pictures of property maintenance issues, bids for projects requiring your approval, and other updates via e-mail.  For those clients who are technically challenged, we can provide reports via snail-mail, too.  Annual reports provide a detailed general ledger, check register, year-end profit and loss statement, and copies of 1099’s to vendors for you and your tax preparer.  These are also sent via e-mail.  We are also available via e-mail, phone or mail for any personal questions or concerns that may arise from time to time.  Our website blog is also available for queries, too!

 

NEED MORE INFORMATION

Please contact us today for more detailed information and to discuss property management services for your property.  We would be happy to provide you with more detailed information, copies of sample reports, and references.

HOMEOWNERS ASSOCIATION MANAGEMENT

Exceeding Expectations

Today, management of your homeowners association can be challenging.  The Board of Directors is charged with managing the association on behalf of all of the homeowners.  Whether you are a small 4 or 6 unit association or a large association with many amenities, the time it takes for you as a volunteer can be daunting.  Plus, this is your home, too!  Therefore, the selection of a professional property management company that shares in that vested interest and contributes to the value of your home and your community is crucial.  Proper maintenance of the common area components, financial management, complying with laws, local regulations, and preserving your community’s peaceful environment are the purview of the Board of Directors (and all homeowners).  We have the knowledge and experience to work with your Board of Directors to fulfill that purpose.

 

PERSONAL AND FRIENDLY SERVICE

We pride ourselves on providing friendly and personal service to all of our clients.  We are your partners in the proper management of your association.  We work closely with the Board of Directors through clear communication and division of responsibilities so that your association can flourish.  Pride of ownership is essential to the maintenance and improvement of property value.  You as an owner of a condominium unit apply this principal to your home – the Board of Directors and we work to apply it to the entire complex.

 

PROMPT AND PROFESSIONAL MAINTENANCE

We look at each property we manage as if we lived there.  We work with you to maintain the property to increase its value and serve as your home.  We respond to common area maintenance requests promptly to reduce potential damage and/or inconvenience to homeowners.  By developing a Property Maintenance Plan in conjunction with your Reserves Study the Association can be prepared for the replacement of common components as they expire.  This will minimize the “emergency” reactionary response that can happen without a plan.  Working with the historical information you provide us, we try to anticipate and schedule regular maintenance in an effort to keep the association on track and reduce the need for Special or Emergency Assessments.  Our regular inspections of your property also provide opportunities to plan ahead.  We are on call 24/7 for any emergencies that may arise.

 

FINANCIAL MANAGEMENT AND BUDGETING

We handle the complete financial management of your association.  From collection of monthly fees, payment of bills, providing monthly financial reports to all homeowners, to preparing proposed annual budgets and updates for the Board of Directors’ review, and contracting for tax preparation and Reserve Study completion --- we help you with it all.  Budgeting and Reserve Studies have been required by state law for many years.  With the recent financial crisis and the lending industry being in a total state of flux, these aspects have become a key aspect to the successful sale and/or refinance of condominium units.  Today, the entire association must also be approved – not just the individual homeowner applying for a loan.  Therefore, a clear financial plan as demonstrated by a budget and reserve study is essential.   These documents are tools for the financial stability and success of your association.

 

GOVERNANCE OF YOUR ASSOCIATION

Each association has governing documents that usually include Articles of Incorporation, By-Laws, C C & R’s and possibly House Rules.  These documents give the Association and its Board of Directors the authority to act and regulate how your association operates.  Although we are not attorneys, we help you to enforce your governing documents for the proper operation of your association.  We facilitate compliance with Federal and State requirements, i.e. bi-annual Statement of Information, application for tax exemption status (when applicable), annual tax return preparation by CPA or tax preparer, Reserve Study preparation by independent company every  3-5 years, Health Department License, annual disclosures, etc.   We also help you with collection and enforcement issues when necessary. 

 

KNOWLEDGE AND EXPERIENCE

We have managed from small to large associations for well over twenty years.  This area of property management has changed dramatically in recent years with the additional regulation of Common Interest Developments through recent state and federal legislation.  We remember the days of an annual meeting where directors were elected by raising hands, new assessments or special assessments to fund projects were decided on the spot, and budget discussions were a matter of asking if the money was available and if it wasn’t then everyone simply agreed to pay their portion then and there.  Although associations still must work together as a community and in the spirit of cooperation, state law requires secret ballots for elections, written ballots for assessments, annual insurance, budget and reserve study disclosures.  We are here to be of assistance and relieve some of the pressure of being a Director or Officer for your association.  We also keep abreast of changes and work actively in the legislative process so that we are aware of regulatory changes through our participation at the local, state, and national level.

 

REPORTS AND COMMUNICATION

We provide monthly reports that include accounting of your owner trust account, copies of all bills paid, any notices received, pictures and/or reports of property maintenance issues, bids for projects requiring your approval, and other updates via e-mail.    Annual reports provide a detailed general ledger, check register, year-end profit and loss statement, and copies of 1099’s to vendors for your tax preparer.  These are also sent via e-mail.  We are also available via e-mail, phone or mail for any personal questions or concerns that may arise from time to time.  Our website blog is also available for queries, too!

 

NEED MORE INFORMATION

 Please contact us today for more detailed information and to discuss property management services for your association.  We would be happy to provide you with more detailed information, copies of sample reports, and references.