Frequently Asked Questions
Thank you for visiting PMI Golden State. We understand that choosing the right property management company for your investment property can be quite a challenge. Property Management Inc is one of the largest management companies in the United States with over 200 offices nationwide. We offer free consultation and promise to hold your hand through the process. Here are some of the questions most frequently asked by our new clients. If you have questions that are not addressed here, please feel free to email us at firstname.lastname@example.org or call 323-977-2008.
- PMI does not charge early termination fees for our management service. If you are not satisfied with our service, you may cancel our agreement at any time with a 30 day notice.
- We use the new cutting edge technology with 360 degree photos inspections. Most companies are still using checklist for move-in and move-out inspection.
- When we approve a tenant, we guarantee that our tenant will be a quality tenant. If the tenant breaches our lease agreement within the first 12 months, we will secure the next tenant for free.
- Communication is always the main problem with property management companies. We respond to all owner and tenant calls and emails within 24 hours. If we fail to respond, that month’s management fee is on us.
- We have been awarded as one of the best property management companies in Los Angeles by propertymanagement.com. We are also a member of Apartment Association of Greater Los Angeles (AAGLA), National Association of Residential Property Manager (NARPM),
Generally, there are two main fees we charge owners. One is leasing and another is management fee. You can hire us for either or both.
The leasing fee includes:
- Lease Agreement & Signing
- Virtual Tour
- Move-in Inspection
The management fee includes:
- Day-to-day operation
- Rent Collection
- Accounting and Tax Reporting
- Software and Online Portal
- Lease Administration & Enforcement
- Tenant Customer Service for Both Tenants and Landlords
- 24/7 Emergency Call Center
- Expert Consultation
For more information, please refer to our pricing page.
PMI Golden State has access to large data bases including the MLS. We will gather the history of nearby rentals and perform Comparable Market Analysis. You may submit your address for a free rental analysis.
A member of our team is also on call after hours and on holidays and weekends to handle maintenance emergencies.
Management will pay all authorized payments relating to maintenance and etc and disperse to the owners between 14-16th of each month.
Over 50% of prospective tenants have pets. We recommend that landlords accept pets if you wish to increase the competitions for your rental. We charge tenant $500 in security deposit and $50 in pet rent for each pet. You can limit the weight limit to less than 25 lbs if you are afraid of pet damage or use our Pet Guarantee Protection with Platinum or Diamond Service Plan
Tenants expect the property to be in “hotel room clean” condition which may include:
- Painting(preferably with neutral colors)
- Carpet cleaning
- Interior cleaning including appliances
- Window coverings
- Smoke detectors in every bedroom and carbon monoxide alarm on each level and hallway
All major systems must be in operating condition and all health and safety issues to be addressed. Our firm can recommend vendors to you directly or we can help coordinate most of the work with 10% markup.
The same philosophy can be applied for washers and dryers. However, we understand that the costs are higher for these appliances. You can choose not to install them if it’s going to be over your budgets.
Although we screen carefully to be sure we are only placing qualified tenants in your property, there is always the possibility that a tenant may fail to pay rent. PMI Golden State enforces a very strict rent collection policy to protect our owners’ interests and our current eviction rate is below 1%. All rent payments are due on the 1st of every month, and late fee is charged by the 4th day. If unpaid after the 6th day of the month, a 3 day notice to pay will be served. We will contact the owner to make them aware of the situation and explain available options. It has been our experience that most tenants will pay before the expiration of the notice or make contact with our office to explain the delay. If the tenant does not pay or vacate within the five days prescribed, the next step is filing an eviction. The property owner does not have to appear in court, this is a process we handle for you with our eviction attorney (court, attorney, and representation fee will apply). PMI Golden State also offers Eviction Guarantee Protection with Platinum or Diamond Service Plan to cover this expense.
You may also be eligible to file a Nonresident Withholding Waiver Request form (CA FORM 588) if you are still filing taxes in California. PMI can walk you through this process or/and you can consult your CPA.
The average market time is 30 days. However, if the rental property is priced properly, it may be rented as early as that same week.
PMI Golden State
ATTN: Jesse Sasomsup
15303 Ventura Blvd #900
Sherman Oaks, CA 91403
Please call us if you have any questions at 323-977-2008
- We run a full credit and criminal background check for everyone over 18 years of age.
- The proof of income is 3 times to rent amount ratio
- Minimum FICO scores of 650
- We will call both current landlord and employer to verify the information
For more information, please visit our Rental Criteria
Either the owner or management can keep the deposit but we recommend our clients to keep the funds in our broker’s trust account. If you wish to retain it and the tenant files a small claims court lawsuit, we may not be able represent you in court because you have the fund in your possession.