Frequently Asked Questions - Property Management

Pacific-Realtors.net

Serving Southern California Since 1987

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How long has Pacific-Realtors.net been in business?

The firm started doing business in 1987. The owner, Michael Chulak, became licensed as a real estate broker in 1971.

 

Why should I select Pacific-Realtors.net to manage my rental properties?

The management of Pacific-Realtors.net will provide you with high quality advice that will save you money while protecting your interests. Michael Chulak, who provides property management training to our staff, became a real estate broker in 1971, a Certified Property Manager (CPM®) in 1979, a licensed general contractor in 1979, and an attorney in 1998. The high-quality advice we provide our property management clients separate us from other management companies. We do our very best to protect our clients while providing excellent management services. We have been serving clients since 1987.

 

Why is your company membership in the Apartment Association of California (ADA) important to your property management clients?

Our membership in AOA provides us with legal updates that we need to protect our clients. These updates are in the form of new statutes as well as recent court decisions. Membership is essential.

 

What is the policy of Pacific-Realtors.net concerning commission splits with other real estate brokerage firms?

When Pacific-Realtors. net lists a home for sale or lease we always place the listings in the Multiple Listing Service (MLS) and offer a 50% commission split. This assures that our client's property will get maximum exposure to potential buyers or tenants and that real estate agents with other offices will enthusiastically refer their clients to us. Some real estate brokers refuse to split commissions, offer very small commissions to other agents, or refuse to place their listings in the MLS. This works to the great disadvantage of their clients and is considered unethical.

 

What is a Pocket Listing?

Pocket Listing can refer to a listing to sell real estate or lease real estate. A pocket listing exists where an agent does not place the listing into the Multiple Listing Service (MLS). In most cases, a pocket listing works to the advantage of the listing agent and to the disadvantage of the client. See: Pocket Listing - Real Estate Sales and Pocket Listing - Rental Property Leases. Before entering into a pocket listing, you should also see: Dual Agent Relationships.

 

How Does Pacific-Realtors.net keep current on all of the ever-changing laws that affect rental property owners?

Pacific-Reators.net is a member of the California Apartment Owners Association which has a staff whose job it is to keep its members informed about new laws that are enacted and new court cases affecting our industry. Michael Chulak the owner of the company, who practiced real estate and homeowner association law for many years, stays informed and is a constant source of training benefiting our agents, staff, and clients.

 

Can Pacific-Realtors.net provide us advice on how we should hold tittle to our property?

Only an attorney can provide such advice, however, we have provided educational material on this website to assist you. See: Holding Title to Real Estate in California.

 

Does Pacific-Realtors.net use an in-house accounting staff to prepare monthly financial reports for its property management clients, or an outside  accounting firm?

Our firm has a Chief Financial Officer (CFO), but uses an affiliated firm to perform bookkeeping services for property management clients. The outside company reports to our CFO.

 

If I sign a management agreement with you to manage my rental home and decide to sell it, am I required to list it for sale with your company?

No. You are not required to list the property for sale with us, but we hope and expect that you will want to do so. When selling leased rental homes, we are usually able to save our management clients' money. Please read: How Pacific-Realtors.net Saves You Money When You Sell Your Rental Home.

 

How is Pacific-Realtors.net able to manage rental homes for a maximum flat fee of $150 per month when other management companies charge far more?

We are highly organized and very efficient. We also maximize the use of technology. Our firm has been providing management, leasing and sales services for our clients since 1987. A fee of $150 per month covers our costs and a modest profit. Owners of rental homes should never pay more than $150 per month for property management services.

 

Will I be required pay at the rate of $150 per month if my rental home is vacant?

If you sign a management agreement with us and hire us to lease your vacant rental home, the $150 per month fee will start when the lease becomes effective. After that, if the property becomes vacant, the $150 per month will be charged.

 

I currently have a real estate company managing my rental home. How do I transfer the property management responsibility to your company?

It's easy. Send an email giving them the required notice of termination and sign a management agreement with Pacific-Realtors.net to commerce the day after the expiration of their services. We will handle everything directly with them, obtaining any necessary documents such as the lease, lease application, credit file, and any correspondence.

 

What services do you perform when managing a rental home for a client?

Please refer to: Summary of Services Performed for Rental Home Clients. If requested, we can perform nearly any services that you may need.

 

I want to sell a home that is currently leased and the lease doesn't expire for several months. As a practical matter, do I have to wait until the lease is near its end before I offer the property for sale?

No. We have many potential buyers for rental homes. These investor-buyers would prefer to acquire a property that is already leased. Selling to a real estate investor will save both you and the buyer money. Many of our rental home property management clients are in the market to buy more rental properties.

 

Can I refuse to accept pets in my rental properties?

Absolutely. Most of our property management clients do not accept pets, but the decision is always yours.

 

If I decide not to accept pets and my tenants get a pet, what can I do?

A material breach of the lease can result in your providing the tenant with a notice to remove the pet or vacant your rental property. If the tenant refuses to give up the pet, you can either accept the fact or proceed to evict them.

 

Can I prohibit my tenants from smoking in my rental homes?

Absolutely. Most owners prohibit tenants from smoking in their rental properties due to the cost of eliminating the strong odor caused by smoke. We strongly recommend that you prohibit smoking in your lease agreements.

 

Will I be able to reach my property manager after hours and on weekends?

Yes. You will be provided his or her cell phone and an emergency phone number that is monitored by one of the owners.

 

Pacific-Realtors.net has an excellent website and reputation, but I noticed that you are not listed as a "Top Realtor" on any of the websites that recommend "Top Agents" in Agoura Hills, Oak Park, Westlake Village and other nearby communities. Can you explain why you are not listed as a top real estate agent or broker on any of these websites?

Yes. The websites are advertising websites where real estate brokers and agents pay to be listed as a 'top agent'", "best agent", or "top rated agent". When you receive a referral from one of these of these websites, what you are getting is a real estate agent that was willing to pay for advertising on that site. There is of course, nothing wrong with advertising. Nearly every real estate brokerage firm and agent advertises in one form or another. Some use these paid referral sites, and others like Pacific-Realtors.net, use other means to attract clients such as our own websites, our signs which can be seen throughout Southern California, direct mail marketing, and referrals. Referrals come from satisfied clients, referral agents, and other brokers.

 

Does Pacific-Realtors.net recommend that buyers of real estate utilize the services of a mortgage broker, a commercial bank, or a credit union?

While mortgage brokers have differing levels of knowledge and experience, and some have better reputations for performance, a good mortgage broker can nearly always outperform a commercial bank or credit union when it comes to originating  real estate loans. The reason is simple. Mortgage brokers develop multiple sources of mortgage loans, provided by wholesale lenders, allowing them to shop for their clients in order to obtain the best loans available.

 

Does your firm ever joint venture the purchase of investment properties with others?

Yes. We will consider the joint venture of homes, rental homes, apartments, commercial properties, and land. Call Michael Chulak to discuss a potential joint purchase of any type of real estate.

 

Can a non-citizen own real estate in the United States?

Absolutely. Whether you are a citizen or a non-citizen, we would be pleased to help you purchase a home, land, or any other real estate.

 

Can foreign governments purchase apartments, rental homes, and land in the United States?

Yes. Foreign governments can and do purchase all types of properties in the United States. China is the largest foreign purchaser of properties in the United States.

 

When I sell my house, I intend to move out of California and retire. Can you refer me to a reliable, knowledgeable real estate agent?

Almost always.

 

I would like to start a career in real estate. Do you have any suggestions?

You have already made a good start by visiting our website. You will need to take certain required courses which you can take through First Tuesday. They are an excellent company and you can contact them through our site. They will give you a discounted price when you contact them through Pacific-Realtors.net. They also offer an excellent, prelicensing exam crash course which we highly recommend. Our firm also offers a real estate licensing crash course which is absolutely free. Information is on this site.

After you pass the state exam, we would like to meet with you in person if you are in Southern California or via Zoom if you are not local. After learning more about you and your career goals, we will assign a mentor to you and will provide you with excellent training. Of course, you many contact us at any stage or at any time. Please ask for Michael Chulak.

 

I would like to join your real estate company but I live very far from your corporate office in Agoura Hills. Can I work from my home in Northern California if I join Pacific-Realtors.net?

Yes. It is not necessary to work from Agoura Hills. Today, most real estate agents do most of their work from their home.

 

I am a very successful real estate agent with a dedicated team located within ten miles of Agoura Hills. Will you consider opening a Pacific-Realtors.net office for my team?

Yes, assuming you have a proven record of success over a period of at least two years.

 

Does the opportunity exist within your firm for a successful Realtor to become a part owner of the company?

Yes.

 

Is Pacific-Realtors.net interested in acquiring small independent real estate brokerage firms in Southern California?

Yes. Please call to discuss.

 

What is Build to Rent Housing?

Build to Rent Housing is a concept that became prevalent after 2016. It generally refers to single family detached homes developed for the purpose of leasing them to residents. They tend to be small homes with large patios or small yards. Build to rent housing units may be owned by large corporations or individual investors.

 

How much are real property taxes in California and how are they calculated?

Real estate taxes in California consist the 1% rate established by Proposition 13 in 1978 plus voter approved debt and district levies. Voter approved debt and district levies vary, but average about .25% for a total average tax of 1.25% of the fair market value. This is an estimate only.

 

What rental properties are subject to rent control in the City of Los Angeles?

A summary of the Los Angeles Rent Stabilization Ordinance (RSO) has been provided. It is not a substitute for reading the entire law and it should not be considered legal advice. Only an attorney can provide legal advice.

 

We own rental units in Los Angeles that are subject to the Rent Control Laws in the City of Los Angeles. Under what circumstance are we permitted to evict a tenant?

Under the Rent Stabilization Ordinance (RSO) or rent control law, owners are limited as to why, how, and when they can evict a tenant. There are twelve legal reasons that allow an owner to evict a tenant in Los Angeles.

 

May we distribute your articles to others and add them to our website?

Yes, provided we are given credit for writing the article. Every one of our articles includes our identifying information at the bottom which must be included. There is no cost for using our articles.

 

Pacific-Realtors.net
818-991-5200