SKY Properties, Inc.

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6711 Forest Lawn Dr., Suite 107
Los Angeles, CA 90068

(323) 882-6606

 

 

 

 

FREQUENTLY ASKED QUESTIONS

How much does it cost to manage a building?
5% of the monthly gross revenues generated by the Property (Minimum management fee is $750/month) See our pricing structure here.

What is the minimum size building you manage?
We have earned awards for best on-site manager and training. As such, we are optimized to manage buildings with at least 16 units.

Do you manage condos, HOA’s, or single family residences?
We do not. Our focus is on large apartment and commercial buildings.

What is the term of your management contract?
One year.

How do I hire SKY Properties, Inc.?
Simply call us at (323) 882-6606 or email us using the form.

How do you screen prospective tenants?
Through On-Site.com, our electronic online application process.

When you find an applicant for my property, how do you qualify them?
Sky Properties has created a Renter’s Qualification sheet that is attached on our FAQ’s Page.

Do tenants that rent my property require rental insurance?
Yes, $100,000 renters insurance and it can be bundled with current policy or use suggested companies like E-Premium

What is usually looked for in tenants?
Good landlord referrals, 3x the rental amount verifiable income.

What documentation is required for tenants?
Identification, 3 months of bank statements and 3 consecutive pay stubs.

What is the length of the average tenancy?
12 month Lease, it becomes month-to-month as the original lease expires.

How do you market your rentals?
Appfolio syndicates to almost 30 rental websites and through paid service such as Apartments.con (CoStar Network), Zillow and Rentpath Websites

How long will it take to lease my property?
It is dependant of the amount of units pre-lease and occupancy of the building.

How and when do you disburse payments to your owners?
Once a month, owner draw or per request if funds are available.

How quickly do you process the Financials statements to property owners?
SKY creates a End of Month Report or “EOM” for each property along with their monthly draw.

How are rental collections handled?
Our tenants have the option of paying on our tenant portal Appfolio, through secured checks, money orders, payslip or personal check.

How much will my investment property lease for?
Vacancies are priced on the current market for the area the building is located in.

How do you determine the best rent for my property?
We use several methods for pricing units such as size, location, in-unit amenities and building amenities.

Who pays for damage by the tenant?
The tenant’s renter’s insurance or chargeback to the tenants account.

Where do you manage properties?
The Greater LA county, from South Bay to the SFV.

What property management experience do you offer?
Over 20 years worth of knowledge in the LA area.

Are your property managers certified in the state they do business in?
Yes, our manager have on-going training through Gracehill and quarterly meetings

What do property managers do?
Each building manager is responsible for rent collection, overseeing work orders, on-call, resident relations, turning vacancies.

How often will I hear from my property manager?
Only a few times a month, but this can vary due to certain circumstances.

Why should I choose your company instead of another?
We offer customizable and outstanding customer services.

Is there an existing pet or smoking policy for the properties you manage?
Pets are okay in some buildings, but we do have breed restrictions and offer NO PET DEPOSIT.

How do property inspections work?
Inspections must provide a notice to enter dwelling up to

What if I want a rent amount that is higher than your recommendation?
We will provide a market survey to show the market of properties nearby.

Who handles the middle of the night calls?
Our emergency phone line, listed on our contact page.

What if the tenant wants the locks changed?
They must provide the property manager with a copy of the updated keys.

Can I inspect the property whenever I like?
No, by law we are required a 24-48 hour notice depending on the reasoning.