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Tenant Management and Renovation Strategies

Turn over vacancies quicker.  Fast rehab and remarketing.

Analysis of occupants in the units.  Are there too many?  Are the correct tenants living there?

Zero tolerance policy for late rents, especially on low paying tenants.  3-day notice and straight to eviction or negotiate a move-out.

Negotiate buy-outs with lower paying tenants in rent control property

Rehab for new lease program or relocation of current tenants to rehabbed units in the building.

Cancellation of Section 8 contracts and re-renting at market rate.

Rehab – Research what kind of unit finishes will achieve the highest rent in a sub-market, such as wood flooring in Hollywood.

Rental increase pass thru program from City of LA

Improved tenant screening to reduce evictions

Conversion of non-conforming units to conforming units.

Generate Additional Income 

Laundry – Sign laundry lease with bonuses or re-work existing contract.

Storage – Find ways to put storage on the property and charge tenants

Vending – Install machines on bigger buildings

Cable Contracts – Talk to companies about contracts

Parking – Develop ways to add parking/install secure garage doors over existing spaces higher rents.