News & Updates

We live in a fast moving and changing world. LRS has been in the property management, and sales business since 1988. What was once, is no longer, and what is today will soon change by tomorrow. Between the pandemic and our changing values with regard to many cultural issues we seek to find our balance. As society changes, and all businesses try to conform to existing "norms" property managers and real estate agents must do as well.

Over the past 4 decades the property management has changed in so many ways, from rent control, evictions, tenants rights, the definition of quality, and hiring and using vendors. 40 years ago you had "your handyman...

The price of real estate continues to increase, the prices for both single family homes and multifamily have skyrocketed. Rents are at an all time high, as we slowly recover from the Pandemic. Prices for real estate have increased throughout the United States and the world.

I have spent the majority of my life in the real estate field. LRS Realty & Management was created in 1988, but spent another 9 years or so working with other property management companies. Being a creature of this business, and interested in all aspects, including predicting future trends.

Technology is wonderful!! In particular emails. It can solve problems and it's great for those small details that often get overlooked during conversations. Speaking through the computer, (emails), a manager can add content to his or her delight. Points can be made and backup provided. Following conversations that need to be memorialized in writing, nothing is a better format than an email. Remember typewriters with white out? How about electric typewriters, word processors, etc? For many of us who find ourselves so very busy but for the convenience and the simplicity of an email, well our business would not be the same. However, to be honest, emails are cumbersome, take a long time to write, and most important for our busy world, what takes hours to explain through emails can take 5 or 10 minutes by picking up the phone and talking. Yes, simple to the point verbal conversation is fast and effective. The warmth of a friendly voice on the other end. The ability to solve issues and misunderstandings in "real time". There are times when I see emails, sometimes dozens of them, on one subject, taking everyone's valuable time when a phone call is the best course of action. Some emails are darn right "mean" or seem to be. Perhaps it was hastily written, a misspelled word, or an inappropriate punctuation that conveys a meaning you did not intend. None the less the message was sent and you are not properly heard. In the good "ole days" did you ever write a letter (to those of Generation Z a letter is an ancient way of communicating, ask your parents) and after writing this truly meaningful letter, you just tore it up? Of course you did, but once an email is sent there is no going back. The key to any good relationship, be it in business or personnel, is to have good communication, being able to explain yourself to the other person or persons. One word can change the entire meaning. Once the email has been sent, your point has been made. LRS believes that you should pick up the phone as often as possible and when you accidentally say the wrong word it can be immediately corrected. Human connectivity, a personal relationship, is something that has no equal. Call them up!

LRS Realty & Management was founded in 1988. At that time we specialized in the leasing, management and sales of single family homes and apartment complexes. Starting out in the Los Angeles market, LRS soon developed portfolio's in San Diego, Orange County, San Bernardino and Riverside counties, as well as Ventura and Kern counties. Our footprint is spread through most of Southern California with 5 offices with renting and sales listings, and other income producing streams. Several of our clients own properties in different areas of Southern California , and we are able to service their needs in each local market. We are perfectly positioned to help guide our owners\clients into the best market for their needs. Our fundamental principle of success is based on local knowledge of the "real market" through our "bottom up marketing" with the "team approach" to all that we do. What is the "team approach"? We work together, sharing our abilities, teaching one another, making each individual stronger, with the willingness to step up to help for the success of our team. Success is not always about closing deals, but gaining knowledge and working with our clients so they are comfortable and feel secure that paramount to the relationship is the trust we create. Most agents and property managers determine the value of residential property, both multifamily and single family, from going online, comparing like for like properties in comparative locations. LRS does this as well. The difference is we determine values based on a much wider basis. Further, we comprehensively cover the "micro market", street by street, property by property, making our determinations and value from the bottom up. Each property is unique, each property can achieve higher rent or a higher sales price, by distinguishing certain qualities from nearby other homes and apartment buildings. A few points to note: 1. An open floor plan creates value over the properties adjacent without that type of plan. 2. Certain high end light fixtures create value 3. Walking distance to parks, restaurants, etc can play an important part 4. Certain smells can create value 5. Configurations can increase your rent or sales price 6. Views can have an affect on value Rents in multi-family units can be affected by decorations, or lack thereof, location of the apt or condo in the building, and the "property across the street", can increase or decrease your rents. The reality of the "real market" can be determined only by visiting the properties, and knowing your competition. The bottom up style of marketing is boots on the ground looking for those small competitive advantages allowing us to increase your rents, along with your sales price. The knowledge and information found in the "real market", cannot be found in a computer, or marketing on social media or television. It is out there in the world, and you need to look for it.

As you know, the Real Estate Market is HOT! Properties are selling at record levels and quickly. I am sure the thought has crossed your mind about selling your property. But then the question becomes what should I do with that gain? Well i f you own a condominium you are renting out with LRS, I want you to consider “leveling-up” your condo. If you could sell your condo and buy a single family home at an equivalent value, would you?

In decades of managing properties, we have found that the ability to present to a potential resident an exceptional product, goes a long way to attracting the best. Increasing your services, sharpe make readies, friendly service (that's our dept.), will create a climate now and into the future of tenancy that pays the rent, sometimes a high rent, and become more long term. Homes\apartments are rented faster for higher rent prices. Increases are easier when it is appropriate. Word of caution, at the core of rent increases is high value and more income.

What is Full Service Management? There are many aspects to managing an asset. LRS Realty & Management has been Managing Real Estate investments since 1988. Full Service has different meanings to each of us. At LRS we go by a simple phrase, “buy it right, manage right and sell it right.” LRS works with you in the process of purchasing the property, managing the property and helps you sell the property. Our Clients can move to another town or city, to another state or even another country, and we handle the whole process.