Trilliant Property Management

Pasadena, CA

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About this pro

How does your business stand out?

Experience ---------------------- We have over thirty years of combined experience in real estate investing that includes flipping houses, real estate development and new construction, buy-and-hold rental property, and property management. Over the years, we have seen it all, and this makes us uniquely suited to handle all aspects of managing rental properties. Quality ---------------------- The primary reason that we started Trilliant was to shore up a gap that we observed when investing in real estate: a lack of quality property management companies. Our goal at Trilliant Property Management is to fill the gap by giving our owners and residents the ultimate property management experience by providing pleasant, professional, and honest service. We will work hard to maintain our commitment and strive to exceed expectations every step of the way. Knowledge ---------------------- We know that the primary goal of our owners is to maximize their profits! After all, real estate is an investment. The good news is that we have decades of experience maximizing profits in real estate investments. In fact, last year new owners that came to Trilliant Property Management made an average of 11% more profit once we took over the management of their units.

What do you enjoy about the work you do?

Our favorite part of our job is the systems engineering aspect of property management. Every new property brings with it unique challenges and obstacles. We love taking in all of the details, analyzing the system, and finding ways to reduce unnecessary costs while at the same time maximizing revenue. This is the problem solving aspect of property management: how do we maximize profits for these properties? Being able to do this for people, and giving them better returns and more comfort in their investments, all with less stress. Helping people realize their goals.
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Location

Pasadena, CA 91103

Times hired on Thumbtack

6

Reviews

12 Reviews
  • Hanaa A. Apr 14, 2016
    Property Management
    Verified Review
  • AdaF K. Apr 1, 2016
    Trilliant is phenomenal! They have done a fantastic job in managing our HOA since they took over three months ago! I am on the Board of the HOA. Working with our previous company was such a pain. In a nutshell, they had failed to meet my expectations and left us a mess to deal with. Trilliant came in and picked things up in amazing speed and with impressive results... Here are the things that impress me: 1) Knowledgeable Chris M and Chris HP are sharp and quick study, yet friendly and humble. 2) Dedicated and committed Very hard working and result oriented. They really care about the building and our concerns, and it shows! 3) Great customer service Consistently professional & courteous, quick responses, great and thorough follow up on matters big and small 4) Easy and friendly to work with Chris M and Chris HP are very people oriented and skilled to handle different types of homeowners in a professional manner 5) Current technologies Online portal to check your account and submit repair requests, very methodical and handy I found Trilliant on Yelp. My initial phone conversation with Chris M the owner was just to see what Trilliant is all about. All those 5 star reviews all seem too good to be true. But Chris M patiently, thoughtfully and promptly answered all my 1001 questions. Just that alone tells me something about Trilliant. I did my homework and actually talked with the references that Chris gave me. Nothing but rave reviews from them too!! Great job Trilliant!
  • Ro R. Dec 30, 2015
    Property Management
    Verified Review
    Trilliant is AMAZING!! I am the president of an HOA and we had nothing but problems with our previous company. I didn't even realize all the things the other company didn't do until I saw what Trilliant did when they took over. Chris and Chris are very knowledgeable, dedicated, hands on, and really nice people. I would highly recommend them to any HOA. Our HOA has 6 members and we were working almost full time and within a very short time Trilliant organized us and addressed all of our issues. They are very different from most companies in LA, always reachable and wanting to help bring the building to the next level.
  • Alan Y. Dec 7, 2015
    Property Management
    Verified Review
  • Itay G. Nov 23, 2015
    Property Management
    Verified Review
    Reliable, available and very nice to work with.
  • Mirta I. Nov 9, 2015
    Property Management
    Verified Review
    They are always available and spend as much time as necessary to finish the job, they have been able to handle difficult tenant in a very professional way.
  • Jessica C. Jun 17, 2015
    Chris Mardelli was friendly and professional to perfection. After working with other companies in the past I was surprised at the quality of service he provided at reasonable rates. He delivered exceptional work with impressive skill all while taking care of everything necessary to get the job done. Trilliant Property Management has been solidly dependable for my needs and I would recommend them to anyone needing this type of service.
  • Manolis D. Jun 16, 2015
    As an investor my priorities are to maximize profit and minimize time and headache. Trilliant worked to get units rented to good tenants in short order and at market value. Chris has great attention to detail and responds quickly. All this adds up to great customer service. Trilliant has taken the burden out of property management and helped me move on to expanding my investment portfolio.
  • Jessica C. Jun 14, 2015
    I've made a few purchases in real estate in the past few years as investment properties, but it was becoming exhausting to be a land lord. I always thought real estate would be a good investment for retirement but never saw the returns making sense with all he time we were spending dealing with our tenants. We turned to Trilliant to manage our small portfolio, hoping we could at least not deal with the hassle of tenants. They have done a phenomenal job managing our properties. My only regret is not hiring them sooner, it's made a big difference in our sanity and our return.
  • Craig S. Jun 13, 2015
    Trilliant took over the management of our single family home. They really know their stuff and have been very helpful. Our unit is rented out and we couldn't be happier.
  • Ilana G. May 21, 2015
    Trilliant took over the management of our 10 unit HOA in Pasadena, CA. They helped us transition away from our old property manager, who was being difficult and not keeping up on the property. We knew that our old management company wasn't doing things correctly, which is why we were going to make a change, but we had no idea how far gone things had gotten. When Trilliant arrived, we had no management plan, no financial projections, and were squeaking by on our monthly HOA dues. It has been just over 2 months since Trilliant took over and they have already decreased our expenses by over $10,000 per year! For example, they pointed out that we were being severely overcharged by some of our service providers (e.g., trash service and phone service) and renegotiated the contracts accordingly (replacing some providers to get us better deals). In addition, they have implemented a full management plan (including financials, maintenance, and capital expenses). We have been blown away by their knowledge and expertise, and would recommend them to anyone looking for a property management company!
  • Danny G. May 19, 2015
    As a property owner I cannot say enough good things about Chris Mardelli and Trilliant Property Management. They have helped me increase the rents on my units, keep all the paperwork in order, and are exceptional communicators. If you are looking for HOA management or like me looking for rental unit management you have found the right business and contact to manage your needs.

Q&A

What advice would you give a customer looking to hire a provider in your area of work?
Whomever you hire, make sure they are honest, reputable, and hard working. Not all property management companies are equal.
What questions should customers think through before talking to professionals about their project?
How a Discount Property Management Company Can Cost You ---------------------------------------------------------------------------------------- Do a Google search for "Property Management Companies," select one, hire them, and be on the road to real estate riches. It's that simple; right? Unfortunately, one of the most common misconceptions in real estate investing is that all property management companies are the same in managing an investment property. The truth is that the property management company you select is the #1 indicator of how profitable your rental property will be. In this post, we outline a few of the key items that you should lookout for when hiring a property manager, or when managing your property yourself. Either way, paying attention to these details could increase your profits by thousands of dollars per year, and we hope they do! HOW A DISCOUNT PROPERTY MANAGEMENT COMPANY CAN COST YOU What you don't know can hurt you. This is the lesson that has been learned by many of our owners, who were losing significant amounts of money due to the mismanagement of their property by their prior property management company. The worst part is that some of these losses were subtle and went unnoticed. Recently, we took over a small portfolio consisting of an 87-unit apartment complex and a set of 16 four-bedroom townhouses. The owner of these units had hired a discount property management company in an effort to reduce costs and to maximize the profits for these units. Unfortunately, this plan backfired, costing the owner tens of thousands of dollars per year. It was fortunate that the pre-existing property management company attempted to increase their rates, spurring the owner to search elsewhere for a new property manager. Upon meeting with the owner and looking over the property financials, utilities, and management plan, it was apparent to Trilliant that these properties were being mismanaged in several ways. We compiled a list and outlined the shortcomings of the management approach with the owner, explaining how they had been losing more than a hundred thousand dollars per year due to mismanagement by the prior company. These are just a few of the problems that we found with the property during our analysis and are some of the most common issues to look out for: - Lost Revenue due to Low Rent Rates: Setting rental rates too low is a trap many property management companies fall into, as they try to simply get the units rented as quickly as possible. The 16 townhouse units were renting out at $495/month below the market rates, resulting in a loss of $95,040 in lost potential revenue annually! Additionally, the 87 apartment units were renting out at an average of $50/month below market rental rates, resulting in $52,200 in lost potential annual revenue. Setting the rental rates too low is a trap that many property management companies fall into, as they attempt to simply get the units rented as quickly as possible. Something many owners don't consider is that an unusually high occupancy rate may actually mean rents have been set at submarket rates. Unfortunately for this owner, the preexisting property manager struggled to maintain low vacancy rates, even with the submarket rents due to poor marketing. - Lost Revenue due to Excessive Vacancies: One of the most critical aspects of property management is the presence of a rigorous marketing plan. Unfortunately, the previous property management company was lacking in this department. They were unable to consistently keep all of the units rented, even when they had set below market rental rates. Trilliant pointed this gap in marketing out to the owner, explaining how an effective marketing strategy could readily shore-up this gap. - Lost Revenue due to Slow Tenant Turnovers: Many property management companies are sluggish, taking several weeks if not a month or two in order to turnover and rent out a unit after an existing tenant moves out. This is a massive problem, as when it comes to turnovers: time is money. Every day that the unit is not rented represents money that is left on the table. At Trilliant, we pride ourselves on fast turnovers. We begin marketing the unit as soon as we receive the notice that the current tenant is vacating, allowing prospective tenants to reserve the unit even before the existing tenant moves out. Additionally, we pride ourselves on a rapid turnover between tenants, always striving to have unit turnovers take less than a week. This fast turnover coupled with our preemptive marketing has enabled us to maintain extremely low vacancy rates, maximizing our owners' profits. - Expenses due to Utility Mismanagement: Overcharging is rampant in the utilities industry. Trilliant pays attention to the details, because we know that is where the profit is made. One of our initial priorities when bringing on a new owner is to analyze all utility contracts in order to ensure they are not paying for anything that they do not need and are not paying too much for the utilities. - Expenses due to a Lack of Vendor Negotiations and Proper Maintenance Prior to Trilliant coming onboard, the maintenance and upkeep plan for these units were incomplete. In fact, the property management company did not properly maintain the HVAC and boiler systems, resulting in several boilers needing replacement and major spikes in the utility bill, costing tens of thousands of dollars extra over the course of a couple of years. THE RIGHT PROPERTY MANAGEMENT COMPANY CAN INCREASE YOUR PROFIT Upon hearing our detailed analysis of the property the owner decided to hire Trilliant Property Management to oversee the property. We immediately began working on the owner's behalf to rectify the existing issues with the management of the property. The most important and time critical piece of the initial takeover plan was ensuring the tenant payment management was transferred over seamlessly, ensuring that the owner maintains seamless cash flow from their property. Once the tenant payment processing was transferred over and put into place, it was time for us to focus on solidifying the management of the entire property. These are some of the solutions and outcomes brought about by Trilliant Property Management and that can easily turn a property around from mismanagement: - Increased Rental Rates: We increased all rental rates to be in-line with the market, resulting in an increase of $147,240 a year in potential annual rental. - Increased Rental Revenues via Effective Marketing: We market all of our units at least 30-Days prior to them becoming vacant and year-round for larger properties with recurring vacancies, enabling tenants to get on a waitlist and put down deposits for units in advance. We market 24/7/365 on over 70 online rental websites, ensuring that all of our units achieve maximum market exposure. For these units, we were not only able to achieve nearly 100% occupancy, we also created a waitlist for the units and have numerous tenants signed-up. - Implemented Rapid Turnovers: At Trilliant we strive to complete all turnovers in a week or less, including all cleaning, maintenance, and repairs between tenants. - Renegotiated All Utility Contracts: Trilliant negotiated with all vendors of the properties including the elevator company, the internet provider, the phone provider, and the trash provider, resulting in over $4,000 in annual savings. - Implemented A Rigorous Annual Maintenance Plan and Negotiated with Vendors: The quality of vendors is critical for maintaining a property. Vendor screening and selection is truly a place where the wrong decisions can cost you in the long-term. At Trilliant, we require all of our vendors to be licensed, bonded, and insured, protecting you and your property. Additionally, make sure that your property is taken care of from top to bottom, ensuring that the entirety of the property and property subsystems (ex: HVAC, electrical, etc.) are all properly maintained. Not all property management companies take the same approach, frequently leaving out major portions of a property maintenance and upkeep plan. We implemented a rigorous annual maintenance and upkeep plan, as well as a 10-year major maintenance plan. We also renegotiated with all of the vendors to achieve the best rates possible. Overall, in taking over this property, we were able to create over a hundred thousand dollars in increased revenues (and consequently profits) for this owner. This is not uncommon. At Trilliant Property Management, our goal is to maximize our owners' profits. ---------------------- With the proper diligence and implementation of the items discussed here, you can turn around your property and increase your profits immediately. Choosing the right property management company can have exceptionally good results for your investment!