Santa Monica Property Management

Silicon Beach Epicenter. Premium Rents. Unmatched Demand.

Santa Monica sits at the intersection of coastal lifestyle, tech-industry money, and one of California's most restrictive supply regimes. Snap, Universal Music Group, RAND, and UCLA Health anchor the employer base; the E Line terminus brings downtown LA to the doorstep. Here is what the rental market looks like from the inside.

Schofield Properties personally manages rental homes and apartment buildings in Santa Monica, California. We handle tenant placement, rent collection, maintenance coordination, and owner financial reporting, with the same person overseeing your property from start to finish. We have managed the South Bay since 1972.

Santa Monica rental market signals

• Market cycle: Stabilization
• Median rent: $2,900/mo
• Occupancy: 0% across Schofield-managed units vs 95.6% market
• Days to lease: 0 days vs 30 market average
• Tenant retention: 0% vs 64.2% market

Rent control plus coastal scarcity equals the most durable supply constraint on the Westside

Santa Monica's rental market is defined by a fundamental tension: 72% of the city's 47,297 occupied housing units are renter-occupied, yet supply is among the most tightly regulated in California. The Rent Control Board's 2025 General Adjustment was capped at 2.3%, far below market rent growth, creating a two-tier market where legacy controlled tenants pay below market while market-rate units command a steep premium. The result is structural scarcity that a 2,300-plus-unit construction pipeline barely dents in a market with vacancy below 5%. An extraordinary employer base anchored by UCLA Health, Snap Inc., Activision Blizzard, Universal Music Group, and RAND sustains a renter pool of credentialed, high-income professionals who consistently absorb new supply.

Neighborhoods we manage in Santa Monica

• North of Montana — Santa Monica's most prestigious residential pocket, with tree-lined streets, California bungalows to modern estates, and direct access to Montana Avenue boutique retail where rental product rarely lists and leases within days. Average rent about $6,200/mo (+3.5%).
• Ocean Park — South of Pico and west of Lincoln, an eclectic arts-oriented neighborhood attracting creative professionals and remote workers with lower rent control exposure in newer stock. Average rent about $3,800/mo (+2.8%).
• Sunset Park — Southern Santa Monica's quietest residential district, family-oriented and single-family heavy, adjacent to Santa Monica College, with rents running 20% to 25% below North of Montana and consistent demand. Average rent about $3,200/mo (+2.2%).
• Wilshire-Montana / Downtown — The commercial spine from Lincoln to 4th Street bookended by the Montana Ave corridor and the Third Street Promenade, with high-rise condos and dense tech-company offices walkable to the E Line Downtown station. Average rent about $3,600/mo (+1.5%).

What we are seeing on the ground

• Two-tier market: rent control vs. market-rate is widening — The 2025 General Adjustment of 2.3% (max $60 per unit) locks thousands of legacy tenants far below market, concentrating demand pressure on uncontrolled units, specifically post-1979 buildings and SFRs. The gap between controlled and market-rate rents is the widest it has been in a decade.
• Snap and Silicon Beach anchor top-of-market renter demand — Snap Inc. (1,575 employees), Activision Blizzard (1,294), Universal Music Group, GoodRx, and Headspace collectively place tens of thousands of well-paid tech workers within commuting distance of the Santa Monica rental pool. Out-of-state hires entering at executive salaries set the clearing price for 1BR units above $2,700.
• Vacancy ticking up but still supply-constrained — Santa Monica apartment vacancy was pegged at 5.2% in December 2025, up from 4.5% a year earlier, a modest softening driven by new deliveries and not demand erosion. The 2,300-plus units in the active construction pipeline represent years of backlogged demand; once absorbed, the structural floor reasserts itself.

Property types we manage

• Single Family Residences: 14 units under management, averaging $5,800/mo at 98.2% occupancy. North of Montana commands highest SFR premiums citywide.
• Small Multi-Family (2-8 units): 38 units under management, averaging $3,450/mo at 96.8% occupancy. Sweet spot for buyers: $2.3M to $3.6M, 5 to 12 unit assets move fastest.
• Large Multi-Family (9-18 units): 52 units under management, averaging $2,850/mo at 95.8% occupancy. Premium neighborhoods (Montana Ave, Ocean Park, Wilmont) command top buyer interest.

Nearby markets we also manage: Venice property management, Culver City property management, West Los Angeles property management, Beverly Hills property management, West Hollywood property management.

Book a call to talk about managing your Santa Monica property, or run the free rental model to see what your unit should earn.

Frequently asked questions

Does Schofield Properties manage rental property in Santa Monica?

Yes. Schofield Properties manages single family homes, multi family buildings, and apartments in Santa Monica, California (90401, 90403, 90404, 90405), from our office in nearby El Segundo. We have managed the South Bay since 1972.

How much does property management cost in Santa Monica?

Full Service management in Santa Monica runs 8 to 10 percent of collected rent, with no setup fees and no markup on maintenance.

What does property management in Santa Monica include?

Tenant placement, rent collection, maintenance coordination, lease renewals, and monthly owner reporting, all overseen personally by your dedicated Santa Monica property manager.