The Eviction Process Eviction…you didn’t want it to come to this. But sometimes, there is no other way. If you find yourself in this position, follow these guidelines: Step 1 – Written Notice In order to start the eviction process, the landlord must first give the tenant written notice. There are 5 types of notices…
Resolving Disputes You would be unrealistic to assume that renting nice property to an accomplished, responsible tenant will result in a problem-free rental period. Potential tenant problems may involve: Disputes among multiple tenants or with other neighbors Rental payments routinely paid after the due date (or not at all) Additional residents and/or pets added subsequently…
Rent payments are cash flow. Any interruption of that income stream could have dire consequences. The good news is, you can take some simple steps to protect yourself. Always include a clause in your rental agreement clearly noting the monetary penalty amount applied if rent is not paid by the noted due date; Always apply…
Don’t let yourself get swallowed up in the financial details of property management. Follow these guidelines to maximize your income potential and minimize your tax bill. Embrace Your Inner Geek Landlord Ther are many effective and inexpensive online bookkeeping applications, such as Quickbooks, Freshbooks, and Xero, as well as specialty apps such as DIY Landlord…
California law limits you to asking a maximum of two months’ rent if the apartment is unfurnished. If the apartment is furnished, however, you can request up to three months’ rent. While there are certain security deposit rules that govern the state of California as a whole, the city or the city or county in…
Sellers of real property must disclose known defects and deficiencies in the property—including earthquake weaknesses and hazards—to prospective buyers in accordance with Civil Code, Section 1102. The California Seismic Safety Commission has developed the following 2 earthquake guides: Homeowner’s Guide to Earthquake Safety and Commercial Property Owner’s Guide to Earthquake Safety The guides include information…
A good time to inspect an individual rental unit is the sooner of once a year or whenever a tenant moves out, whichever comes first. This inspection should include checking: smoke detectors and carbon monoxide detectors – ensure there are fresh, new batteries in all fixtures, appliances, such as dishwashers and refrigerators, to ensure they…
Due diligence on prospective tenants is a good investment of your time. Go beyond the credit report and the usual references. Make sure that your property manager performs a thorough background check on all prospective tenants. More important than talking to the applicant’s current landlord (who may say anything to free him/herself from a troubling tenant)…
The best way to advertise your available property is dependent upon what the people in the area in which you own property generally refer to when looking for housing. Your landlord/property manager should consider all available advertising options when considering how to attract the best potential tenants, including: Checking out the local competition by reviewing…
As a landlord, there are steps you can take to make your property less vulnerable to wear and tear. You don’t need to worry about making it unpleasant or unlivable…just evaluate the appointments and decor of your property on a cost/value basis. Think about minimizing exterior maintenance costs by: Using neutral colors when painting the outside…