Under California law, a landlord is legally responsible for maintaining rental units to comply with state and local building and health codes. This includes ensuring that the structure of the unit, as well as its interior and exterior, are maintained. However, tenants are responsible for repairing damages that were caused by the tenant or his/her…
Hiring someone to manage your property and tenants is an expense that you will have to consider when determining the net profit of your investment. The amount you pay your manager can vary based on whether you are hiring an individual to live on the property or contracting with a property management company that visits…
As a property owner and landlord, your responsibilities to your tenants are established under federal, state, and local laws, as well as the lease you establish with your tenants. Some of the basic responsibilities that you, as the landlord, must manage include: 1. The overall cost to maintain your rental property structure, such as maintaining/managing:…
Ready to pull the trigger? Here are a few tips that will enable you to evaluate properties in a smart and systematic way that will help you make the best investment with your time, and your money. Avoid Buying Sight Unseen Buying a property out of state has some benefits, but buying a property…
Investing in real estate has its benefits–especially with low interest rates, the promise of cash flow, and the benefits of diversifying investments. But applying this simple advice can help you create the success you want. Evaluate returns You are making an investment. Evaluate on that basis. Remember the one percent rule: this standard rule of…