Being a landlord is about a lot more than just placing a tenant and collecting rent. You have to maintain your property, hold your tenant accountable to the rental agreement, and stay up to date on all the local, state, and federal laws that pertain to rental housing. Today, we’re sharing a few tips on how to be a successful landlord.
One of the most common questions we hear from rental property owners is: do landlords have to have insurance? The answer is, yes. As a landlord, you need insurance to cover your investment in case of a fire, flood, or major catastrophe. More importantly, you need to protect yourself against liability. Talk to your insurance agent or your property manager about what you need in a good landlord policy. Today, we’re covering some of the basics.
Tenant screening is one of the most important things a landlord can do to successfully rent a property. Make sure you have a written screening process in place, as well as written criteria that establishes your requirements for approval. Follow these six tenant screening tips when you’re placing a tenant. (more…)
If you want to successfully invest in real estate, you need to know how to buy rental property. Many property owners fall into the trap of looking for a home that appeals to them. Remember, you won’t be living in this property – tenants will. So, the stainless steel appliances and deluxe master bathroom suite may not be necessary when you’re looking for an investment property. (more…)
If you’re a California landlord, you need to understand the basic rental agreement required by state law. In order to be legally compliant and enforceable, it must include specific elements. We’re talking about those things today. (more…)
Landlord-tenant disputes are often the result of poor communication or one party not understanding their responsibilities. The worst disputes can lead to court appearances, and those rarely work out well for landlords. These six tips will help avoid these disputes, and develop and maintain a positive working relationship with your tenants. (more…)
You may be asking yourself, should I buy a rental investment property? If this is something you’ve thought about, you probably know that real estate can be a very lucrative investment. To be successful as an investor, you have to consider a few things. (more…)
Normal wear and tear in California is not always easy to define. Everyone has a subjective opinion on what constitutes tenant damage and what is actually wear and tear. This is an important distinction, especially when it comes to returning a security deposit. (more…)