Answers (5)
- NoviceLandlord
- Contributions:1
Consider using a Property Management service. Look in your local phone book for "Real Estate Management". These companies can do background checks, collect payment (current and delinquent), hire maintenance staff, provide 24 hour emergency maintenance service for your tennants, some even will Escrow taxes for you. Though they are generally more expensive than simply hiring a repairman, they can do a lot of legwork for you that most people don't have time for. I highly suggest it for the first-time landlord. Once you get your feet wet and figure out the process you'll be better apt at handling everything on your own.
- Dally Castillo, "cpmrealtypr.com"
- Contributions:13
You want to make sure that your tenant qualifies. You want to cover your mortgage and expenses, however keep in mind that in today's market you may have to dish some monies out of your pocket. Real Estate is a good invesment and your monies grow on the resale: but you need to do your homework in order to purchase right.
Pick up and read a rental agreement for your community. These are the basic rules for the tenant. The tenant can cover some of the expenses in the property up to a certain amount of dollars per item or occurance, owner will cover all structural and non incidental repairs. It's a job, but can be profitable and fun. Best to you!
Pick up and read a rental agreement for your community. These are the basic rules for the tenant. The tenant can cover some of the expenses in the property up to a certain amount of dollars per item or occurance, owner will cover all structural and non incidental repairs. It's a job, but can be profitable and fun. Best to you!
- OC Condo Queen
- Contributions:3
you also really need to run the numbers and expect mistakes and make a budget for bad tenants. It is easy to lose on tenant. Try to keep your tenant turnover down.
- Danielle Ervin, "danieh24"
- Contributions:1
You need to check you state landlord/tenant laws. Usually they put out a publication. I believe California's can be found at; www.dca.ca.gov
- Carole Tyne, "Carole Tyne"
- Contributions:190
Depends on the state.
what are the legalities of rental properties as a landlord?
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