Profile picture for popesjet

what are the legalities of rental properties as a landlord?

I am a new home owner. I want to invest in more property as rentals in the near future. What do I need to know?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 17 2008 - Westminster
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (5)

Profile picture for NoviceLandlord
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.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 18 2008
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!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 18 2008
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. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 17 2008
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
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 17 2008
Depends on the state. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 17 2008
 
Related Questions
Is this a market where I can keep my current home, rent it and buy another home. I'm in Colorado
Profile picture for Colleen Mullins
Latest answer by Colleen Mullins
January 23 2009 | 5 answers
  • Asked by melimel70
  • In Investing
  • January 20 2009
what are the legalities of rental properties as a landlord?
Profile picture for NoviceLandlord
Latest answer by NoviceLandlord
December 18 2008 | 5 answers
  • Asked by popesjet
  • In Investing
  • December 17 2008
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 1127 W 98th Ave, Northglenn, CO Home For Sale
    1127 W 98th Ave, Northglenn, CO 80260

     For Sale: $164,900

    • Beds: 3
    • Sqft: 1700
    • Baths: 2.0
    • Lot: 16988
  2. 2939 Spring Harbor Way, Broomfield, CO Home For Sale
    2939 Spring Harbor Way, Broomfield, CO 80023

     For Sale: $469,900

    • Beds: 3
    • Sqft: 3864
    • Baths: 2.5
    • Lot: 9147
  3. 7251 Vrain St, Westminster, CO Home For Sale
    7251 Vrain St, Westminster, CO 80030

     For Sale: $205,000

    • Beds: 4
    • Sqft: 1748
    • Baths: 2.0
    • Lot: 6534