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When it comes to renting out your home, it all seems easier said than done. JLA Real Estate Group’s Property Management Division consults with potential clients on renting their homes, we often see common mistakes that could have potentially gotten them in big trouble. In the long run professional property management saves you money because there are so many legal pitfalls that owners don’t know about.
TENANT SCREENING. Pay the money and run a credit check make sure to look for evictions, late fees and delinquent accounts. Evictions and more than 3 delinquent accounts can be used to not approve a potential renter. Renting to friends and family aren’t always the best idea either, emotions can run high when it comes to late payments or missed rent.
DISCRIMINATION. Sometimes you may not even realize you’re doing it. The California Department of Consumer Affairs clearly outlines all forms of discrimination (www.dca.ca.gov), these laws have created certain “protected classes” that you, as a landlord, must not refuse to rent, sell, steer, advertise, or charge extra fees for including but not limited to: race, color, national origin, religion, familial status (meaning someone with kids!), and disability.
PROPERTY MAINTENANCE. Fully assess your property before you rent it to document any maintenance issues that may come due within the next year. You can also hire a free lance inspector that will give you a report of any major issues not visible to the eye (termites, mold, and foundation issues). If your tenant brings maintenance issues to your attention, addressing non-life threatening issues within thirty (30) days will help prevent future claims.
EVICTIONS. Again the Department of Consumer Affairs is very strict on proper eviction proceedings, following their “how-to guide” can save you thousands of dollars and a big headache should you take it upon yourself evict your tenant. While renters do have rights in California, Landlords have the right to protect their investment.
Here at JLA Real Estate Group we help you cover all the bases when renting out your home and most importantly we are licensed to do so.
If you would like a copy of our Property Management Diagnostic which will help you understand how to manage your property please contact us at firstname.lastname@example.org.