Real estate can be a solid investment in many markets—and for the long-term—but there are often many headaches associated with the price of doing business as a landlord, and it is good to understand a variety of landlord tenant guidelines. Whether you are renting out a residential home or building, you will need a tenant. Vetting them begins with the basics, once they have expressed interest in renting the space.
Beginning with a credit and background check, you will be able to get a feel for whether they pay their bills—and whether they are drowning in debt and may have trouble paying the amount of rent being requested. More importantly, have they ever been evicted? The background check allows you a glimpse into their past, hopefully with no restraining orders, felonies, or other issues that could make them a potential risk. You may have met a potential renter (individual or a couple) who fits the bill, signs the lease, and pays what is required up front. It is, of course, impossible to see what will happen in the future with anyone, however—and even though they may have seemed like a great tenant and worked out for quite a while—eventually they may be ready to move on. Hopefully, that event is handled respectfully by all involved, without any back rent due, property damage, evictions, or other legal problems.
Even the best of tenants may leave property behind though. And while disposing of obvious garbage they left behind make take some of your time, it can be thrown out without having to play any sort of waiting game or jumping through legal hoops. In California though, property that has value must be inventoried and then stored safely while you contact the tenant. If this is a substantial amount of property, consult with an experienced real estate attorney like Shane Coons for help in drawing up the proper documents to notify the tenant who has moved out. They should be notified of the following:
- What is in the inventory, with a description
- Information about where they can pick up the items
- How long you will store the items, and what the storage expenses will be
- What will happen to the items if they do not pick them up by the designated date
The letter can be given to the tenant or mailed, and if there is no response after 15-18 days, you can move forward to sell the items at auction. Find out more details about such action by contacting Call Shane Coons now at 949-333-0900 or emailing at Shane.Coons@seclawoffices.com. We will be glad to review your case, answer your questions, and help you move forward with success.