Biggest things to look out for when kicking off first rental

[Luis Ceja]

I’m currently turning my primary into a rental. I have no experience with this and it’s a little nerve wracking because I live in California and I’m afraid of picking the wrong tenant or having a flaw in the lease agreement. Any tips?

[Nathan Gesner]

Quote from @Luis Ceja:

I’m currently turning my primary into a rental. I have no experience with this and it’s a little nerve wracking because I live in California and I’m afraid of picking the wrong tenant or having a flaw in the lease agreement. Any tips?

You are in one of the most regulated, most litigious parts of the world. I would hire a PM and let them run with it.

If you insist on doing this yourself, join the California Apartment Association for forms, education, and assistance. I also recommend "Every Landlord's Legal Guide - California Edition" for practical advice, sample forms, and links to your laws.

FYI: I manage a couple dozen rentals owned by several Landlords that invested in California for decades. They sold every property they owned and moved their money out of the state. Take from that what you will.