All Forum Posts by: Mike H.

The typical list of documents I forward to tenant at end of lease are:

1) email/documentation of inquiring tenant's new forwarding address

IF forwarding address is received then:

2) Deposit Return letter with

a) photos of damages, dirty areas

b) receipts of repairs and associate services responsible by tenant

c) return deposit check w/ deductions (if applicable)

I always forward tenant an email copy of #2 document and a hardcopy in certify mail. 

@Brian Pleshek How does this work? like a account per property/tenant to receive the rent? what type of account would this be?  don't you need lots of account min. balance to avoid monthly fee? interesting approach and love to know more about your experience.

Does California has a standard lease agreement used by Real Estate Association that you could download a copy for reference? typically these standard lease agreement are design state specific and you could always add additional items in addendum to suite your specific need.

if the lease expires between now and next 3 month, you may be expecting a slower listing on the market.  $45X18 = $810 loss from you to keep them for another 18 month. 

2 actions I would do if I were in your position.

1) Check the rental history of the area in the past 1 year period to understand the rent difference between summer and winter and days on market for a full evaluation of this Market you are about to face.

2) What would be a reasonable rent in the market today? will this $45 deduction hurt you much in cash flow?

3) I would take this opportunity to REdesign the lease and expire the lease in summer time when rental rates are at its peak instead repeating again (12-month lease) in winter time to allow tenants play this game on you in their advance.

After reviewing these, you should have a good idea about the lines and should help you find a direction.

I would keep tenants if they are good and takes care property well.  That's something you can't buy w/ $45 dollars.

Any request after lease is signed (typically my lease is noted clear property is rented AS-IS condition; as how they have seen prior lease is signed) would be at tenant's cost.  No matter how handy the tenants are, they will not be making repair or installation of any sort in the property.  As of shade installation, you can either install it yourself or coordinate a service for installation.  The cost of material and labor will be charge back to tenant in the next month's rent.  Of course I would also include this all in writing and obtain his/her consent prior action.  that way you have documentation of the "agreement" in case they decide not to make the payment in the future. 

My recommendation is to check w/ your competitors to see what material has been used for their restrooms.  Depends on your market and the rental value, this will affect your approach on material selection.  You definitely want to keep a balance, sometimes little extra upfront cost can bring your longer material span and less maintenance later.  if  you are planning to keep this property for long term, may want to think a bit further a head.

Sorry to hear about your loss.  I have been using HomeAdvisor.com to obtain some good reliable services.  The cost varies and just takes time to build up the entire team.  Getta start somewhere right?

I am not sure if online courses are available.  it would depends on your preference and what works for you.  Either way, just need to make time to make things happen.

Personally I don't see issue w/ having a full time trying to obtain a license.  it's all about management of your time and how much you want your plan to happen.

If you foresee this being an option in the future and is serious about it.  I am sure you will find ways to make this work no matter how the circumstances is. Simply because you wanted hard enough to clear the obstacles.

You can do it, if you believe this is IT.  :)

@John David Here is how I interoperate the lease and regulation.

the lease agreement you have w/ the tenant setup a legal binding between the two parties to secure a certain payment (rent) for certain period (lease term).  Technically they are responsible for the total rent in that period of time.  If they break the lease during the term, they are still bind to the lease and if they can't (or won't) pay, landlord (you) have the right to take this to small claim court for max. $5,000. claim on rent loss.  However, in reality, people break lease because they can't afford the payment (no use to sue them for); or certain circumstances came up (relocation; wanting to purchase a new home...etc).  So I typically decide to work with them to come to a win-win situation for both.  For most of time, I do not need to go to court, tenant responsible for certain payment and we all move on.  You have the right to chase after because the law and agreement grants you the "right".  But this does not mean all the time and effort.  Things may get  more complicated down the road when you are dealing w/ another party who is also trying to protect their "right". 

just my two cents.  and always advise keep documentations of the communication record and speak to an atterny if court is the rout.

Good luck!