Self-managing a rental property can lead to a variety of issues for inexperienced landlords, especially if they reside in a different state then the rental property.

I'm reaching out to share a cautionary tale based on my recent experience with a fintech bank issue involving Yotta and Synapse.

There are more issues than this, reserves would be another. 

Landlords worry that the security deposits allowed under the bill will not be sufficient to cover these damages.The presence of pets can lead to higher maintenance costs due to wear and tear, noise complaints, and the need for more frequent and thorough cleaning.Financial Implications: The bill prohibits landlords from charging additional rent or security deposits specifically for pets, which landlords argue is necessary to offset the increased risk and maintenance costs associated with allowing pets.Landlords may need to increase their liability insurance coverage to protect against potential issues arising from having pets on the property, which could lead to higher insurance premiums.Key Provisions of AB 2216No Blanket Pet Bans: Landlords can’t have blanket bans on common household pets without valid reasons.No Extra Charges: Landlords can’t charge extra rent or security deposits for pets.Documentation Requirement: Landlords must provide written documentation if they restrict pets for health or safety reasons.Pet Liability Insurance: The bill might require tenants with pets to have pet liability insurance.As always, I’m here to discuss how this might impact us as property managers and landlords.

I'm looking into purchasing either a SFR or 2-3 unit MFR in Tucson, AZ, near the University of Arizona and its major medical center.

Literally.At the market/economic level, this policy is highly problematic in 2 major ways, both of which are inflationary.

Just like you would do with any non-family contractor working for you:- get them to complete Form W9 for you, as you will need their SSNs- have them provide receipts for materials/supplies and keep those receipts- have a written labor agreement (how much and for what) - pay for materials separately from labor- make all payments electronically rather than cash so you can trace them- pay out of your business account, not personal- issue them 1099s next year if you paid them $600 or more for labor (for the whole year, not per job): https://www.biggerpockets.com/forums/51/topics/1167632-expla... 

And of course there is the usury issue to deal with when you go over 10%.Unless you're doing volume, why not just download a note & dot from Fannie/Freddie, it's a .doc file so you can make changes.  

The bigger issue is if you don't have proof of condition at move in.

Technically L&I does not have to issue a new rental license after the 3 year period has lapsed but sometimes it does.