Today we’re talking about how to be a good landlord and what you should be doing when you have tenants living in your rental properties.
One of the things a great landlord does is to have great response times to the tenants’ concerns. If you get a phone call, get back to them in a timely matter. Don’t let it go further than later that day or early the next day. Maintenance situations need to get resolved immediately. That’s not only important to tenants – it’s important to you and your property as well.
Security Deposit Funds
Another good thing to do is to take care of the security deposit properly. You can put it in the bank and allow it to collect interest. But you cannot collect any interest yourself or keep those funds. Any and all of the interest earned has to be returned to the tenant.
Tenant privacy is something else good landlords are concerned with. Once a tenant signs a lease and moves in, you are not allowed to go into the property any time you choose to. You’d need to give them a written notice in advance of you arriving at the property. It’s a state law.
You must stay current on the laws and things that are happening if you want to be a good landlord. There are many regulations in the state of California, and they change frequently.
A good landlord has a comprehensive lease agreement. This is important because it has to include what each party is responsible for, and it must be understood by the tenant. Make sure it abides by the rules and regulations of California and keep it clear and concise.
If you have any other questions, please contact us at Action 1 Properties, and we’d be happy to help you.