Hi everyone! Just bought a home in Southern California that is actually 2 properties. Front unit is 3bed/2bath, back unit is 2bed/1bath. I intend on renting out the back unit, and after some renovating expect I can make at least $2200/mo from it. Now that the excitement is wearing off I’m getting stressed about wanting to do this right. Here’s what I have so far:
- Post listing online
- Ask interested people for an application and run a background check. What website do I use for this? Anything specific I should look for in a report?
- Do a pre-move in inspection with the tenants. Is there an official source for this form or should I create one?
- Tenants need to sign a lease. Where do I get an up to date lease that follows all California law?
And do you guys have any other tips? Any and all info is appreciated! Thank you :)
Edit: A big worry of mine is a tenant who stops paying rent/finds some legal loophole way around it since California is very pro renter. I really need the rental income to live comfortably. Idk if there’s a trick anyone knows to get around this. Looking for someone with a really high credit score? Requiring first & last months rent before move in?
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/xs4qs6/first_time_landlord_need_advice/
Comments
Post a Comment