What can a security deposit be used for (in California)? - 05/31/08 04:17 PM
Landlords seem to have on ongoing bad reputation for not returning enough of the security deposit when a tenant vacates. Too often the Landlord expects perfection from the tenant upon returning posession back to the Landlord.
Here is what can be deducted legally from the security deposit:
1. Unpaid rent.
2. … (4 comments)
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What part of a security deposit can be non refundable in California? - 05/30/08 11:25 PM
In California there is no such thing as a non refundable security deposit. The purpose of a security deposit is to enforce some action, and all of it must be refundable. Anything else is rent.
Be very careful not to automatically charge for things like a flea spray if the … (2 comments)
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Sex Offender Notice Required in California Rental Agreements - 05/28/08 10:25 PM
This is the language that needs to be in your California rental agreement:
Registered Sex Offender Notice: Pursuant to Section 290.46 of the Penal Code, information about specified registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at www.meganslaw.ca.gov … (10 comments)
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What Happens if Your Tenant Burns the Place Down? - 05/25/08 01:23 AM
My family had finished Thanksgiving dinner several years ago and after the relatives had gone home I sat down to watch the 11 o'clock news. The lead story was about a house fire. One of my tenants had burned the place they rented from me down! The tenant's son was … (8 comments)
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No Smoking In My Rental Unit - 05/23/08 01:02 AM
Many rental property owners do not want to rent to people who smoke. There are good reasons for this, like the walls and carpet get smelly and discolored. But is it legal to do this?
I think it would be hard to justify telling a potential tenant what they can and cannot do. How can … (5 comments)
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How Much Should The Late Fee Be on Your Rental Agreement? - 05/22/08 12:56 AM
What is a proper and legal amount to charge a tenant when the rent is not paid as agreed?
Many landlords and property managers employ late fees to penalize their tenant for the added risk of a late payment. Some charge a flat fee and some a percentage of the … (14 comments)
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When is the Rent Due and When is the Rent Late? - 05/21/08 01:04 AM
When starting a tenancy a landlord has to figure out when rent is due and when it is late. It makes sense to have all rents due on the first of each month no matter what day the tenant took possession and no matter when the lease ends. This is … (2 comments)
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It's 100 Degrees, Should I Put Central Air in My Rental Unit? - 05/18/08 04:20 PM
In our area the summers are HOT! So does it make sense to spend money to put in central heat and air conditioning in lower end rental units that do not currently have central air conditioning?
I did the math and came up with this: New central heat and air, … (11 comments)
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Do Not Allow Tenants To Do Repairs At Your Property - 05/17/08 01:34 AM
Do not allow tenants to perform repairs and all requests for repairs should be in writing. Your lease should prohibit the resident from performing repairs on the property. The resident is not likely to be a repair expert, so you will probably be disappointed in their workmanship. Even if they … (18 comments)
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Why Should I Inspect My Rental Property? - 05/15/08 03:46 PM
An annual inspection will protect you and your resident from safety and financial liabilities. Since some residents remove smoke alarm batteries, this is a chance to verify that the alarm(s) is both working properly and that it is placed in the proper location(s). Also, many residents do not faithfully change … (7 comments)
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Banks Slow Play REO's - 05/15/08 01:04 AM
When a poker player has good cards, sometimes they slow play the hand by not betting much in the hopes of attracting more players to stay in the game. They hope the other players will put more money in than if they player with the good hand bet big early. … (6 comments)
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West Nile Virus and Sacramento and Yolo Counties Part 2 - 05/13/08 11:54 PM
Sacramento-Yolo Mosquito and Vector Control District
Of special concern for the District are the high numbers of foreclosed homes in the area that have abandoned swimming pools. For the past few months, the District has been working closely with various city and county agencies to obtain lists of foreclosed … (1 comments)
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West Nile Virus and Sacramento and Yolo Counties - 05/12/08 01:08 AM
Be aware that those of us living in Sacramento and Yolo Counties (and some other counties in California) are at risk.
Sacramento and Yolo County residents are in a West Nile virus high risk area, and are being urged to take precautions against mosquito bites.
Practice the District's 7Ds:
DRAIN … (2 comments)
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Typical Costs of Rental House Ownership - 05/12/08 12:53 AM
If you are considering getting into or are new to the rental business you need to know what the expected costs of ownership are. Here are some items for you to consider:
Utilities: Find out which ones the tenants pays and which ones the owner pays. It varies … (6 comments)
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Does a Higher Rent Mean I Will Attract a Better Tenant? - 05/11/08 01:28 AM
This is a belief of many newbie rental property owners. I think it is myth that many owners want to believe because if true, it also has the benefit of making the owner more money (on the back of the tenant) and it makes them look smart and savvy. Too many owners … (12 comments)
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Shouldn't the rent cover the mortgage? - 05/11/08 01:09 AM
Many property owners that have just purchased their first rental think that the rent should cover the mortgage payment. Those of us in the property management business know that this is just not true.
If it was true, would a landlord that paid all cash and had no mortgage … (8 comments)
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My Scariest Day in Real Estate - 05/07/08 11:51 PM
I pulled up to a vacant house I was renting one afternoon a few years ago. I opened the lockbox, took out the key and opened the door. My appointment had not yet shown up so I thought I would open up some of the drapes.
I walked into the … (37 comments)
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The Reluctant Landlord - 05/07/08 12:11 PM
The current market is creating a large class of landlords known as Reluctant Landlords. These are landlords that would prefer to sell their property, but due to market conditions, cannot. Most live in their property and must move due to a job transfer. The tax laws allow them to rent … (8 comments)
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Can a tenant get my phone number and address if I use a property manager? - 05/07/08 12:09 AM
A good property management company is trained to protect the owner's confidentiality. The property management company should not release any information about the owner to anyone without the owner's approval.
But, be aware that anyone can access county tax records. If the home address is on the tax roles for the rental property they own, they may … (8 comments)
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How Does a Foreclosure Affect the Tenant (in California) - 05/06/08 02:13 PM
With the large numbers of investors losing their rentals to foreclosure, it is no wonder that lots of tenants have questions about the process. Here is some information on the subject, but be aware that HomePointe is not an attorney and you should seek legal counsel before acting on any of … (7 comments)
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Rental Housing Inspection Program City of Sacramento Property Management Executives ONLY - 05/06/08 10:14 AM
… (0 comments)
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Sacramento Rental Market May 2008 - 05/05/08 01:33 AM
The rental market is continuing down the middle path as it has done for the past six months. While there is plenty of demand for rentals in the Sacramento Region, there are still plenty of houses to rent.
But, you say, the sales market is pretty bad, this should improve the rental … (0 comments)
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You Be The Judge - 05/05/08 12:58 AM
The Case: A tenant has leased a house and is responsible for doing the yard work.
While mowing the yard, the mower kicks up a rock and breaks the glass in the glass patio slider door.
It is a $450.00 repair. The tenant wants the owner to pay, the owner wants … (19 comments)
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What liabilities does a landlord have and how can the landlord protect themself? - 05/04/08 01:03 AM
As the owner of a rental property you could be held liable for known and unknown conditions at the property. In most cases your fire/liability insurance policy will cover you adequately. You should discuss with your insurance company the amount of recommended limits for your situation.
If you use a professional property … (10 comments)
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What do landlords do with the tenant security depost during the tenancy? - 05/04/08 12:44 AM
Once a deposit is collected from a tenant, the owner or property management company has the funds to hold. In California, the landlord has complete use of the funds, including spending the funds.
There are two options really in terms of what do to with the security deposit. If … (9 comments)
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Who pays for repairs after a resident moves out of a rental property? - 05/01/08 11:26 PM
After the move-out inspection, the owner/manager must determine who is responsible to pay the bills to bring the property back to the condition it was in prior the resident moving in. In California you are allowed by law to charge the resident's deposit for rent, damages above normal wear and tear, and cleaning. You should charge the … (10 comments)
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