Use this firsttuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a list of all our FARM letter templates, visit our FARM Letter page.
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First-time landlord tips
Thinking about renting out your home? To be a successful rental operator, you need to:
- Study landlord-tenant rules. Read up on California’s fair housing and landlord-tenant rules and stay informed about recent landlord legislation to avoid discrimination when choosing tenants and correcting uninhabitable living conditions.
- Screen tenants. Establish your tenant screening as a uniform process for all prospective tenants. Consistently screening all tenants by the same standard avoids unintentional discrimination and helps you spot a prospective tenant who doesn’t reliably pay rent.
- Stay professional. Keep personal relationships out of any interactions with tenants. Becoming too friendly with your tenants makes managing your landlord rights and obligations difficult.
- Select a property management strategy. Do you hire a property manager to make being a landlord easier? Or do you manage the property yourself to reduce costs? Weigh the benefits and disadvantages with your strengths and experiences owning and leasing.
Please contact me for a discussion about first-time landlord resources and for all your real estate needs!
