Landlords, Tenants and Property Management

Form-of-the-Week: Option and Exercise of Option to Renew/Extend a Lease — Forms 565 and 566

by Amy Platero | Jul 24, 2023

A landlord uses RPI Form 565 to extend or renew a lease and a tenant uses RPI Form 566 to request the lease extension or renewal.

Manager’s Trust Account Supervision and Accounting

by ft Editorial Staff | Jul 17, 2023

Covers: The property manager’s ongoing duty to account to the landlord and maintain accurate records of all deposits, receipts, disbursements and expenditures; Contents of the property manager’s statement of accounting to the landlord; Discrepancies in trust fund accounting resolved against the property manager and in favor of the landlord.

Reserves and Deposits in the Trust Account

by ft Editorial Staff | Jul 10, 2023

Covers: A property manager’s proper handling of a trust account to accommodate the flow of property income and expenditures; Start-up fees, cash reserves, security deposits and rents held in a trust fund.

Attorney General fines landlords for TPA violations

by Carrie B. Reyes | Jul 7, 2023

California’s Attorney General is meeting resistance from landlords reluctant to follow — or simply unaware of — the rules.

Goodwill is Value Maintained or Lost

by ft Editorial Staff | Jun 30, 2023

Covers: A property manager’s actions to increase the intangible image – goodwill – of a property; Promptly completing necessary repairs and correctly maintaining a property.

DRE Hot Seat: Property manager conceals records from owner

by Amy Platero | Jun 30, 2023

This article is part of an ongoing series covering violations of real estate law. Here, a broker acting as a property manager surrendered his license in connection with a disciplinary action taken by the Department of Real Estate (DRE) for concealing property management books and records from a client they represented.

Periodic Review of Leases and Property Maintenance

by ft Editorial Staff | Jun 26, 2023

Covers: A property manager’s comprehensive review of all lease and rental agreements on entering into a property management agreement; Periodic evaluations of lease and rental agreements to minimize expenses and maximize rental income; Determining and contracting for necessary property repairs and replacements.

Property Inspections by the Manager

by ft Editorial Staff | Jun 19, 2023

Covers: A property manager’s well-documented property inspections to determine the physical condition of the property, availability of habitable units and the use of the leased premises by existing tenants; Critical moments when a manager inspects a property.

Critical Curb Appeal and Title Analysis

by ft Editorial Staff | Jun 9, 2023

Covers: A property manager’s analysis of the repairs, maintenance, landscaping and improvements needed to increase the property’s curb appeal; Running a cursory title check on the property to be managed, and clearing any deficiencies with the landlord prior to taking over management of the property.