Buying A Home
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Landlord Question

Are there any websites you reccomend that can get you everything you need to be a landlord? This would be our first time finding a renter, screening, creating contracts. etc. Any help would be greatly appreciated!

 

Re: Landlord Question

  • Do a google search for apartment associations in your area. We have one in our state (California Apartment Association) that is fantastic. Don't be thrown off by the word apartment, they serve all landlords. They provide legal updates, credit reports, contracts & disclosures, vendor referrals and so much more.

    I highly recommend that you join some association or similar type group. There are always changes to local rental laws and it is essential that you stay up to date. Also, make sure you are using a good, well written contract and local disclosures. You can get yourself into some very difficult places if you do not have a good contract and do not meet all the disclosure requirements. Most associations also offer education and seminars that will be very helpful in managing your property and staying current with trends, laws, etc.

    Also, Nolo Press has some fantastic books and resources that I find to be high quality. I have my own forms (I'm a Realtor) and am often skeptical of the forms you can buy at the local office supply store but I think Nolo gives good advice for both landlords and tenants.

    Also, check with your local city/county re: the rental ordinaces governing your area.

    All that being said, go for it! It is a great asset to have and can offer you so many options in the future (and income!).

    Good luck!

    Life is a roller coaster, enjoy it!

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    Lighthouse State Beach, Santa Cruz.

  • We use MrLandlord.com to run a check of credit, etc for our tennants. We pay $9.95 for each 'run'.

    We use the exact same screening process for every single person that applies. We put together a lease from finding others online and having a final review done by an attorney. We created a spreadsheet that logs in the data and provides us a score for the renter. If it is close to being disqualified, we'll ask for a co-signer. For their credit score, they get x points, for being on time to the showing they get x points, etc.

    Screening is not easy, let me tell you! We use Google, Facebook, Myspace, google images, our state's crimal page and sex offender's site. Those can all be done for free. One potential renter said he never smoked but yet his FB photos showed him smoking in almost every one! Also, check their car when you walk by it - is it a disaster inside or spotless? If they treat their car that they own like a dump, just how well will they treat a place they rent??

    We generally adverstise our rentals on Craigslist.

    Hope this helps to get you started!!

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