Q: I have several applicants applying for my rental. Do I have to screen everyone the same or can I screen only for credit on some and require a criminal background check on others?
The IRS has just given apartment owners several reasons to contact their accountants. On September 19, 2013, the Internal Revenue Service issued new final Tangible Property Regulations which went into effect for tax years beginning
DetailsIf you own rental property in California, you need to comply with special rules and procedures for vacating tenants. California landlords must provide their tenants with written notice that they’re entitled to request and be present for an initial pre-move inspection. A vacating tenant can decline, but if he accepts that the rental property owner…
DetailsDURING THE APPLICATION PROCESS Give Applicant a Screening Fee Receipt When you accept a screening fee from a prospective tenant, you must provide them with a receipt for those monies. You may either
DetailsThe jobs report for March was initially hailed as good news because the Bureau of Labor Statistics reported that 192,000 new non-farm jobs were added last month. That was better than expected by many forecasters and was well above the
A homestead is the family residence, which in most states is exempt to a certain extent from forced sale for collection of debt. In California, there are at least three kinds of homestead exemption: (1) Declared homestead (2) Automatic homestead exemption and (3) Property tax homestead exemption Declared Homestead The first way in which California…
DetailsAlthough the proper tenant screening and selection techniques greatly improve your success in picking good tenants, they aren’t a guarantee, which mean that at some point in your rental property management tenure, you’re sure to
Question 1: I rented a two bedroom Berkeley unit to three students and collected $3,000.00 for first month’s rent. The rent receipt, which we both signed, states the basics of the lease: monthly rent, occupants, term of lease and start date. It also
Let’s say you are a real estate owner/investor and have hired a property management company to manage your apartment buildings. You sign a management contract and the company opens a regular business checking account with their bank. They begin managing your property and collecting rents and paying your bills. However, did you know
DetailsQuestion One: I paid a real estate broker to fill my vacancy. The tenant gave a deposit of $1,090.00 but the broker never got a signed lease. I paid the real estate broker his commission and then the tenant changed his mind and asked for his deposit back. When I told the real estate broker,…
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