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7 Tips For How to Manage Your Own Rental Property in 2021

7 Tips For How to Manage Your Own Rental Property in 2021

Apr 30, 2021 | ,

Investing in and managing your own rental properties in Southern California is admittedly an incredibly challenging process. However, being a rental property owner can be quite rewarding when done strategically. Specifically, if you chose to manage your own investment property in lieu of hiring a professional property management company, you will have to wear multiple hats and take on various roles. Below we will discuss the top things you need to know about managing your own multifamily rental property in 2021.

Protecting Your Property: Why Proof of Income is Crucial for Landlords

Protecting Your Property: Why Proof of Income is Crucial for Landlords

Apr 12, 2021 | ,

A simple and effective way to avoid future headaches is to require proof of income from potential tenants. In order to determine if a potential tenant is going to become a liability or an asset you’ll need to find out some information about them. All financial factors should be considered and analyzed. For example, you’ll want to know how much does the person make? How much can they actually afford? Most importantly, can you verify his or her claims?

What To Do When Your Tenant Damages Your Property

What To Do When Your Tenant Damages Your Property

Apr 5, 2021 |

Damage to a rental property can be a huge headache for a landlord. This is not only because it can compromise the profitability of your investment, but because it can also result in further damage to the home. Tenant damage can also lead to disputes and disagreements between owners and tenants.

What You Need to Know About Accessory Dwelling Units In California

What You Need to Know About Accessory Dwelling Units In California

Mar 22, 2021 | , ,

Known by various names such as granny flats, backyard cottages, in-law units, secondary units, guest houses, and so forth, an accessory dwelling unit is essentially a second dwelling on the same grounds as the main home. In California, it can be attached or detached. It can also be in the form of an apartment located on top of the garage, a smaller second home in the backyard of a home, or a small basement apartment.

How to Finance an Investment Property with Leverage

How to Finance an Investment Property with Leverage

Mar 1, 2021 | ,

The real estate market is one of the most rewarding industries a person can get involved in. It is one of the few investments that a person can actually use someone else’s money, to make money for themselves. To maximize the investment and make it work for your demands knowing how to effectively leverage money. Leverage is one of the most critical factors in having a successful real estate investing experience.

Eight Tips for Investing in Real Estate in Orange County

Eight Tips for Investing in Real Estate in Orange County

Feb 24, 2021 | ,

Did you know that the median price of a home in 16 zip codes in Orange County has surpassed the million-dollar mark? In other words, prices have pretty much doubled in the last ten years! Imagine how you would feel if you had doubled your money in just a decade? Basically, a steady 10 percent raise every single year. Not to mention the rental income and tax deductions you’d likely benefit from throughout those same 10 years. You are probably looking at these figures and thinking, “OK, I am ready to dive in.” We have some tips to keep in mind when you are looking into OC real estate investing.

The Laws and Regulations Regarding Pulling and Using Credit and Consumer Reports for Selecting Tenants

The Laws and Regulations Regarding Pulling and Using Credit and Consumer Reports for Selecting Tenants

Jan 22, 2021 |

Most, if not all, property managers and landlords in Southern California will conduct a background check on prospective tenants. This background check usually includes the landlord ordering a credit check and/or a consumer report. When conducting background and credit report checks, owners, landlords, and property managers must remember to comply with both Federal and California Fair Housing Laws. Additionally, they must also comply with the Federal Equal Credit Opportunity Act and the Fair Credit Reporting Act (FCRA), which may be applicable whenever a landlord or property manager orders a consumer report on a tenant.

The Pros and Cons of Buying and Using a Home Warranty

The Pros and Cons of Buying and Using a Home Warranty

Dec 17, 2020 |

If you own a home in Southern California you must ensure the care, maintenance, and upkeep of the home is a priority if you wish to maintain your property’s value. One way homeowners can keep their appliances and major systems in optimal condition is by investing in a home warranty policy.

AB 3088: California’s COVID-19 Tenant Relief Act of 2020

AB 3088: California’s COVID-19 Tenant Relief Act of 2020

Dec 16, 2020 | , ,

In response to this brewing housing crisis, Governor Newsom enacted AB 3088, commonly referred to as the COVID-19 Tenant Relief Act of 2020, to offer substantial new protections to all California residents, from eviction, provided that they qualify. In sum and substance, the bill prevents the eviction of tenants who are facing financial hardship due to COVID-19.