Are you interested in managing your own rentals? Is the prospect of hiring a property manager has you spooked? Well, before you embark on do-it-yourself property management it’s helpful to recognize that developing and negotiating rental agreements are not for the faint of heart. Blow is a great tenant screening solution from a Google funded company called Cozy that will allow you to screen tenants.
But before you start celebrating, there is a lot more to do. In fact, the California Associations of Realtor’s Lease Contract has more than 46 legal clauses that cover everything that range from possession all the way to mediation. Below is a sample list of the legal clauses that are covered in a typical rental agreement.
- Security Deposit
- Late Charge
- Parking, Storage
- Condition of Premises
- Neighborhood Condition
- Megan’s Law Disclosures
- Rules and Regulations
- Alteration and Repairs
- Assignment and Subletting
- Joint and Individual Obligations
- Lead-Based Paint
- Military Ordinance Disclosure
- Periodic Pest Control
- Methamphetamine Contamination
- Tenant Obligation upon vacating premises
- Breach of Contract
- Temporary Relocation
- Damage to Premises
In fact, we are considering a service by Cozy just to avoid the headache of managing applications and rent collection. With Cozy (a Google company), tenant screening is done online using their service and therefore no private information is supplied to our company. Another benefit of using Cozy is that tenants can make their payments online by adding their checking or savings account. Payments are processed using clearing house which is secure and fast.
There are some cloud based Contract providers such as Rocket Lawyer, but not all of these contracts are not legal and accepted in California. So, you might be taking a risk if you are managing your own rentals with a contract from your local stationary store.
Contact Us if you have any questions about your lease agreements.