What are the basics of Property Management?

Getting The Property Ready For A Tenant & Property Documentation

• Complete all maintenance before listing the property

• Conduct a thorough move in inspection

• Pictures, video & written report

Legally Complaint Marketing & Tenant Selection

• Market the property with quality photos, video, appropriate language and pricing

• Create a legally compliant rental application & process

The Importance Of A Written Lease Agreement

• The rental agreement should cover all the rules for the property

• In the current market, Rentor typically recommends month to month agreements   

• There are legally required disclosures and addendums

• The best place to find a complete list is various online websites

• AB1482/ Rent Cap Just Cause is the most recent legislation governing rental properties.  

• The main points are that it sets a maximum yearly rental increase for multi-unit properties at 5% plus inflation and has strict requirements for when a tenant can be given notice to move out of a multi-unit property.

Managing The Landlord Tenant Relationship

• All terms of the rental agreement must be enforced at all times with written documentation to the Tenant

• The most common violations are:

• Non Payment/ Late Payment of Rent

• Allowing someone to move in without prior written approval

• Getting a pet without prior written approval

• Interior or exterior of the property is not being maintained

• Noise/neighbor complaints/feuds

• Important Forms:

• 3 Day Notice To Pay Rent or Quit

• 3 Day Notice To Cure Covenant or Quit

• 24 Hour Notice To Enter

Handling Maintenance

• In order to protect/maintain/maximize your investment, the investment must be maintained.  

• This is a cooperative endeavor between the landlord and the Tenant.  

• The Tenant is responsible for reporting items to the landlord, particularly on the interior.  The Landlord is responsible for doing his/her due diligence as well.  

• Who is the tenant going to call & who is going to do the work?

• Landlord?

• 3rd Party?

• Contractor or handyman?

• Conduct a Landlord yearly inspection with or without the tenant present to check for:

• Maintenance needed

• Whether or not the Tenant appears to be 

adequately caring for the property

How To Close Out A Tenancy

• Offer & conduct a pre-move out inspection

• Must be performed within 2 weeks of the Tenant vacating

• Perform a detailed move out inspection that includes:

• Pictures of all Tenant-related items that need to be remedied

• Video of the overall condition of the property, narrating Tenant items to be remedied

• Written documentation of all Tenant items that need to be remedied

• Complete all maintenance items that a Tenant is responsible for within 21 days of move out.  

• A Tenant can only be charged for repairs in compliance with useful life guidelines

• Useful life of carpet is 10 years

• Useful life of vinyl is 15-20 years

• Useful life of paint is typically 5 years

• Send the Tenant an itemized statement of any security deposit withholdings within 21 days of the Tenant vacating

• If the Tenant disputes any of the charges:

• Instruct the tenant to detail in writing the items they don’t agree with & why

• Instruct the Tenant to associate a specific monetary refund request for each item they do not agree with.