Your search results

Property Management – Tarzana – Property Management Companies and Lease Agreements

TARZANA PROPERTY MANAGEMENT

Property Management Companies & Lease Agreements

If you are just getting into the real estate field as a property owner you are going to need to know the importance of retaining a good property management company. If you are one of the many property owners who have been in this field for quite some time, you know how the real estate landscape can change from time to time. In either case, property owners need to be kept current on the legal importance of lease agreements. Any property management group will tell you that lease agreements are the backbone of owning real estate as they can make or break you from a legal standpoint. This is especially true when the number of properties you own increase.The number of properties you own should come into play when determining how thorough your lease agreement should be. Don’t confuse this with the fact that the same legal aspects should be covered regardless of how long the contract is.The most basic of these aspects, or terms, will be the names of every adult that will be living in the rental unit. The main reason for this is so if there is more than one adult in the household, the others can also be held legally accountable for any monies owed if the contract is broken. The length of the lease agreement should also be specified for the purpose of determining how long the tenant(s) is legally obligated to pay rent. These terms can range from six months to 5 years at the discretion of the owner.Every property management company in business today should know these basics and more. They should also tell you of the different methods there are available of paying rent for your tenants. Some of these methods include cash, money order, check, debit and credit cards. Most property management companies today though seldom take cash as payment as it is more difficult and time consuming to trace back the person or people who gave a cash payment should any legal issues arise. For this reason alone you should take care that of all the property management companies that are out there, you choose one that will know how to specify this on a contract.Property owners should also consult property management companies about their expertise in the repair and maintenance aspect of a contract. This is perhaps the main reason why property owners get into legal hot water with their tenants. Part of the wording concerning this should include what you, the property owner, is responsible for concerning the fixing or maintaining of things and to what degree. Keep in mind that virtually every square inch of your property should be covered in this aspect of the contract. From the floor coverings to the ceiling and attic space and all points in between whether they are functioning parts of the rental unit or not. Property management can be a very detailed job depending on what type of units you have and how many you have.For example, the maintenance of a hot water heater should be included in the contract, including the tenants responsibility for contacting the property owner when a problem arises. Also included should be whether an outside party will be performing the maintenance and the length of time needed to notify the tenant when a maintenance person will be coming to the unit to do the repairs. These are all important legal considerations that need to be specified in the contract that property management companies should know about.The management portion of owning property is something that every owner should not take lightly. Your units or houses are places that people call home. They pay you every month for not only a place to live but for a sense of security that comes with having a safe, comfortable and habitable place to live. Their payment of rent should not only cover their place to live but should also cover that sense of security that they “bought”. The management of property is a field of expertise that only those who take the living conditions of tenants and the legal security of owners seriously. When looking for a competent service to do this work for you, you should keep in mind not only the seriousness of your job but of theirs as well. And both of these should be reflected in the lease agreement itself.

Posted in Property Management Direct

Since 1946 the Carnahan name has had a reputation for honest and ethical Real Estate Property Management services in the San Fernando Valley, Santa Clarita Valley, Burbank/Glendale, Los Angeles, Westside and Conejo Valley areas.

The reason for our success is helping owners like you when they need it. Below is a partial list of property management services we provide to help you protect your real estate investment.