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4 effective tips for new landlords

A number of people enter the property management business but soon find it extremely difficult to manage it and make more money than they are spending. Most new landlords make the big mistake of using their first impression for determining whether to accept a potential application of not. Although experience helps, which new landlords lack, but there are also some other things that can be used for determining whether to accept or reject an application. So here are 4 tips for new landlords to help them avoid tenant problems in their properties.

Tip # 1

The first tip is that you should make every prospective tenant fill out a rental application which would include their present and previous landlords contact information. If the prospective renter is a problem, there is a big possibility that the present landlord or property manager will not tell you the truth in order to get rid of them. Therefore, it is important that you contact at least their previous 2 landlords to get accurate and quality feedback regarding then. The application must also include their work information including the name and contact information of their employer/property manager. Contact them for verifying if the prospect actually works there and the income reported in the application is accurately listed.

Tip # 2

Get a copy of their driver’s license as a proof of identification. This will prove their name and other information. Problematic prospects are more likely to rent the house in someone else name by using wrong information is the application. This may include using the name of their best friend who might have a positive feedback from his previous landlords for taking advantage of their name. With a copy of the driver’s license, you will be able to confirm if the license is of the person in front of you. Don’t rent out your home to someone who refuses to provide you with a proof of identification.

Tip # 3

Perform a credit check on every applicant and you should provide this on your application form that you will be performing a credit check and therefore, the prospects will have to sign off the request. The application must also request them to list their social security number to aid you in running a credit check. Normally, one of biggest problems faced by new owners is the failure to get paid their rent and therefore, it is imperative to perform a credit check on each and every applicant.

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.

• Tenant placement
• Tenant screening (including: credit check, landlord and employment verification, social security trace report, California eviction check and criminal check)
• Regular property inspections
• Accounting and landlord bill payment
• Monthly financial reporting
• Maintenance service and supervision (we use only proven independent vendors)
• Collections
• Evictions
• We supply all the necessary forms to meet California’s Landlord/Tenant laws
• 24 hour emergency phone service
• Advertising to the broadest tenant base possible

Call or e-mail us today for more information. We’re ready to get started!

Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.