Sherman Oaks Property Management
San Fernando Valley Property Management
Northridge Property Management
It may not always make sense to sell your home. If that’s the case, renting it could be a good option. But understanding the rental process and using expert help will alleviate extra stress.
Author of The Accidental Landlord, Dr. Danielle Babb, purports three tips for homeowners who are considering renting their home.
In order to consider renting you must emotionally disconnect from your home. This can be a very difficult thing to do — especially if you’ve lived in the house for a long period of time and your kids have grown up in it — but it’s an important step.
Dr. Babb writes that “It can cause some emotional distress and you may find yourself too attached for the new tenants liking and their privacy rights. When you make the decision to rent out your home, it needs to feel similar to how it would if you were selling it to someone else,”
Second, Screen Your Tenants. Understand how to do a thorough background check and credit check. Don’t neglect this process just because you think you’re a good judge of character! Don’t fast forward to thinking about having wonderful tenants in your home so much that you skip over the screening process. Attending to this process alone, can eliminate huge headaches in the future.
Babb cautions landlords about scams aimed at landlords who don’t screen: “There are actually ‘professional tenants’out there that do nothing but find susceptible landlords, usually those renting without a management company, that don’t screen tenants. They will give a deposit, and live rent free (not paying rent), knowing you won’t know what to do or how to kick them out”
Know the law. There are specific laws to protect the tenant. How much the tenant is protected differs greatly from state to state. “The laws you must abide by are the laws the home is in. You have to tailor your lease or rental agreement to that state’s rules. You can easily find these on the Landlord Protection Agency site and then modify the lease agreement accordingly,” says Babb.
If you would like professional advice or care in renting your home please don’t hesitate to call us.
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 serve your area.