Now that you have a piece of investment property, there are rules and regulations you need to know as a homeowner. Today, we are talking about your landlord responsibilities.
Homeowner Responsibilities: Expectations
Talk to the tenants so they understand your expectations for the property. You’ll need to tell them when rent is due, and where they should send their rent payments. Discuss who they should call if there’s an emergency after hours. You need your tenants to have all of this information. If there’s a maintenance problem or something breaks and there’s a plumbing issue or a leak overnight, the tenants will need to call someone during those hours.
Responding to Maintenance
Answer all maintenance requests in a timely manner. There are consequences for not responding to those repair issues, especially if they involve a safety or health issue. If your tenant calls to report that a stove is not working, you’ll have to worry about gas leaks. So, it’s important to ensure you answer these maintenance requests right away.
Understanding the Laws
Make sure you know the laws. You’ll need to be familiar with all the types of documents you need to have for the tenants when they sign the lease. Go over the condition of the property with them when they move in. In the state of California, a tenant can deduct the cost of any repairs they had to pay for themselves from their rent. They are permitted to do this twice a year, and you don’t want tenants making repairs to your investment property. You want to do it yourself, or outsource the work to a vendor who you know will complete the work correctly.
These are some of your most important responsibilities as a landlord. If you have any questions about landlord obligations or anything pertaining to Merced property management, please contact us at New Bridge Management.