Paperwork isn’t always fun, but now that technology has enabled us to use online platforms and easily accessible apps, it’s less tedious than it once was. You’ll need to have all the necessary documentation in order to effectively lease, manage, and maintain a Roseville rental home. Not only does it keep you organized and show you where you stand, but it also protects you and your investment.
If you’re ever required to evict a tenant, for example, you’ll need to produce all the accounting that reflects the missing rental payments. You’ll also need your correspondence, including notices and summons.
The right paperwork can also help you during security deposit disputes or conflicts over who should be responsible for maintenance issues.
Good paperwork starts with your rental agreement, which is essential to a positive rental experience.
If you’re not sure how to go about documenting everything and ensuring you have consistent and legally compliant lease agreements in place, take a look at some of the tips and advice we have for you today. Our years of experience as Roseville property managers have allowed us to create systems and processes for everything – including paperwork.
Roseville Rental Agreements
A strong lease is perhaps the most important document you’ll have as a property owner. Your rental agreement will protect your legal rights as well as those of your tenants. It will also protect the condition and functions of your property.
Make sure you’re using the right lease agreement. Otherwise, you could find yourself unable to enforce things like rental payments and move-out requirements.
Make sure you use a lease that’s specific to California. As you probably know, the rental rules and requirements in this state are much stricter than most other states. Your lease needs specific language around rent control, evictions, and security deposits. Downloading a lease template you found on the internet that was created by a real estate attorney in New York or Nevada or Florida will not help you.
Use a lease agreement that’s legally compliant with all of California’s habitability, fair housing, security deposit, and eviction laws. Get your lease agreement from a trusted attorney or a Roseville property management company. Groups like the California Apartment Association can also be helpful.
Mistakes with lease agreements are dangerous. You need the right lease, otherwise, your property is not protected and neither are your rights as a landlord.
The lease should reference everything from:
- Your rent collection policy.
- Whether pets are allowed.
- Who is responsible for landscaping and yard care?
- Whether statewide rent control applies to your property.
- Lease terms and security deposit amounts.
- Process for reporting maintenance.
- Move-in and move-out procedures.
- Rules and requirements around smoking, parking, guests, etc.
- Disclosures around lead, mold, and other issues.
A good lease includes all of the necessary legal addenda. There are instructions pertaining to how a tenant should give notice when they decide to move out as well as a list of requirements that address how a tenant can receive a full security deposit refund.
Additional Roseville Leasing Documents
The leasing paperwork includes more than just the rental agreement. Good organization is required before a tenant moves in. You can benefit from the right paperwork even before you list and market your property.
- Good paperwork includes rental criteria. You need to document the standards you use to evaluate applications. Provide your rental criteria to every applicant.
- You’ll need a rental application that’s legally compliant in California. If you don’t use the right type of application form, you may not legally be able to check backgrounds and credit.
- After you’ve completed your screening, you’ll need a form letter or some type of consistent communication that goes out to tenants who are approved and tenants who are denied. There are Fair Credit Reporting Act rules to follow when it comes to denying a tenant, so the proper paperwork is incredibly important, otherwise, you’ll face potential disputes and lawsuits.
The move-in inspection report is also something that you’ll need to have available and accessible throughout the tenancy, especially at the end of the lease term when the tenant is moving out.
Once you’ve approved someone and they’re preparing to move into your rental home, conduct a complete inspection. This is done to ensure everything is clean, functional, and ready for your new tenants. It’s also an opportunity to document the condition of your home in detail. This will protect you against paying for any damage that’s caused by the tenants. Take photos and detailed notes.
Tracking Inspections and Maintenance
As you’re discussing the rental agreement with your tenants, make sure you spend some time talking about maintenance. You want them to know how to report that repairs are needed, and you definitely want them to understand the difference between an emergency and routine repair.
When there’s an emergency repair that’s needed at the property, you should tell your tenants that you expect a phone call.
Routine maintenance is a bit different. In these cases, you should create a paper trail that reflects the problem and the process. Have your tenants submit the repair request in writing.
Receiving a written request provides the documentation you need to track when the request was made and when you responded to it. This will also provide you with a reliable maintenance record of work that was done on your property. It can help you plan for major repairs and replacements.
Roseville Rental Property Accounting
Accounting and bookkeeping are all about paperwork.
Tracking the income and expenses related to your rental property is an important part of managing a property. You’ll need that information at tax time, and you also want to be smart about the decisions you make going forward. You need a clear understanding of what you’re earning and where you’re losing money.
Electronic forms, reports, and statements are easy to generate, especially if you’re using a software system that supports everything you need to do and track. Make sure you can clearly record your income and expenses.
Roseville Property Management
The paperwork can quickly become tedious and putting together the right rental agreement can seem overwhelming.
You don’t have to do it yourself.
If you’re serious about protecting your investment property but you just don’t have the time to create a lease agreement, develop forms and paperwork, and double-check the state and federal laws that apply to your rental home, work with a property manager. Roseville property management companies already have the systems and paperwork in place to effectively and efficiently manage your property. You’ll be protected and successful.
We can help. Contact our team at Action Properties, and we’ll make sure you have all the Roseville property management paperwork you need.