Did you know
real estate investing is hot right now?
Over half of my buyers are buying to invest. It isn’t always fun and games though. I recently had to give notice to one of my
tenants to leave so I thought right now would be a good opportunity to dip into
the topic of property management again since I haven’t touched on this for a
while. (SIDE NOTE - Not having a lot
going with your investment property is a good thing, means your tenants are
hassle free and the money is coming in passively)
It is
important to know that tenants have rights and landlords can’t just do whatever
they want. This recent tenant I asked to
vacate has occasionally been late with rent, parks his car where he shouldn’t,
and I am sick of delivering 3 Day Notices to threaten him into compliance. His one year lease is ending on June 1, 2013
and I decided he has to go. I had to
give him the “boot.” He has been a
tenant for almost two years. As much as
I would like to say “be gone” and not see him there anymore, he has rights and
I have procedures I must follow.
California law states that tenants that have stayed for over a year,
landlords must give them at least 60 days advance notice in order for them to
move and find another place. The proper
way give that notice is through a letter which I have attached to show you how
it’s done. That is the exact original I
used to politely ask my tenant to leave.
Had I made
him leave without proper notice and time for him to find a new place, he could have
easily come after me with the force of the law backing him. As a landlord, it is important that you do
not let your instincts get out of control and protect yourself by having all
notices done properly in writing.
If you have
any questions, feel free to contact James Y. Kuang at (626) 371-5662 or by
email james.kuang@coldwellbanker.com
VISIT MY WEBSITE TO LEARN MORE
