#1 – Deal with Problem Tenants Early On
For many landlords, the prospect of having their real estate go vacant for an extended period of time is much more worrisome than a tenant who pays late or is unable to pay their full rent. However, this lackadaisical approach can come back to hurt landlords later on.
A tenant’s failure to pay on time or pay in full is often a sign of questionable financial stability and may foreshadow a complete failure to pay at a later time. Many of these tenants also inexplicably put up a fight when it comes to terminating the tenancy for non-payment of rent which can result in months of unpaid rent, as well as substantial legal bills to remove the tenant through an unlawful detainer. It is much more efficient and cost effective to deal with a problem tenant immediately rather than much further down the road where an expensive legal fight becomes necessary.
#2 – Conduct Regular Health and Safety Checks
In residential leases, landlords should regularly check on conditions of the property, paying special attention to any health and safety issues. Such issues can create an immediate defense in the event an unlawful detainer becomes necessary and could also put the landlord at risk for substantial liability if a injury were to occur as a result of the issue.
#3 – Lease Agreements
Using cookie cutter lease agreements, or lease agreements off the internet is quite common for commercial landlords and residential landlords. Unfortunately, many of these leases contain generic provisions that may create headaches later on. It is important to discuss your goals for the property with an attorney and have them create or modify a generic lease with your interests in mind to ensure you and your property are protected and to minimize legal costs further on.
Liam Perry is an Associate Attorney at The Loftin Firm. For questions relating to this blog post or any other California real estate, land use, corporate, or estate planning matter, contact The Loftin Firm at .