Know What It Takes to be a Successful Brentwood Landlord - Article Banner

Are you prepared to be a successful Brentwood landlord?

Renting out a property is one of the best ways to invest in real estate. You’ll earn consistent and recurring rental income and build the value of your asset for long-term returns on your investment. All of this while your tenants are paying down your mortgage and contributing to the expenses associated with your asset. 

However, renting out property also involves frustrations and headaches. You are, after all, dealing with tenants and complaints and pets and maintenance on a regular basis.  

Here is a look at what’s required of you in order to be a successful landlord.

Your Brentwood Rental Property is a Business

Real estate can be pretty emotional. We’re talking about houses. Homes where people live. If you’re renting out a home that you once lived in yourself, the process of renting out that property can be even more emotional. To be a good landlord, however, you have to take your emotions out of this and remember that you’re conducting business. 

The property is your investment. It’s not where you live yourself. Before you become a landlord, make sure you can make business decisions rather than emotional decisions. 

Brentwood Tenants are Customers 

Your tenants are paying to live in the property that you own. This makes them your customers. 

To be an effective landlord, you’ll need to approach this relationship with customer service in mind. You want to provide a positive rental experience for your tenants, because that ensures rent comes in on time and your property is well-cared for. It increases the chances that you’ll retain those tenants. 

All of this is good for business. 

Tenants have choices when it comes to where they’re going to live and who they’re going to rent from. Make sure they know you value and appreciate that they chose your property. Do everything you can to keep them in place. Reward them for paying rent on time. Respond to their maintenance requests immediately. Check in once in a while to make sure everything is going well at the property. 

Understanding California’s Rental Laws

Even experienced landlords find themselves struggling to keep up with the ever-changing legal landscaping in California. You’ll have to deal with rent control, just cause eviction, and fair housing laws. You’ll need to know the difference between a pet and a service animal. Security deposit requirements are strict and detailed. 

New landlords are especially in danger of making an expensive legal mistake. 

Avoid mistakes by educating yourself on how to legally:

  • Market your property
  • Screen your tenants
  • Rent out your home 

Get a good lease agreement that protects you and your property. Give your tenants proper notice before you enter the home or raise their rent. Only work with insured and licensed vendors. 

Working with Professional Brentwood Property Managers

Be a LandlordBeing a landlord requires a lot more than the effort of placing a tenant and collecting rent. You can benefit from the experience and resources of a professional Brentwood property management company. There’s no need to worry about emotional attachments, tenant conflicts, or property damage. As experienced property managers, we’ve seen and done it all. We’ve made the mistakes already. You can benefit from our experience and have a better investment experience. 

Please contact us at Parks Property Management, and we’ll gladly tell you more.