Creating & Administering a Lease

If you recently purchased rental property, we believe you made an excellent financial investment! Rental properties in San Diego can generate both value and passive income that positively affect your investment portfolios. You should know there is some work involved in maintaining a good cash flow, and it is more than just collecting rent. You must be able to create and administer a lease properly.

Lease Content

Sometimes, new landlords in San Diego make the mistake of copying someone else’s lease form and using it. That is a bad idea. The lease you are copying may be an out-of-state document that is not legally binding in California. Moreover, that copycat lease may not reflect your situation. It is better to spend the money to have an attorney draft a reliable lease document for you.

There are certain things you need to have in the lease:

• Price: The lease must specify how much rent will be paid each month and when that cash is due. Other fees and security deposits need to be outlined in the lease as well.

• Any Restrictions on Occupancy: Some landlords will permit tenants to sublease to other people. It would be best if you decided whether you will allow that. Make sure that those people who are going to be the tenants sign the lease. For example, if two unmarried people are going to be in the apartment, both should sign the lease so that if the relationship breaks up, whoever remains in the space is responsible for paying the rent.

• Prohibited Behaviors: Disruptive activities such as loud noise and illegal activities including drugs should be expressly prohibited, and the document’s language must clarify that prohibited behavior can result in eviction.

• Damage and Repair Work: Landlords in San Diego should point out in the lease who bears responsibility for any damage to the property. A landlord may allow the tenant to make some repairs. However, any damage done to the apartment must be reported immediately to the landlord.

• Entry: It is important to respect privacy, but there are cases when you may have to enter the property to check the condition of the property and inspect for damage. The lease must specify under what conditions a landlord may enter the property and how much prior notice needs to be given. Existing law must be consulted so that the lease does not stipulate something that is against a statute.

The Importance of a Third-Party

Creating the lease is the first step in managing a property. There is much more to be done, which may cause problems for any property owner in San Diego who has an extensive real estate portfolio. There are only so many hours in a day, and a landlord has a lot of obligations. It is smart and time-effective to contract with one of the property management companies in San Diego for day-to-day administration.

These professionals manage leases on a routine basis. They will see to it that the terms of the lease are followed and that mistakes rarely happen. Property managers also have connections with reliable repair contractors and can handle emergencies in the middle of the night.

We suggest you look carefully for the right property manager. Some are great and others are not. The higher quality property managers are ones you should consider, and Alta Vista Properties is a property management company in San Diego that is one of the best.

We Are Experienced Property Managers

Alta Vista Properties has managed properties in San Diego for 3 decades. We know how to administer a lease and resolve problems before they become emergencies. We are transparent with the lease, and we carefully explain the contents and answer any tenant questions. You can depend on us to be good stewards of your investment.

Please do inquire at any time about our property management services. We can be reached at 858-274-3600 or by email at info@altavistaproperties.net. We look forward to hearing from you and answering your questions.