It is “A MUST” for rental property owners to “cross their T’s and dot their I’s” when dealing with the legal aspects of rental property ownership … or else you lose your case as a matter of fact, by law, should you find yourself in court action against a renter. As referenced in the LAWS & RULES section of this Website there are numerous laws regulating the operation of rental properties – federal and state laws; and local ordinances. Be sure you have a very good working knowledge of this critical aspect of rental property ownership. The numerous FORMS available from RPOAMM help you on this knowledge journey.
The very first thing is to familiarize yourself in a very comprehensive fashion this critical.
The very next first thing does not require any reading or form – it only requires your smart phone (or whatever camera you choose) – MAKE SURE YOU TAKE PLENTY OF PICTURES OF YOUR RENTAL PROPERTY BEFORE THE RENTER MOVES IN. AND, OF COURSE, TAKE PHOTOS IMMEDIATELY AFTER THAT RENTER MOVES OUT.
The process begins with the rental application and the related credit/criminal check you can do through the RPOAMM Website or direct contact to the Office. Make sure you also have a lease that fits your property and your preferred business style – again there is a so-called “standard lease” form available from RPOAMM. Most rental property owners begin with something “standard” and then over time are likely to modify it based on their experiences and personal business style. A popular discussion topic for RPOAMM general meetings is a discussion of leases and what’s new in the way of laws, rules and local enforcement initiatives – you won’t want to miss meetings addressing this topic.