Renting out a house in Orange County CA

1
Renting out a house in Orange County CA
www.gerrygoodman.com
2
Renting out a house

• Renting out a house in Orange County CA and
  officially becoming a landlord is a big step that
  comes with a lot of responsibilities. The housing
  market is presently not in the perfect shape.
  Hence, finding a buyer is hard enough, and
  finding a good renter is an outcome of rigorous
  planning.

3
10 things that one needs to know before renting
out a house

• 1. Go by the laws There are plenty of
  significant laws and guidelines that are
  applicable to the process of renting out a house
  in Orange County CA.
• The landlord has to cover areas such as
• Gas safety
• Electrical safety
• Wiring of the house
• Carbon monoxide detectors
• Architectural floor plans
• Fire and smoke alarms

2. Registering Before renting out a house in
Orange County CA the property-owner must first
register as an official landlord with the local
housing authorities.
4
Renting out a house

• 3. Change Locks Before a new occupant starts
  inhabiting the house, the landlord must change
  the locks of the house. This is done as a safety
  procedure for the renter and to guard the
  property owner against any form of liability.
• 4. Tenant requests The tenant may make a special
  request before moving in. Some common special
  requests include
• Making sure the house is in tune with the latest
  interior design trends.
• Having a special pet provision.
• Installing a washer or dryer before moving in.

5
Renting out a house

• 5. Ongoing Expense If the landlord has never
  rented out a property before, he or she may be
  uninformed of several of the expenses related to
  being a proprietor. In addition to the numerous
  safety credentials and licenses, the landlords
  will also need to factor in maintenances and
  other recurring expenses.
• 6. Clean the property This is especially
  required in case the landlord is carrying out a
  property turnover, and the old tenant is getting
  replaced by a new one. Regardless of the status
  of the property, the unit must be carefully
  cleaned, particularly areas like the tub,
  lavatory, oven, and refrigerator. The unit must
  not only look brand-new, it should also be
  renovated to get rid of all the issues before a
  tenant moves in.

6
Renting out a house

• 7. Provide the tenant with contact information
  Assuring the full cooperation with tenants by
  sharing proper contact information is the best
  gesture a landlord can make. It encourages
  communication and a growth of reputation for the
  landlord.
• 8. Insurance Cover The insurance policy for a
  landlord is dissimilar to that of a regular house
  owner. The tenants need to have their own
  insurance policy package for the period of time
  they spend in a landlords property. The landlord
  must discuss the matter beforehand with his or
  her policy agent.
• 9. Tax Any income that the landlord makes from
  renting out a house in Orange County CA is liable
  to tax. The landlord must make sure his or her
  financial manager or accountant is aware of the
  income coming from rent. 3 levy gets imposed on
  secondary houses and buy-to-let landlords.

7
Renting out a house

• 10. Hire a rental property management team If
  the landlord is certain that he or she will not
  be able to take care of the property on a regular
  basis, hiring a rental property management team
  is advisable.
• The property managers take care of things such
  as
• Maintaining the exterior house design and other
  areas of the rental property that needs upkeep
• Tenant Screening
• Rent collection
• Tenant Eviction

8
GERRY GOODMAN REAL ESTATE SERVICES
Thank You
Contact
Gerry Goodman Real Estate
3239 E Meadowridge Rd, Orange, CA 92867. Mobile
714-588-3338