Owning San Diego real estate is a high-risk business, and you need a good lease agreement if you’re going to rent out properties. You want to be protected as a property owner and as a landlord. Your lease agreement must be put together to protect you against the whole gamut of potential liabilities you could face from a landlord standpoint.

The Purpose of a Lease Agreement

There are a number of things that can happen to put you at risk. There might be a death on the premises of your property, or someone could slip and fall, hurting themselves. There could be a mold problem, which results in people getting ill. A good lease agreement will spell out every potential circumstance and list the actions that should be taken to remedy those circumstances. We are in the business of covering ourselves and being thorough and comprehensive.

Use a Thorough and Specific Lease Agreement

People who manage property on their own often use a generic rental agreement from Office Depot or a similar store. That’s better than nothing, but it’s not as thorough as it could be. You have too much to lose if you’re not doing things in a comprehensive fashion. You need complete coverage, or at least as much as the law will allow. That’s what we do for our owners. We provide a 15-page lease agreement that covers everything we have encountered in our experience as Chula Vista / San Diego property managers.

Keep Your Lease Current

As laws change and policies are implemented, our law office provides us with updates and addenda that need to be attached to our leases. We want to stay current and covered, and a good rental agreement will do that. If you don’t have one, it’s similar to flying without a parachute and driving without a seatbelt. I don’t recommend it. One of our coaches points out that you could also give yourself a haircut to save money, but it won’t turn out the way you expect it to. If you’re trying to manage your own property in order to save money on a management fee, it may not turn out the way you expect. We’d be happy to talk about property management in Chula Vista and see how we can help. Please contact us at Noble Real Estate Services.