If you are a Landlord managing your property without a Professional Property Manager assisting you I've got some advice.

Take a look at some key reasons why you as a Residential Landlord in California should avoid taking shortcuts (I call them jumping over a 20 to save a Dime) in the condition of the rental property and in tenant placement:

Avoiding Shortcuts in Property Condition

1. Legal Compliance: Landlords are required by law to maintain their properties in a habitable condition. Failing to do so can result in legal action, fines, and penalties.

2. Tenant Satisfaction: Well-maintained properties attract and retain good tenants. Happy tenants are more likely to pay rent on time and take care of the property.

3. Property Value: Regular maintenance and repairs help preserve and even increase the value of the property over time.

4. Safety Concerns: Ensuring that the property is safe and free from hazards can prevent accidents and injuries, reducing the risk of liability for the landlord.

5. Reputation: A landlord's reputation can be significantly impacted by the condition of their properties. Positive reviews and word-of-mouth can attract more potential tenants.

 Avoiding Shortcuts in Tenant Placement

1.   Thorough Screening: Properly screening tenants helps ensure that they are reliable and financially stable, reducing the risk of missed rent payments and evictions.

2.   Lease Agreements: A well-drafted lease agreement protects both the landlord and the tenant by clearly outlining the terms and conditions of the tenancy.

3.  Background Checks: Conducting background checks can help identify any potential red flags, such as a history of evictions or criminal activity.

Avoiding Verbal Promises

1.   Legal Enforceability: Verbal promises are difficult to enforce legally. Written agreements provide clear documentation of the terms agreed upon by both parties.

2.   Clarity and Understanding: Written agreements help ensure that both the landlord and tenant have a clear understanding of their rights and responsibilities.

3.   Avoiding Disputes: Having everything in writing can prevent misunderstandings and disputes that may arise from verbal agreements.

4.   Record Keeping: Written agreements serve as a record that can be referred to in case of any disagreements or issues that may arise during the tenancy.

By maintaining the property properly, conducting thorough tenant screenings, and avoiding verbal promises, landlords can create a positive rental experience for both themselves and their tenants. This approach helps build trust, ensures legal compliance, and fosters long-term, mutually beneficial relationships.   

This is what we call this the "prudent investor standard" in running a rental property