On Aug 5 we closed on House #14 and our renter started to move in yesterday (Aug 23). The rehab turned out to be a little bit more extensive then originally expected, it turned out be pretty much as nice of a job as the flips.
After reviewing all the paper work and laws I decided to go with a month-to-month lease agreement from the California Association of Realtor’s (CAR). The paperwork seems to be very good and specific to California, CAR has a form adviser which tells me which forms are needed for each transaction.
I have been reviewing tons of information on renting properties I want to start trying month-to-month leases, if the tenant decides to move out and break a lease I’m responsible to re-rent it anyways and they only have to pay the difference (if I can collect it).
Before
After
Before
After
Before
After
Before
After
Before
After
Before
After
Here are two good posts that talk about month 2 month vs lease on the SDCIA webstite
http://sdcia.websitetoolbox.com/post?id=4240381
http://sdcia.websitetoolbox.com/post?id=4230315
Curtis Gabhart´s last blog ..Twitter Weekly Updates for 2010-01-10