Property Management News And Updates

Guidelines for Property Management Anaheim Companies That Must Be Followed

November 16, 2016 by Posted in: Uncategorized

When searching for a property management company to oversee your Anaheim properties, you need to make sure that the company is in compliance with California state laws. There are certain guidelines property management companies in Anaheim must follow. These guidelines are in addition to laws that all businesses in California must follow including having proper insurance, following workplace safety regulations, paying taxes and preventing and addressing any acts of sexual harassment. Ensuring that the property management company follows the required guidelines protects not only you and your real estate investment, but also the individuals to which you rent your properties.

Licensing Requirements3

California law requires that an individual performing duties as a property manager must either hold a real estate broker’s licenses or be supervised by someone that has one. Only property owners who own and manage their own buildings personally do not need to have a broker’s license. The Department of Real Estate (DRE) administers the licensing of brokers. To gain a license, the individual must provide proof of their education and training in real estate and pass the state licensing exam. The individual must meet continuing education requirements to retain their license. A real estate broker’s license can be suspended or revoked if they fail to follow the laws pertaining to managing properties.

Security Deposits

Security deposits are limited by California law to a maximum being two times the amount charged for monthly rent if the rental is unfurnished. The tenant may request an inspection before they move from the property. During this pre-moving-out inspection, any damage that will affect the return of the security deposit will need to be pointed out. Within 21 days of the move-out, the property manager must release the security deposit in full to the former tenant and document any monies withheld for repairs of cleaning. Documentation for such, including receipts and invoices from contractors must be provided if more than $126. A tenant has the right to dispute any issues with the return of a security deposit for up to four years.

A blue house managed by an property management Chicago companyFollow Rent Control Ordinances

Local legislation regarding rent control protects tenants from exorbitant rent increases and helps prevent evictions. In many California cities, property managers are required to pay interest on their tenants’ security deposits. They must also advise their tenants of their rights of being able to contact the rent board if there are disputes regarding rent, security payments or charges for utilities.

Meeting Standards for Habitability

A property manager is responsible for making sure that each unit that is rented meets the minimum standard for habitability as determined by California laws regarding safety, health and building codes. If the property manager fails to maintain this standard, the tenant may use this as a defense against an eviction if they withhold their rent.

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