Residential Property Management/Renting a House

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Question
My husband & I live in an apartment. We have been here ten years. Within a year, we would like to rent a house. We're not ready to buy quite yet. Here are my questions:

-Can we rent from a company rather than an individual?

(I feel renting directly from a person is too risky)

-What can we do to minimize or prevent us from having to involuntarily move out shortly after moving in due to circumstances beyond our control?

(I've heard of nightmare situations where tenants renting a house had to move out due to circumstances that were not their fault.)

Please advise.

Answer
Yes, you could search around for a rental house owned by a larger company. Alternatively, you could also rent through a property management company, who represents multiple small investors. There really isn't much of a difference as either type of landlord would have to adhere to the terms of the lease.

The lease term will dictate how long you can be assured of renting the property. You can also try to negotiate an option to extend to include in the lease. One risk is that the property owner fails to pay their mortgage and ultimately get foreclosed on, which is something that is happening much less these days (with rising property values). Also, there has been recent legislation to help protect tenants who find themselves in that scenario.

Best of luck!

Residential Property Management

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Mike Fortunato

Expertise

Very familiar with all aspects of property management (tenant/landlord issues, lease administration, facilities maintenance, financials, etc). 25+ years in property management

Experience

I have been in real estate management for 25+ years, both residential and commercial properties. Currently own and operate a commercial and residential real estate management company in southern California.

Organizations
IREM; BOMA; MLS; National Association of Realtors; California Association of Realtors

Education/Credentials
CPM (Certified Property Manager) and RPA (Real Property Administrator)

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