Leases and Rentals in California: Cost-Efficient Real Estate
LEASES
When it comes to property for leases and rentals, there's no real estate professional in the state of California more well-versed in handling them than Rebecca Satti.
Leasing a property or renting a home can sometimes be more beneficial than financing or owning one in the long run. Concentrating on financial freedom, retail property for leases and rentals offer great flexibility when managing monthly expenses by streamlining your budget because of fewer necessary expenses. There is also no need to worry about whether the value of the property fluctuates.
Types of Leases
Gross Lease:
The tenant pays a large sum, while the landlord pays for the insurance, utilities, maintenance, and janitorial services. When the expenses rise, so does the rent.
Net Lease:
The tenant pays a smaller sum than the gross lease but covers their maintenance and utility fees.
- Single-Net Lease: The tenant pays for the base rent and a portion of their property tax.
- Double-Net Lease: The tenant pays for the base rent, a portion of property tax, utilities, and janitorial services.
- Triple-Net Lease: The tenant pays for the base rent, a portion of property tax, insurance, and the before-mentioned maintenance costs.
Modified Gross Lease:
The tenant pays a large sum, but the other fees vary. This agreement is flexible, allowing the landlord and tenant to discuss who will pay for the various extraneous expenses.
Leases and Rentals: California Laws
The tenant selection process imposes an anti-discrimination law wherein the decision should not be made based solely on race, religion, sex, sexual orientation, marital status, disability, familial status, or ancestry.
The lease or rental contract should also contain the information surrounding the final agreement between the lessor and lessee:
1. Parties and Property:
This refers to the details of the tenant, the property owner, and the property. For commercial leases, the registered business is included.
2. Terms of Lease:
This identifies the length of time a tenant can occupy the property. Residential leases generally run for a year, while commercial ones last longer.
3. Lease Extensions:
These refer to extensions on the lease after the agreed duration. Residential leases can convert into a month-to-month tenancy where tenants continue to pay rent but can be terminated with a 30-day notice by either party.
4. Termination and Renewal:
This pertains to the event wherein the tenant ends the contract prematurely and whether there is a fee to settle.
5. Rental Fees and Late Payments:
This focuses on the payment terms. The amount agreed upon should be documented, including late payment fees.
6. Security Deposit:
This refers to instances wherein property damage has occurred. The security deposit should cover it.
7. Utilities and Maintenance Responsibilities:
This refers to the distribution of service expenses and responsibilities for utilities. It also stresses the landlord's responsibility to take care of important maintenance duties to make the property livable.
8. Insurance:
Although not required by the state law in California, a landlord may choose to include this in their list. This would protect renters by covering the costs for personal belongings and medical payments for injury treatments.
Why Rebecca Satti Realtor for Your Leases and Rentals?
Because a real estate professional can help you find leases and rental properties to fit your budget and needs. Not all listings are readily available. In a state as competitive as California, you need a specialist with knowledge of current trends and the local market. Rebecca Satti is committed to finding you the best leases with her experiences as a real estate agent, business owner, landlord, and tenant.
Get in Touch With Rebecca Satti Today
Do you need a specific arrangement with the landlord, or have requests to be considered? Negotiation is part and parcel of the services I specialize in.
When you’re ready to get in touch, I can look for a retail property for lease or rental that suits you, your budget, and your lifestyle best. Call, and let’s talk.
