First Time Landlord Looking for Advice

[Kera Takacs]

I am in the market to rent out my first property as an LTR. Should I take the time to meet with a lawyer/real estate agent to prepare my rental property? Is it acceptable to use a general lease agreement found on the internet? And what are some of the best ways I can protect my property? Any and all tips would be appreciated!

[John Underwood]

I built my lease personally from multiple good versions I found.

There are discussions on here about cluases to put in your lease.

Ask a fellow local landlord if they will share.

At the end of the day it would be best to have an attorney review what you put together or get one from them.

I was comfortable putting mine together and I have revised it over the years.

You do not need an LLC for one property. Make sure your insurance policy has adequate coverage for a rental.

Require your tenants to have renters insurance or at least say it is recommended in your lease that their personal property would be covered under their policy not yours.