First steps to becoming a landlord, and questions we currently have.

[Regnor VonDedenroth]

Hey all! 

My wife and I are currently renovating my 3 bed 2 bath house in San Diego. We have gotten done with almost all of our renovations needed to rent out our rooms. We are expecting to have tenants renting out the extra 2 bedrooms in the house by late November. We have had roommates before but have never been landlords before, as this will be our first time actually giving someone a lease. 

A few questions I have is where can I find a lease? I have found a few websites that will generate them, but there are a lot. Are any better than the other, is there a specific site anyone recommends? 

 How much does it cost to have an attorney look over it, and is that necessary?

 Does anyone have any tips or tricks as to what to put in the lease to keep ourselves in a good legal position? By that I mean any addendums, additions, extra paperwork that needs to be signed, and where to sign it? 

Any advice would be greatly appreciated! 

Thanks!

[Katie Balatbat]

@Regnor VonDedenroth

Congrats on jumping into the next step in your RE journey!

The question of whether you need an attorney really depends.  A terrible answer, but true.  It depends on the quality of the lease as your starting point, your risk tolerance, and the possible risk inherent in your property and/or tenants.  If you can get access to the CAR forms, that may be an excellent starting point for you.

*This post does not create an attorney-client or CPA-client relationship.  The information contained in this post is not to be relied upon.  Readers are advised to seek professional advice.