First deal closing in mid april - now what? HELP!

[Star Reid]

Boy am I jumping into an unknown field here. I’ve done all the research on the front end of how real estate works (like running numbers, knowing loans, and the process of buying the home) but none when it comes to managing it with tenants. Luckily the seller of my first property is understanding and has given me some things to take care of in terms of changing over utilities and such (this is a duplex). Both units have tenants living in them and he is giving them the 30 day notice that management will be passed along to me. I will then have to come up with my own lease agreement with them. I don't even have a payment system or anything in place. That is is why I am here. Can someone give me a checklist of some sort that would help me on my first rental property to make sure am as prepared as I can be?  Also I know I have rentreadi though biggerpockets but my seller uses Avail and suggested that to me. Does anyone else have any recommendations? How about other apps that could be helpful? I am a long time user of YNAB (You Need A Budget), so I will be creating my first business budget and I am excited! Scared and excited! Any other YNAB users here? Thanks in advance for all responces! 

[Andrew Freed]

Here are some tools I use to manage my rentals:

• Quickbooks (just changed from Stesa) - Accounting
• Gmail / Google Drive - I create an email for the business and use this as a shared drive for all of my rental documentation.
• Password Sheet - I create a password sheet for each entity
• Apartments.com - For rent collection and screening tenants
• ZDeposit - To escrow security deposits. This is a great website that should definitely be utilized.
• Electronic Locks / Lockbox - Day 1, I have a handyman set up electronic locks on the front and back of the property and set up a lockbox on the premises for contractors.
• Welcome Letter - Day 1, I provide the welcome letter going over the new ownership and any other applicable information.
  

These should be a good starting point.