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Updated over 10 years ago on . Most recent reply
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First ever tenant, first ever lease and need help
This is my first tenant ever, and my first lease ever. Does anyone have a package of all the docs they typically use for a lease of property, and a typical run through of the procedures they follow and the steps taken from start to finish of the process. As well as examples of fees that are included in the lease for late rent and etc.
I want to do this right. I have made mistakes of renting to family and I am confident that I can have a great experience renting to strangers.
Thanks in advance.
Most Popular Reply
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Honestly (I hope this doesn't offend you because I am definitely not trying to), it sounds like you are very new to being a landlord and it may be in your best interest to have a licensed property manager handle it for you. The 8-10% of the rent that they charge can save you from costly court costs if you don't dot you "i"s and cross your "t"s. They can also save you from loss in rental revenue by listing it too low, over paying vendors, poor record keeping, etc.
It is possible to do yourself but you just want to make sure you know what you are doing to limit liability and risk.
Best of luck!
- Robert Adams
- 702-349-9175
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