Protecting myself from tenants

[Pete Fiannaca]

Morning Everyone -

I just purchased my first rental property and am in the process of developing a lease agreement. Since I only have the one property at this time, I opted for Umbrella instead of an LLC.

Question is: Can I use a moniker or eventual business name on my lease with a potential tenant, or since I don't yet have a DBA or LLC, must I use my legal name? Also, am I required to disclose my permanent address or any other personal information to potential tenants?

Any additional insight on creating that first lease would be great! Thanks!

Best,

Pete 

[Mitch Messer]

Hi @Pete Fiannaca. I agree with @Thomas S. that you should be mindful of your state's requirements. But also be mindful of how you will approach things when events go sideways. I'd avoid getting too cute. If you have to file for eviction, and the lease landlord is a trust, who appears in court? The trustee?

Fortunately, there's absolutely no need to wing it: Talk to experienced investors in your area and buy yourself a set of solid, time-tested, state-approved operating documents (including a lease agreement). Until you know better, do what those experienced landlords do.

Otherwise, you'll never know what hit you until it's too late...