First rental property acquired! - Checklist to fill with tenant

[Ben Kirchner]

As of today, I've been told my offer has been accepted for my first investment property!  Exciting.  However, I'm hustling to get everything in order to fill it.

The house is move in ready as of now, and I won't be closing until the start of January.  In the meantime, I'd like to get all my ducks in a row.

I'm getting pictures of the property, posting them on zillow, facebook groups, and putting out signs pointing out the house for rent.

Questions:

- Are there recommended websites for putting together a lease agreement?  Making sure everything is covered.

- What are the recommendations investors here have for tenant screening?  Outside of verifying income.  Are there certain resources that cover all needed areas for this, as well?

I realize I'll be looking for tenants outside of peak rental time.  Should I change my strategy from what it would be if I was renting it at a more popular time?  Would consider opening it up for shorter.

[Eddie Memphis]

You are creating a legal contract. It's one of those things that is best left to an expert.

I believe in using a lease a lawyer drew up. My guy has been doing it for years and it costs one hour to get a lease specific to a property. That way, if there is a problem with anything, it falls back on him.