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Updated over 7 years ago,
First time Landlord!!! ADVICE
Hello All,
My name is Nathan and I am a 26 year old traveling RN working currently in Los Angeles, CA but my home base is in Lafayette, Louisiana. I bought a property in Lafayette back in September of 2016. Ended up leaving in March of 2017 to be a travel nurse. I have my sister currently living there and looking after my place but I have two empty bedrooms still. I asked my sister to see if her friends would like to move in and pay rent to help me out with the mortgage and within hours she had a couple friends who wanted to. My ultimate goal in buying this property was to "house hack" it to begin with so this works out perfect! I came to the forum today to see if anyone had advice on rental property leases. I have not written a lease before and am just looking for insight and advice.
Should I write my own? Or would it be smarter to get an attorney involved? Or would linking up with current investors and using/modifying theirs adequate? I would rather do it on my own and save the expenses that an attorney would entail. Just wanted to see what the BP world would do/have done in my situation as a firs time landlord with their first rental lease agreement.
Any input is greatly appreciated!
-Nathan