First Time Landlord Needs Advice

[Brenna Wood]

We are about to endeavor in the landlord world. We just listed our property for rent on Monday and have a lady coming to look at our home tomorrow evening. Is there anything I need to do to prepare for her visit?

She talked about wanting to do an 18 month lease or longer. Do we charge a little less if she signs a 18 month or 2 year lease? I was thinking we would take $50 off our asking price of $1600/month if she signs a two year lease.

Also, she wants to rent our home a month before we listed it available (December instead of January). I don't want to say no, but we really wanted to spend the holidays in our home. This just comes down to what is best for our family, but we also want the right tenant. Pretty torn here, as we are moving across the country and will be our last holidays in our home.

[Ray Harrell]

Biggest thing to remember, DO NOT come off too friendly, even if the tenant seems super nice and friendly. This is a BUSINESS transaction. Do not agree to make any changes to the place to accommodate the tenant. Quickly get rid of any emotional attachment to the property. Decisions based on emotion and not business logic will cause you to make mistakes every time. It's INCOME PROPERTY, not a primary residence.