Where can I find rental documents ie lease, inspection, screening

Question

I am soon to be a first time landlord and am in search of documents such as leasing agreements, pre inspection paperwork, screening questionaires.  Can anyone point me in the right direction for any of these?

Nathan Gesner · Answer

BiggerPockets has some files available for purchase or they are included with Pro membership.

For screening applicants you should search Google or these forums for "application screening" and you'll find plenty of information. The screening companies have an application online for you to use.

For other documents, go to Google and type in the name of what you are looking for. For example, "lease agreement south dakota" brings up 4,010,000 results. From what I can see, the first page is full of good examples.

Keep in mind that what you find online or from another person may not comply with the law. It may also be missing things that are important but you won't even know because you don't have experience. I recommend you search for 20+ residential lease agreements and compare them to see what is commonly used and what you feel is important. Then take it to an attorney to be compiled and cleaned up.

Matt Fisher · Answer

Just call a local real estate attorney in DSM.  You will need one eventually anyway, why not make their acquaintance in advance?  For a couple hundred bucks, most will provide a basic lease, etc. that is tailored to Iowa landlord law.

Joe Splitrock · Answer

@Aaron Q. they have a pack of forms available for $99 from BP that includes application, lease, inspection and other forms - some you probably don't even know you need. They are attorney drafted, so you don't have to worry about illegal clauses:

http://get.biggerpockets.com/forms/index/

Other than that, you will want to get educated on fair housing laws when selecting and dealing with tenants. Sioux Falls occasionally has classes, but here is link to the HUD website to get you started.

https://www.hud.gov/program_offices/fair_housing_e...

Also be aware if your rental property is in Sioux Falls, that you need to register it with the city. There is no charge. This is important because if there is a code violation, they mail you a letter or call you. Otherwise they just leave notices at the property:

http://siouxfalls.org/code-enforcement/rental-regi...

Final suggestion I have is setup an appointment with your CPA to understand how to property track rehab costs, income, expenses, mileage and depreciation. Rental properties add a level of complexity that I don't recommend you do yourself, at least the first year. Tax prep costs are tax deductible.

I am local and been at this over 15 years. Feel free to hit me up if need any help.

Kenneth Garrett · Answer

@Aaron Q.

Most likely you can find documents in your state by googling.  I can find rental leases through our local MLS.  Its free and meets your specific state requirements.  You may need to add the rules and regulations which you can also find many things on line.

Good Luck.

Bjorn Ahlblad · Answer

@Aaron Q. Join your State LL Association; they have all the forms and you can screen background and credit through their portal. It is cheap and great support for LL's. Networking and meetings too.

Thierry Lemercier · Answer

Hi Nathan and Joe,

What do you guys think about Avail?  It is actually advertised above this conversation and I have used it for my rentals in Maui.  When you register, and depending on the level of service you chose, you can draft a lease agreement.  I enjoyed the tool, but now that I am with a management company I have moved away from it.  Would you recommend it?  Aaron hopes this helps all of us and great question.  I also recommend setting up time with a CPA if you don't have one and a real estate lawyer.  Both have proven to be very valuable to me during this tax season.  Also, don't forget to keep track of all you rental related income and expenses.  Keeping track on a monthly basis is a good habit and makes tax season much easier.

Thanks for sharing and caring.

T

Aaron Q. · Answer

@Joe Splitrock

Joe, the property I will be renting out is in Des Moines, I am moving there.  I am going to look into a site similar to the one you posted a link to for Sioux Falls.  Thank you for your time and info.

Aaron Q. · Answer

@Nathan G.

Thanks a lot Nathan, I'll definitely look into recent documents that are in ljne with what im trying to do.  Thanks for the advice sir!

Where can I find rental documents ie lease, inspection, screening

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