Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

3
Posts
0
Votes
Marcus L.
0
Votes |
3
Posts

Questions on self managing out of state duplex bought w/ tenants

Marcus L.
Posted

I just purchased my first out of state investment property which is a duplex in NW Arkansas. I wanted to give a go at self-managing the existing tenants until if/when it becomes a burden as Arkansas is a landlord friendly state and they are kind of paying below market rents so my plan is to just keep things as is and if they are a headache then I can get a property manager and advise of a rent increase. 

1. The tenants lease has already expired and they are on month to month. Do I need to copy the existing lease and have them sign it with my LLC as the landlord or can I just email them that I will honor the previous lease since it is month to month? One of the tenants co-signers moved out and wanted to sign the new lease without them but I feel it would be better protection for me to just honor the existing lease as is.

2. They are currently paying rent online through Cozy. I was going to sign up for Cozy but thought I'd ask for a couple "unbiased" recommendations on "popular" tenant friendly rent payment portals.

3. As far as signing a new lease goes, I was going to sign up for docusign for 30 days unless there is a good tenant friendly free option out there to sign the new lease (if going that route) along with the lead-paint disclosure (I am sure they signed one in the past with the previous landlord but just to be safe).

Loading replies...