Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 on . Most recent reply

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...