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Updated over 4 years ago on . Most recent reply
First Time Landlord - Precautions?
So living in a townhouse in Northern Virginia and will be moving out, so planning to rent out the existing one.
Have been reading about it and have few questions:
1- All appliances work, paint is in reasonable condition, as well as the carpet. Should I replace all these things before renting out or just ensure they are functional?
2-HOA, should be combined into the rent and I take care of it? So there are no delinquencies?
3-In terms of basic maintenance, should I add anything in agreement that I'll take care of it on quarterly basic or a basic inspection on a yearly basis or legally not allowed? Or add in the contract to be a responsibility of the tenant?
4-Was planning to post online as a rental and then do screening based on it, would that be a right approach for the first one?
If there are any tips or advise, would really appreciate it. Thank you all.
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I agree with @Bjorn Ahlblad If the numbers work the best is to hire PM to alleviate stress and could even help you focus on more investments.