First Time Landlord: Am I Doing It Right?

[Harry Campbell]

Hey All,

So I've decided to rent out my property. I'm moving out 8/1 so I listed it on the high side to start at 2k/mo. A guy came in with his girlfriend and looked at it yesterday and the most he can do is 1900/mo, which is fine with me since it's still on the high side of what I think it's worth.

I had him fill out a bunch of pre-screening questions that I pulled from this forum like intended stay, why are you leaving current place and everything checked out. I had him fill out a rental app and had him to do an experian credit check and everything looks good. He is a self employed realtor making 4,000 a month, she works in an office environment making 2,600.

Here are my questions:

1. They want a 2 year lease, good idea or bad idea?
2. Since he's self employed should I ask for tax return and w2 or paystub from her?
3. Should I have both sign the lease? If so, should I do credit check on her too or just him?

Thanks!

[Jon K.]

I wouldn't do 2 years. Do a year and let them renew later.

Get his W2 and tax return.

Check his credit, her credit.

Check his income, her income.

Check his references, her references.

I would want them both on the lease.