Bought my first rental property, Need some advise!

[Carlos Juarbe]

I just bought my first condo and I’m getting it ready to list for rent.

This is my current game plan:

1. 1. Open an Ally regular checking account just for that one property. (Deposit rent & pay for expenses)
2. 2. Use Zillow Rental Manager (Free for 1st listing) to list and screen the tenant.
3. 3. Get insurance for the condo

Where would be a good place to find a good rental agreement template or maybe start with Zillow’s templates?

Is it that simple or do I need to think about LLCs, Business accounts, ETC?

Any help will be appreciated.

Thanks!!!