Hello, I am a to be first time landlord. My wife and i purchased our home in 2019 and over the years have planned on renting the home out when the time was right. Recently i was presented with the opportunity to rent out a home that is owned by my workplace. The rent for the new home will be less that what i could rent my current home for. If there is any suggestions or tips on things i should be considering or doing as a first time landlord i would greatly appreciate any advice. A few questions i have are, Do i need to start an llc for my one rental home? What are some things that i need to have in place before getting potential tenants? Some info on our home its located in Pennsylvania, 5 bd 1.5 bath with a shed outside for storage. 2 car parking and a small yard. Thank you for any help. Im excited to be a part of this community and to continue to learn about real estate investing.
