Documents Needed For First Rental???
I just finished up cosmetic work on my first rental (SFH) and now ready to advertise. What documents(applications, lease, security deposit form.....etc) do I need when a potential tenant says where do I sign??? And how do I obtain these documents?
You can find many of the documents you need in the freebie section of this website.
A great Book as a reference to new landlords, is Landlording by Leigh Robinson. You can probably get it at your local library or bookstore.
Staples carrie's lots of these forms pretty cheap. Also pretty generic.
ED
I started with generic forms and then eventually copied them onto my computer - I can edit rental agreements for specific tenants/situations/pets/children, etc...
Good luck, you're a big-bad-landlord, now!
- Noel
The important forms are the application which should have verbiage that allows you to check an applicants credit and the actual lease agreement itself. Other forms will be specific to your situation such as pet agreement and waterbed agreement if these are allowed. Also if your place is an older place i.e; pre-1980 you will need to give the renters a lead-based paint pamphlet and have them sign for its release to them. (This applies in CA so check your local laws) Most of these forms can be found on this site or even with some of the tenant screening companies.
On the thought of a first time landlord, and with my own experience as a BBL, (big-bad-landlord), I offer these suggestions overall:
1) meet any prospective tenants in person, 2) verify information on applications that you deem critical in your decision of a tenant, 3) if you allow pets/children, try to meet these additional tenants in person also, (especially dogs, IMO, cause they could pose a liability - also check your insurance to see what types of pets are allowed in NOO prop).
Unfortunately, in my experience and depending upon your location/situation, tenants can and will lie, smiling and charming and straight to your face. Yikes, you say! Well, yes, but if you are a diligent BBL, you will prevail! Landlording is tough at times but can put some good extra $$ in your pocket. Good Luck!!
-Noel
Couple of ideas...
Other local landlords (check the for rent section of your paper)
Your local apartment association
Walk into the leasing office of a big complex and ask for a lease agreement.