Leasing & Onboarding New Renters
Everything you need to know about signing new lease agreements and onboarding new tenants.
Preparing to sign a lease agreement?
Don’t sign it lightly.
Have you collected rental applications from a large pool of candidates? Have you run credit, criminal and eviction reports on all applicants? Collected application fees or charged the screening reports to the renter, to verify they’re committed?
If you’ve done all that, and made all the phone calls to verify income, employment, housing history, etc., and you feel 100% rock solid about this tenant… now you need to make sure you have a defensive lease agreement.
Think of your lease agreement as your shield, your armor. Most state landlord-tenant laws are extremely tenant-friendly, and designed to protect the renter, not the landlord. That means you’re responsible for protecting yourself.
How do you do that? With a comprehensive, protective lease package. Read on for more details, and happy leasing!
“Required Reading” – Start Here First!
Want more? We have you covered! Here’s some further reading on lease agreements, security deposits, move-in and everything else you need to know about onboarding new renters.
Full Library of Leasing & New Tenancy Articles:
12 Tactics for Better Tenant Retention, Fewer Turnovers & Max ROI
Turnovers are ROI killers. There’s the lost income, during the vacancy. You also have to pay the mortgage, and pay to keep the utilities on. Most residential units need to be repainted. Tack on another several thousand dollars. Do you need new carpets? Often...
Late Fees for Rent: What Landlords Can Charge in Each State
What can landlords legally charge as late fees for rent? It depends on your state’s landlord-tenant laws, and in some cases your local city regulations. Many states don’t explicitly limit the amount that landlords can charge, but require that it be “reasonable.” Talk...
Apartment Amenities in Demand: Housing Features Tenants Want Most
As an investor, every dollar spent needs to justify itself. You have to weigh which real estate amenities are worth your extra money based on which can garner higher rental rates, better tenants, and stronger loyalty. Some apartment amenities are consistently in...
When Should Landlords Add a Co-Signer on a Lease?
“I’m sorry, but you need a regular income and a good credit rating to lease one of our apartments,” Mary Keller explained to the anxious 20-year-old student eager to lease a one-bedroom unit in the popular Harlan House Apartments near the University of Arkansas. The...
Should You Become a Section 8 Landlord? The Good, The Bad, & The Truth (Infographic)
Heard tales of guaranteed rent payments, courtesy of Section 8? Deposited by the government, and paying higher-than-market rents? If these stories perked up your ears, you’re not alone. Section 8 landlords can make good money, with a lower risk of rent defaults – at...
When Should Landlords Charge a Holding Deposit for New Lease Agreements?
Guest article by Alex Tkachenko from RentBerry. When should you collect a holding deposit, as a landlord? And what laws govern them? Deposits, of both the security and holding variety, are regulated by state landlord-tenant laws in the US. Which doesn't mean...
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