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:
Preventive Maintenance Checklist For Properties: Landlords’ Guide
The Big Picture On a Preventive Maintenance Checklist For Rental Properties: Include specific maintenance clauses in lease agreements to ensure tenants contribute to property upkeep. Address kitchen and shower drain maintenance to prevent clogs and potential plumbing...
Hard Money Loan Requirements: Unconventional Financing Part 3
The Big Picture On Hard Money Loan Requirements: Hard money loans offer quick, flexible financing for real estate investors but come with high costs and strict requirements. If you need fast cash for a unique real estate project, hard money loans can close in days and...
What Is A Co-signer On A Lease And When Should You Add One?
The Big Picture On Co-Signers In Lease Agreements: A cosigner on a lease takes on the legal responsibility for paying rent if the tenant fails to do so. Cosigners benefit landlords by expanding the pool of potential tenants, especially in high-demand markets like...
Reverse 1031 Exchange Timeline & Rules
The Big Picture On The Reverse 1031 Exchange Timeline & Rules: Unlike a traditional 1031 exchange, where you sell a property first, a reverse 1031 exchange allows you to buy the replacement property before selling the relinquished one. To comply with IRS rules,...
Contingent vs Pending In Real Estate Explained
The Big Picture on The Difference Between Contingent vs Pending Real Estate: A "contingent" property sale depends on specific conditions, like financing or inspections, being met before the sale can proceed. A "pending" property means the offer is accepted, and the...
Single Family vs Multifamily Rentals: Which Should I Invest In?
The Big Picture On Single Family vs Multifamily Rentals: Multifamily often beats single-family for income, with built-in risk spread. Single-family homes are easier to fund. 2 to 4 units still count as residential, but 5 or more units need commercial loans. Both...
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