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:
NOI in Real Estate Investing: Net Operating Income Explained
Key Takeaways: Net operating income (NOI) shows a rental property's profitability after deducting operating expenses. It reveals how much cash flow an investment property can generate. The NOI formula is simple: Take gross operating income and subtract operating...
10 Ways to Find Distressed Properties as an Investor
Key Takeaways: Distressed properties, neglected or abandoned due to financial struggles, provide investment opportunities for buyers to acquire, renovate, and profit from renting or selling. Categories such as Foreclosure, REO, Short Sales, Auctions, Bankruptcy Sales,...
How to Hedge Against Inflation with Real Estate Investments
The Short Version: Real estate tends to appreciate at the same rate or faster than inflation over time. Property values and rental income often rise as prices increase, making it the best hedge against inflation. Unlike stocks or bonds, real estate provides tangible...
Mortgage and Rental Income: How to Finance Rental Properties When You’re Self-Employed
Financing real estate investments can be tricky when you're self-employed. Lenders look for consistent income, which is harder to show without a W-2. But getting a mortgage is very doable with the proper documentation verifying your earnings, plus preparation and...
Housing Bubble 2024: Are U.S. Housing Markets Crashing?
Remember the housing bubble, real estate market crash, and Great Recession in 2008? I do. It was an utter nightmare for me and millions of other property owners, representing the second-largest recession in American history, junior only to the Great Depression. Given...
NACA Loans: Can You House Hack with 0% Down Using the NACA Program?
The Neighborhood Assistance Corporation of America (NACA) is a nonprofit organization aimed at making homeownership affordable to underserved borrowers in lower-income communities. Its programs provide great perks like no down payments, closing costs, private mortgage...
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