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:
Ep. #123: Patrick Grimes on Asset Protection, SDIRAs, & Advanced Real Estate Investing
As the founder and CEO of Invest on Main Street, Patrick Grimes has been around the proverbial block. He has over fourteen years of experience in active real estate investment, purchasing distressed assets, renovating, and stabilizing for long-term cash flow. His...
Savings Rate: How Much of Your Paycheck Should You Save to Retire Early?
No matter how much you earn, you won’t build wealth if you spend every penny you bring in. A person who earns $75,000 and saves $25,000 per year will create wealth faster than someone who earns $1,000,000 and spends $995,000 of it. Flashy cars and imposing homes may...
Saver’s Tax Credit: Score Extra Savings on Your Tax Bill
We talk all the time about investing in real estate to reach financial independence and maybe even retire early. But where does the money come from to invest? Unless you're an heiress or a lottery winner, it comes from your own savings rate. If your income falls under...
Repairs vs. Capital Improvements to Rental Properties: How Are Each Taxed?
Every landlord must carry out regular maintenance and repairs to keep their rental properties habitable. Fixing a faulty faucet, AC unit repair, or painting the property are all part of a landlord’s job description. In contrast, capital improvements boost the property...
How Much Do You Lose Selling a Property As Is?
Sure, it's easier to sell your home or investment property as-is. But you can also expect a lower sales price, and usually a lower profit. Learn how much you can lose selling a house as-is. There are plenty of reasons to sell your home quickly. Maybe you inherited a...
Visualizing Real Estate Cash Flow
Real estate cash flow is not about what happens in a “normal” month. In a “normal” month, your expenses will probably be minimal. And then a not-so-normal month hits, and you get slapped with a $2,500 expense. So when rental investors forecast real estate cash flow,...
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