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:
Cap Rates in Real Estate Investing: A Non-Nerd’s Guide
Not a big ol’ nerd for personal finance and real estate like I am? No sweat. We’ll keep the math simple. After all, math is a lot more fun when you’re calculating your future riches, right? Break out a cocktail napkin (and a cocktail to match), because calculating cap...
Ep. #41 With Cap Rates Down, Should You Invest in Real Estate?
Nationwide, home prices are up nearly 11% over the last year. But rents are up less than 1%, and in many of the largest cities they've dropped 5-10%. Which means rental returns and cap rates are dropping in most markets. Should you keep investing in rental properties?...
Ep. #40 How to Retire in Your 30s w/Guest Rick Orford
Who wants to wait until their 60s to retire? Brian sits down with Rick Orford of The Financially Independent Millennial to discuss exactly how he retired in his 30s and moved to Italy. We talk about how he started, grew, and sold two businesses, how he blew most of...
Ep. 39: 4 Alternative Ways to Get Rid of a Bad Tenant (Other than Eviction)
In the midst of the ongoing eviction moratorium, many landlords have asked us: How can I get rid of a bad tenant, if not through eviction? Deni and Brian walk through four alternatives to the formal eviction process, to remove bad tenants. As a reminder, landlords...
Ep. 38: How to Tenant-Proof Your Rentals to Reduce Repairs
Tenants are hell on your rental properties. Repairs and maintenance costs typically amount to 10-15% of the gross rents landlord receive, averaged over time. To keep that figure as low as possible, you want to "tenant-proof" your rental properties as much as possible....
Can Money Buy Happiness? Exploring 11 Ways to Lasting Joy
Average people love to say “money can’t buy happiness.” They’re not only wrong, they’re deluding themselves — and probably not very happy. Many of the same blowhards lob around cliches like “money is the root of all evil.” Guess what? Lack of money is the true root of...
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