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:
How One Couple Moved Abroad & Retired by 30 with Rentals
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11 Pros Reveal What They Wish They Knew About Investing
Real estate investments are expensive, even if you finance them. That means mistakes are expensive. I already shared some of the real estate investing lessons I wish I’d known when I was just starting out. So I figured I’d open it up to other professional real estate...
20 Questions to Ask Before Starting the Rental Application Process
Time is worth more than money. You can always earn more money, but your remaining time on this earth is limited – and more so every minute of every day. Which is probably why you became a landlord in the first place: to build passive income. And if you’ve been around...
How to Calculate Rental Property Cash Flow: Know Your ROI Before Investing
I cringe every time I hear a new rental investor say “Well the mortgage payment is only $1,000, and the rent is $1,300, so that’s a $300/month cash flow!” Sound the air raid siren, because that investor’s dreams are going to end in flames. How to calculate rental...
The 3-Step Strategy to Win Your Spouse Over to Real Estate Investing
When I first started dating my (now) wife, she saw me lose money on a real estate deal. As a first impression for real estate investing, it left a lot to be desired. And it’s been a long road since, in warming her to the enterprise of real estate investing. It’s a...
Rising Interest Rates and Real Estate: What’s Going to Happen?
Introduction to US interest rates: The US economy has entered a stage of quantitative tightening. This is characterized by a consistent increase in interest rates. According to the CME Group FedWatch Tool, the current interest rate is 200 – 225 basis points, and it is...
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