hello all,
We just closed on 2 houses and are going to rent them out.But since we are still very new to rei,we wanted to know if anyone had suggestions or samples of a rental lease for home rental.We have been reading treads on this site since dec. but no one ever mentioned how much a pain in the butt the buying process could be(or maybe we just missed it).However this has been very informative for someone starting from 0.Any assistance would be greatly appreciated.
There is a book that includes all the paperwork necessary for most situations called Weekend Landlording. They are just fill in the blank documents. Please protect yourself and research necessary residential leasing laws in your state and perhaps even have an attorney draw up your paperwork for you… on speed dial would be a good idea too.
Good luck!
NOLO has a great must read bood called Landlord’s legal guide or something to that effect. It has cd rom blank leases, apps, move in and out letters, etc. Has state specific info on the legal aspects. It is a MUST for beginner landlords…Like ME!
TP :o
I would strongly suggest joining your local REIA. You need to learn the local landlording issues and can get leases from other local successful investors. Being a member of my local REIA has made me tens of thousands of dollars and has saved me from making mistakes that would have cost me tens of thousands of dollars.
If you think that someone forgot to mention how difficult the buying process can be, just wait until you start dealing with tenants!!! Become educated or you will pay the price.
Good Luck,
Mike
thanx for all the good advice we bought the weekend landlord and so everything is going fine we have 1 sect.8 tenant already in place and another with an application already in.