RE: First time landlord.
Anthony, what happends if she falls on your property and breaks her leg and cannot work?
Posted by
Donald G, MA
on
Sunday, March 14, 2010
RE: First time landlord.
Donald what do i need to do? This is why I'm writing this for suggestions and the proper forms i need to consider. thanks for your reply..
Posted by
Anthony F, FL
on
Sunday, March 14, 2010
RE: First time landlord.
Anthony first and formost , credit check and back ground check , a tenant can make you broke if he cannot pay you, a credit will weed bad tenants off. Liability insurance if some one gets hurt they cannot sue you. Make sure all your building codes are up to date. Take pictures of your place in case of damages done, walk thru with tenant and have a checklist and have them sign off .
Posted by
Donald G, MA
on
Monday, March 15, 2010
RE: First time landlord.
Anthony first and formost , credit check and back ground check , a tenant can make you broke if he cannot pay you, a credit will weed bad tenants off. Liability insurance if some one gets hurt they cannot sue you. Make sure all your building codes are up to date. Take pictures of your place in case of damages done, walk thru with tenant and have a checklist and have them sign off .
Posted by
Donald G, MA
on
Monday, March 15, 2010
RE: First time landlord.
also what about pets , some insurance companies will not cover you on some dogs , they urinate , and scratch moldings , how about smokers, they yellow shades couchs and wall s and carpets How about parking and a lease or month to month lease what do you need . check with a library and get your tenant laws for your state.Get the movie Pacific Height if you can , renting can be rewarding but a little education can save you a lot of grief.
Posted by
Donald G, MA
on
Monday, March 15, 2010
RE: First time landlord.
You need it all in your tenancy agreement when the rent is due , what amount , who is going to live there , that is your contract, Ihad a person fill out a application for a place and one of the questions was please state your last landlord ,it was'nt even his landlord but a relative. It can be a hassle if you get the wrong people in the place . They come in like Mary Poppin's and leave like Jack the Ripper. Do not give anyone a key because then they have possession of your rental. and usually only a judges decision can give it back to you. The key is a good tenant. and these are trying times right now.
Posted by
Donald G, MA
on
Monday, March 15, 2010
RE: First time landlord.
Go to the library and read up on tenant laws ,it will open up your eyes. In your tennancy agreement have everything stated because that is the rules of the house, Be cause I did not state swimming pool in one tenant put one in which is really a code violation because there was no fence. tenancy at will is usually 30 days you can give them a notice to move, a lease is usually a year if they do not break rule they have to stay a year and then you can evict them
Posted by
Donald G, MA
on
Monday, March 15, 2010
RE: First time landlord.
Hi Anthony, I would have her sign a 3 month lease stating the terms. Also, it’s good business practice to carry liability insurance on the property as well as an Umbrella Insurance policy to protect your other property. Check with your insurance agent.
Posted by
Stan M, CA
on
Monday, March 15, 2010
RE: First time landlord.
thanks to everyone and great advice for that matter.. DO i need a seperate liability policy? or the tenet has there own rental insurance which will cover liability..
Well being that it was a quick move in i knew she would pay because my GF works with her and only a written agreement was written and signed for 3 months.. As stated in my first post if she decides to stay longer or if anyones else moves in they will have renters insurance insurance, and this lease agreement from this website about tenancys.
I guess i should contact my agent about liability insurance and see what the best route is to take.. and i will not allow pets either..
More comments the better.. Thank you
Posted by
Anthony F, FL
on
Monday, March 15, 2010
RE: First time landlord.
thanks again Donald... You have been a great help..
Posted by
Anthony F, FL
on
Monday, March 15, 2010
RE: First time landlord.
Anthony ,, also smoke detectors and carbonmonoxide testers . What happends is there are scammers and they will look how to get out of paying the rent , They know the code s better than you, Some will not answer the phone, by the time the eviction goes thru it can be 6 months without rent, do not get friendly but keep it a business like atmosphere. You have to have tough skin to being a landlord.Alawyer can be exspensive.
Posted by
Donald G, MA
on
Tuesday, March 16, 2010
RE: First time landlord.
Thanks Donald, I spoke with the tenet today letting her know that if she decides to stay another 3 months that a more formal lease will be written up and signed. She was fine with that. I really hope they can stay. I know its been only 3 months but they have paid on time and not really bothering me with little things..
Any other advice i should ad to my lease that isn't on there? I do need to ad a few smoke detectors.
Thanks
Tony
Posted by
Anthony F, FL
on
Tuesday, March 16, 2010
RE: First time landlord.
guests that become permanant? who is on the lease , no clutter in common areas , no alterations of any kind of living conditionsinside or out. How many cars in driveway. no illegal activity
Posted by
Donald G, MA
on
Tuesday, March 16, 2010
RE: First time landlord.
Thanks Donald... These are all very valuable tips.. I appreciate it..
Posted by
Anthony F, FL
on
Tuesday, March 16, 2010
RE: First time landlord.
My tenet is going to stay another 3 months starting April 5th. I understand about the renters insurance but do i go through my home insurance policy or contact another agent?
Posted by
Anthony F, FL
on
Friday, April 2, 2010
RE: First time landlord.
Anthony , renters insurance is needed by the tenant , Liability and fire is needed by you on the rental .
Posted by
Donald G, MA
on
Saturday, April 3, 2010
RE: First time landlord.
Donald my home owners insurance has the liability and fire correct? and i should be covered
Thanks again
Tony
Posted by
Anthony F, FL
on
Saturday, April 3, 2010