Landlord Question and Answer Forum

Good afternoon, I am planning on leasing my home for the first time. I have never run a business or leased any prperty, so I am a little intimidated. Is there any advise that you may have for me? I have printed off several forms from here, which have been very helpful. Starting with the application for the prospective tenants. What should I know in this bussiness?

Important---- Credit check , Lease state on it everything that is important, 30day or yearly, or pets , guests , smoking , swimming pools , take pictures inside and out, before they move in , Important LIABILITY INSURANCE,they fall down they cannot sue you. Who pays what utilities, the wrong tenant can cause you a lot of sleepless nights, Like I said,They will come in like Mary Poppins and leave like Jack the Ripper leaving your rugs burn't by butts and drywall looking like swiss cheese. one of the most important is credit check, what good is having a tenant that will not pay you.this weeds them out,do not give them a key unless they have the apartment, this certifys possession,and once this happends it takes a judge for you to get your place back, Do not take shortcuts, checklist with new tenant have the people sign off on condition of place, pets are nice but they ruin rugs and chew wood moldings , smokers stain walls , ceilings and curtains as well as furniture Cautious Game

Posted by Donald G, MA on Sunday, June 6, 2010