Closing on first deal in a week

[Anthony Jones]

Good morning BP family, 

Happy to report that we are closing on our first deal next week.  Great 2 story townhome built in 2003, requiring only minor updates of windows and HVAC.  

Looking to get lease agreement and other services setup ASAP.  Would appreciate any suggestions or tips as a new landlord.  Excited to really get this journey started.  

[Michael Smythe]

You'll need to figure out the following:

1) Where to get Rental Application, preferably an online one.

2) Source for background checks

3) What documentation from applicants will you require?

4) How to screen applicants?

5) A lease that meets all federal, state & local requirements.

6) How will you collect rent?

7) What's your plan if tenant doesn't pay?

8) Eviction attorney contact

9) How will you handle pets?

10) Will you require renter's insurance?

and more...