I'm about to purchase a new primary home and make my existing home into a rental. I'm in North Carolina. A few questions:
Where do I find leases to use?
How do you find quality tenets and screen them?
How much do you charge for deposit, pet deposits, application fee "credit check?
Do I need the home to be inspected before renting? It's NOT a section 8
Thanks in advance!
Welcome to BP. All your answers are in BP. Use the search feature and start researching and you'll find more than enough info to all your questions. There are many "right" answers. I'd recommend reading the forums and developing your own set of answers.
Rental agreements can be found on BP and really anywhere. If you have more $ than time, then I'd go thru an attorney.
Deposits can vary but the typical is 1 months rent.
Pet deposits vary as well. Could be an additional deposit or a monthly charge.
Application fee I charge at cost. I use myrental.com to screen clients. I also interview them in person to get a feel for them. If you don't want to take this path, go with a property mang.
Home inspections can very so I'm not sure I follow. I would take plenty of pictures and maybe a video before the tenant moves in. You may want to have a pest control inspection, tenants like to see that and it gives me peace of mind knowing nothing is there before they move in.