New NJ Landlord questions

[Andrew McGregor]

Hi everyone, 

New to this community and the landlord business. I am about to rent a 1 bedroom unit of a 3 unit brownstone in Hoboken NJ. The other units are currently occupied by family members.

I just want to insure I am doing my due diligence, specifically:

- reccomendations on a good credit/background check company( was thinking Experian).

- specific stipulations for late payment charges/ eviction proceedings in rental agreement?

- should I open a separate bank account for direct deposit?

-should rental insurance paid by the renters be a requirement? 

Any other good recommendations and or NJ specific things to be wary of? 

Thank you in advance! 

-Andrew