What to prepare for closing on a rental property

General Landlording & Rental Properties
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What to prepare for closing on a rental property

Leah Fisch
Long Island, NY · Member since 2015 · 21 posts · 5 votes

I'm about to close on my very first rental property and would love feedback/advice on how to prepare to ensure nothing is missed.

Here's what I have so far:

  • Created LLC
  • Bank account in name of LLC
  • Property Manager lined up
  • Attorney handling legal documents/aspect
  • Insurance discussions in progress

Is there anything else?

And on a total unrelated note. Is there a 'dress code' for closings? I'm totally planning to show up in 'nice' jeans/t-shirt/sneakers

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  • Kimberly H.
    Residential Real Estate Broker · Chicago Suburbs, IL · Member since 2013 · 1k+ posts · 594 votes
    10y

    If its a single family, start getting ideas of what landscapers will want to cut the grass. Get a real clear idea of what work you want done. Get contractors lined up to come out to quote a day or two after closing.

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