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Updated almost 9 years ago on . Most recent reply

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32
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Lamar Thomas
  • Investor
  • Philadelphia, Pa
4
Votes |
32
Posts

Need advice with my first rental property

Lamar Thomas
  • Investor
  • Philadelphia, Pa
Posted

Ok so to start, I want to be efficient and effective at landlording/ managing  my property in Philadelphia as much as possible with minimum mistakes. However due to me reading forum post and hearing stories about tenants from hell, I have become nervous. I need my bigger pockets family help and advice on creating a great contract, what fees and deposit i should ask for, and the no(s) when screening my tenants. While I am not clueless, I believe my best bet would be to make my decision based off the advice and knowledge of long term tenants, professional, and others that are knowledgeable when it comes to landlording and managing properties.

Most Popular Reply

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643
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408
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Rich Baer
  • Real Estate Investment Attorney
  • Kingsville, MD
408
Votes |
643
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Rich Baer
  • Real Estate Investment Attorney
  • Kingsville, MD
Replied

@Lamar Thomas

My best advice is to make your building lead free before placing a tenant inside. You will sleep better.

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