Ok new investor here who is in contract with my first rental hoping to close in a month. I have a few questions as I am researching landlording so much that I will not fail at it. Besides the landlord tenant lease document that they sign, what other documents must they sign before stepping into my rental. I want to make sure I have an idea of exactly what I need before so I waste no time getting someone in. I will already have pictures taken with the tenant and have them sign off on them. Other than that what documents do you usually have as a landlord besides an application and landlord tenant lease? thank you!
I highly recommend you get a local real estate attorney, well experienced in evictions, to write your lease. Do not just pick up a template at Office Max or Staples.
An attorney will be defending your lease in court when (not if) you have an eviction. Be sure he's the one who wrote it. They charge about $100 to give you a copy of their rental agreement and it's money well spent.
Lease, security deposit agreement, utility addendum, inspection forms, appliance addendum, information of tenant damages at move out, pet addendums. You want to make sure you cover ALL your bases.
Pay an attorney or have a reputable companies lease, make sure it is tailored to your state and not a generic form.
It amazes me sometimes when we take over property from an owner/landlord how many loopholes they have left due to lack of documentation.
Yes, I definitley have the site for CT laws and have looked at all the leases, and plan to factor in those. Also to save costs would it help to when I close on the house bring a copy of a lease I plan to write up (will take bits and pieces from multiple ones) and have him check it over quick? Thank you,
If you want a lawyer to review your lease (highly recommended) find a lawyer who specializes in landlord tenant law and pay him to do it. It should be a one hour job. No, I would not just show up at closing with a lease in hand and say "would you might looking this over while we're signing the documents".