Updated over 4 years ago on . Most recent reply
Need Advice on First Time land lording!
Hello BP, So Last week I posted about a potential Investment Property. Well Good News is that I am under contract and loan is in process for my first buy and hold property!!! I will need to do a little bit of rehab, but it will be ok. So now I am trying to get some help with land lording. I Know that I have to screen my tenants thoroughly. The property is a 3/2 house and will be listed for rent @ 1600/month. I know every market is different, but I was wanting to know things like, what should be included in rent? How much security deposit should I charge? Do I pay any Utilities? Should I include free WIFI? Alarm Service? Do I provide washer/dryer or do the tenants? Do I maintain lawn or tenants? Pet Fee? Should I rent out 20'x20' storage shed in back? If so How much? Any advice helps. Thanks