First Rental Ever. Any Advice?

[Lawrence Courtien]

I just got a lease signed for my first ever tenant. I am renting out a single-family home. The tenants move in two months from now.  Any advice for a new landlord?

[Josh Sedivy]

Congratulations on signing your first lease, Lawrence! That’s a huge milestone! Here are a few tips to help you get off to a great start as a new landlord:

1. Document Everything: Create a detailed move-in checklist with photos to record the property's condition. This will help prevent disputes when the lease ends.

2. Set Clear Expectations: Provide tenants with a welcome packet outlining policies (maintenance requests, rent payment methods, trash pickup schedule, etc.).

3. Screen Tenants Thoroughly: For leases, always run background, credit, and rental history checks. It’s better to wait for the right tenant than rush into a problem.

4. Plan for Repairs: Set aside a portion of the rent each month for maintenance. Things will break, and being prepared will reduce stress.

5. Stay Professional but Friendly: Be approachable and responsive, but keep communication professional. Put everything important in writing.

6. Know Your Local Laws: Stay informed on landlord-tenant laws in your area. Security deposit handling, eviction rules, notice periods, etc.
   
   I hope this helps!