How did you approach the process of tenants?

Question

I have a couple of questions about starting to look for tenants and general questions about them.

• Do you have a lawyer draw up a solid lease agreement or do you do it yourself? Did you use a template for this?Where do you find these templates if so?
• Did you use a template for this?
• Where do you find these templates if so?
• Do you charge first and last months rent up front like most? Do you work with them are you more strict? (I guess can depend on the landlord, location, situation etc.)
• Do you work with them are you more strict? (I guess can depend on the landlord, location, situation etc.)
• Where have you found most success in finding quality tenants?Craigslist, Trulia, Zillow, Facebook?
• Craigslist, Trulia, Zillow, Facebook?

• Did you use a template for this?
• Where do you find these templates if so?

• Where do you find these templates if so?

• Do you work with them are you more strict? (I guess can depend on the landlord, location, situation etc.)

• Craigslist, Trulia, Zillow, Facebook?

I had a couple others, but am drawing a blank so I will ask them later.

Thanks!

Karl B. · Answer

Hello. My lease comes from my local Apartment Association. They included it for free when I joined and it's catered toward my local laws - very in-depth and good. If you have a local Apartment Association I'd urge you to join - lots of benefits.

I only charge first months rent and a security deposit. It's the standard to my local market; your local market might be different as in stronger rental markets landlords can get 1st month, last month and a security deposit.

Zillow Rental Manager tends to have the best qualified tenants but posting in local Facebook groups gets me the most responses (though a lot of the people who contact me apparently fail to read the rental qualification information as a lot don't meet the required credit score).

Nathan Gesner · Answer

You can buy a state-specific lease (and other forms) from BP. If you are a Pro member, these forms are available for free. They are all attorney approved.

You can find an attorney that specializes in real estate and get one from them but the BP version is probably cheaper and better.

You can scour the internet and find different ones from around the country, pick-and-choose your favorite parts, and then assemble your own. Even then you should have it reviewed by an attorney to verify it meets your state requirements. This was my process and it worked very well but was time-consuming.

Jared Chenel · Answer

@Karl B.

Thanks for the suggestions and feedback!