All Forum Posts by: JD Krashovic

As I look into purchasing my first rental property (a SFH), what is the process of setting the property up as a rental? I am mostly wondering about the legal documents and things like insurance. It would be great if someone can list the process. My main questions are along the lines of:

1. Do I need some kind of "landlord insurance"?

2. Do I need some kind of property inspection to prove the property is in good condition so I will be protected if my tenant gets injured in my property?

3. I assume the property should be in an LLC or perhaps a Trust, correct?

4. Which documents besides a lease agreement does the tenant need to sign, or does the lease agreement include everything?

5. Is there a type of lawyer who can ensure everything is setup correct and that the way I market my property fits within current marketing laws?

Thanks. Aren't there places, near universities for example, which will only rent to students? Isn't this the same thing? I didn't think that profession or employer were protected classes.

Protected classes are race, color, religion, national origin, sex, disability, and familial status. So how does only renting to doctors or only renting to employees of the hospital fall into one of these classes?

Specific question regarding fair housing. Let's say I work as a doctor in a local hospital and I decide to start investing in real estate. I purchase a duplex that is near my hospital with the idea that it would be perfect for someone who also works at that hospital. Can I market and rent only to people that work at the hospital? Can I make "working at the hospital" a requirement for renting my property?