About to sign my FIRST TENANT… Advice? - Posted by Brandon Treat
Posted by Brandon Treat on September 23, 2001 at 10:54:55:
Good morning to everyone,
I am finally about to move in a tenant in a house that I am lease/optioning. As this is the first rental property I have and the first tenant I’ve ever dealt with I would love any advice the experienced ‘land-lords’ reading this might have for a first timer.
I will probably be using the standard ‘residential lease/rental agreement’ from the CS legal forms database. I have agreed to let the tenant spread the security deposit into the first three months, should I make special note of this in some way? I am also leaving 2 brand new ovens, 2 older refrigerators, and a washer and dryer with the property, the lease I’m using has a section to note all appliances included with the property and I will be sure to list them there, but any advice in this regard?
The tenants are an upper-20’s married couple with three children in my three-bedroom house. They have no pets, which I like but I hear in some cases children can be far more devastating to property…
My first couple impressions of the family are very positive, the adults are both ordained part-time ministers at a church they used to attend and are very devout Christians. The house I’m renting is in a decent sized ‘college town’ and I’m certainly more comfortable with the thought of a couple pastors maintaining my newly renovated (and costly!) home than a group of college kids but I still can’t help some of the thoughts that run through my mind.
I’ve been reading and participating on this forum for about two years now I suppose, and in that time I’ve read about quite a number of horror stories related to tenants and landlord situations. I know I have to have a little trust, and live securely with that through the lease and the rules I establish as the management, but I still worry…
In any case, any general recommendations in relation to a first time property manager would be highly appreciated. Any veterans out there that wished someone had told them a few things before they got their start, please tell to me!
Thank you in advance for your time,
Southern IL/St. Louis Investor