Renting out my house what must I know before

amother

Tue, Jul 09 2019, 11:34 pm

Will make some sort of lease. Anything I should know that must be included or tips for me as 1st time landlord?

amother

Wine

Tue, Jul 09 2019, 11:45 pm

Check with the town if you need an inspection by the fire department. Inform your homeowner's insurance company that you have a tenant. (Your rates may go up, but if you need to make a claim and you haven't told them that the house is rented out, they can refuse to pay. Check your policy.)
Have a list of preferred repair people for the tenant.
Make sure the tenant pays for lawn maintenance.
Run a credit check on the tenant and ask for references. Specify how you want the rent to be paid. (Check, bank transfer)
Use a standard lease that you can get online. Take a month's rent as a deposit.

bobeli

Wed, Jul 10 2019, 12:00 am

Be nice and try to have a good relationship, specially if you know them from your community.
Tenants learn loads of things about the landlords while living in your house.
Make up in advance who pays for repairs, etc.