Tuesday, June 22, 2010

Ready, Set, Rent

Last weekend we hit the beach.

I adore the beach.


What I'm not so fond of is lying on my towel and doing a mental checklist of our upcoming vacancies and what needs to be done for who to go where and how much was that check for and did I forget to cash it or was that the one that I spilled Vitamin Water all over?

It's just not as enjoyable as, say, doing the backstroke while guzzling a Bloody Mary.

Or, sipping, rather. I meant to write sipping.


The first thing I did when I got home was pull all of my files and begin going through my checklists for each property. In case you find yourself in the same predicament, I've corralled together a number of posts that address some of the key issues that you'll want to make sure you get out of the way with before handing your keys over to a tenant.

Which means more time for wave jumping and jet skiing and paddle balling. And back stroking.

And Bloody Mary's.

Sip. Sip. Siiiiiip.


Helpful Posts If You're Getting Ready To Rent

Read this if you're getting ready to purchase a rental property.

Read this if you're considering using a management company or curious about different ways to advertise.

Read this for tips about Home Owner's Associations and their rights and procedures for approving tenants.

Read this to learn about the types of information to request from your tenants on a lease application.

Read this for important notes to include in your lease agreements.

Read this list if your tenant has signed a lease and passed all background checks but not yet moved in.

Read this if you'd like to extend your lease with your current tenant.

Read this if your tenant moves in but stops paying rent.

And if all else fails, read this.


J and K said...

I'm bookmarking this page right now. And then I'm going to go make myself a drink.

Thank you, thank you, thank you!

Danielle and Clint said...

Honestly, who said ladies have to sip a bloody mary? Go ahead, girlfriend, glup that stuff down! You deserve it!

Brooke&Tyson said...

i feel so overwhelmed reading this post and i'm not even renting out homes! you are such a busy girl! please gulp...i mean sip... on some bloody marys this weekend and relax :)

The Rural Socialite said...

Very interesting! My friend (who is a realtor) recently told me that a new law in our state says that if a renter stops paying rent, you can simply change the locks and all of the belongings in the rental belong to the owner of the rental. I don't know if it's really that easy or if she was just trying to convince me to rent my house that won't sell. :o)

Kelly said...

Really, Rural? What state do you live in? Now I'm curious.

Cindy @The Flipping Couple said...

BOOKMARK. Kelly you're awesome. Can't wait until we're landlords. You know, because I like to worry about things and stay awake at night and NEVER RELAX EVER AGAIN. Now that I think about it, I'm not sure why I'm so excited about this whole thing.

Kelly said...

The benefits outweigh the headaches, FO SHO, Cindy. As long as you get decent tenants. And lots of vodka.

Decent vodka and lots of tenants is acceptable, as well.

Life in Rehab said...

Personally, I prefer to swill my bloody marys.

Excellent list.

Mary said...

Awww, you need a trip to the beach where you get to JUST relax!!! You owe it to yourself ;)

Kelly said...

Thanks, Mary. I'll be much more relaxed when we're past rental season!