Re: Show of hands, please.......... - Landlord Forum thread

Re: Show of hands, please.......... by Nick (OH) on November 1, 2009 @11:15

I am so new I've not even had the tenant move in yet.

BTW: Thank you all very much for your advice to my earlier posting.
I will try to take better control with the new tenants.
Is there any other advice like a lease I should use or any special forms?
Free would be best. I don't want to spend money on anything I don't have to.

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Re: Show of hands, please.......... by Ultimate M-Bone on November 1, 2009 @11:35

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Alright Nick, for starters, you need to learn a few things before you make mistakes that is going to cost you a whole lot more than what little bit of money you are not willing to part with now.

Get over to the forms, some are free, some are for a nominal fee. Try seeing how much you will pay a lawyer to draft up a lease for you. Better yet, just pay for a 1 or 2 years membership here and get all the forms free. You will never regret spending a little bit of money that will save you thousands later, not to mention so many headaches and frustration from PITA tenants like one you were about to give your place to. Before you sign any tenant into one of your rentals, spend some time here reading back through the forum, you will learn so much and be prepared to know what to expect when dealing with certain tenants and situations.
Don't ever, look for the cheap way out in this business when it comes to having the forms you need to protect your investment and yourself. Also read up on all the landlord/tenant laws, learn the eviction proceedures now before you have to face one, sit in on court cases to learn. I have a feeling you will not want to hire a lawyer when the time comes. I promise you if you make one little minor mistake on the forms and filings, you will start over again a a month later.

So did you choose to invest in rentals or are you a forced landlord as a result of having a home that you can't sell in this market?

Re: Show of hands, please.......... by Jack Klein (NY) on November 1, 2009 @13:41

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Nick, I have to agree with Monica.
Get to the Essential Forms page ----->
and start reading about them.

You don't have to buy them all. You can save $ and just buy a lease.
Just read about them and learn what you can do. You have an incredible advantage with all this info at your fingertips.

Tip: If you are going to buy more than 1 or 2 forms at the retail price, you might as well get a membership with all the forms included.

Re: Show of hands, please.......... by Ultimate M-Bone on November 1, 2009 @14:05	[ Reply ]
Please, tell me you did not let them move in. If you did and they gave you a check, take it to their bank to cash it so you know right away if it's good or not. If you deposit a bad check into your account, it could be 2 weeks before you find out it was bad plus cost you a bad check fee from your bank.

Re: Show of hands, please.......... by Nick (OH) on November 1, 2009 @15:50

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I told them they would need cash b4 they get the keys.

I also said I am handicapped and will not help them with their moving. That is not my job.

Thank you very much for your helpfulness and good advice.

Re: Show of hands, please.......... by Ultimate M-Bone on November 1, 2009 @16:06	[ Reply ]
Oh good, I feel relieved. Also, have in your rental agreement that they are to pay with cash, money order or a bank check, after 6 months they may pay by personal check until the first check is dishonored, after wards no other persoanl checks will be accepeted regardless of cause.

Re: Show of hands, please..........