What to Know Before Becoming a Landlord for the First Time | Managing Rentals Guide

Becoming a landlord for the first time? Check out what Soli Cayetano, a real estate investor and founder of Lattes & Leases, has to share on managing rentals and what she wishes she knew before starting.
Get started with Avail landlord software at bit.ly/3VIQWQk
*Resources*
Access resources for landlords: bit.ly/3UsLGzd
Explore our library of educational articles: bit.ly/3Uq7sUj
Connect with other landlords: bit.ly/3PbcVxv
Research local landlord-tenant laws: bit.ly/3F11xj3
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*Timestamps*
00:22 - The Basics of Becoming a Landlord
00:27 - Step 1: Registering Your Rental Property
01:11 - Step 2: Tenant Screening
02:21 - Step 3: Lease Agreements
04:19 - Step 4: Rent Collection
05:36 - What Soli Wishes She Knew Before Starting
8:17 - Where to Connect With Avail and Soli
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Becoming a first-time landlord can feel daunting, but the key to successfully managing rentals is knowing what to look for and what to avoid when first starting out.
To help guide you along the process, Soli shared the following information:
- Check local landlord-tenant laws to verify if you need a rental registry before renting your property to tenants. If so, prepare to share information on your rental property and yourself as the landlord.
- Establish tenant screening criteria that abide by Fair Housing laws. It’s also important to note that some states may limit what screening reports you can request from tenants, so check what reports you can request from prospective tenants.
- Protect your rental by having a state-specific, lawyer-reviewed lease agreement. Platforms like Avail make it easy to create legally-binding lease agreements.
- Use the proper rent collection tools to help streamline the process and receive the proper tax documentation for tax season.
Here’s a summary of the additional tips she provided:
- Avoid becoming friends with tenants, but work on having a good landlord-tenant relationship.
- Be mindful of how often you visit your tenants without giving any notice to avoid violating their renter’s rights and negatively impacting their renting experience.
- Have a process in place to address maintenance issues fast.
- Research security deposit laws before collecting them to ensure you follow proper procedures.
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*About Avail (part of Realtor.com®)*
Avail (part of Realtor.com®) provides landlords and their tenants the rental experience they deserve. Avail property management software provides automation tools that make it easy to self-manage rental properties.
Use Avail to advertise your rental, screen tenants, collect rent online, access lawyer-reviewed lease templates, e-sign leases, streamline rental property accounting, and more - all online.
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*Connect With Soli Cayetano*
Website: bit.ly/3XV84UM
Instagram: bit.ly/3gTmcgH
Facebook: bit.ly/3VITbTK
Tik Tok: bit.ly/3FnSOJ9
#firsttimelandlord #managingrentals #propertymanagement #landlordtips

[@BoogerDeluxe22]

The first tip I had no idea about. Thanks!

[@AvailCo]

So happy to hear!

[@tessiechu6785]

Thanks for the info. Need to apply all these tips

[@jrojas4365]

Intelligent and beautiful. You just have a new subscriber. Good info.👍

[@nita8333]

Good info

[@AvailCo]

Glad it was helpful!

[@Real3statePH]

can people outside the US use avail?

[@AvailCo]

Hi there! I am glad you were able to find our software and certainly wish we could assist you. Unfortunately, we currently only support listings for addresses within the 50 United States and Washington DC.