I am a New Landlord, what do I do?

[John Se]

What is the name of your state? Arizona,
I am a new landlord, I own the house in my name.
1. Should I put the house into a LLC or other entity.
2. What is a source for a iron clad lease. (web site please).
3. What is the best way to screen tenants?
4. what other personal protections should I take?

My purpose for owning the house is simply to have the tenants pay it off for me, when I retire (about 20 years) sell it for cash or just keep the projected 2-3K monthly rental income.

 

[SkeeterBug]

go to this site for help

Go to mrlandlord.com they have all the help you need like forms, advice, forums and there is landlords with years of experience that can help you out. also please for your own protection go to a bookstore and purchase a landlord tenant law book and study the laws because ingorance of the law will not get you any where should a tenant sue you for not following the law

 

[Who's Liable?]

There are no Iron clad leases that will protect you from everything... You need a good lease that covers every aspect of being a Landlord... Eviction clause, Break lease clause, Late payment clause, etc...