Author Topic: Seeking advice on payment and leasing contract options  (Read 807 times)

MacGyverIt

  • Stubble
  • **
  • Posts: 233
  • Location: Not in a tropical, underpopulated location. And that's just wrong.
  • What Would MacGyver Do?
Seeking advice on payment and leasing contract options
« on: October 29, 2014, 10:22:24 AM »
Team MMM,

I'm planning to rent my place out in April and this will be my first land lording experience. Excited to know I'll clear a minimum of $750 a month on the place after mortgage and HoA is covered!! (Was amazed to read when this is a rental, the HoA is a business expense...) I work for a huge company and have three prospective renters already which would be great as these are folks with reliable jobs/good income.

I'm doing the research on taxation, land lording, property owner's rights and whatnot. Found a like of great info here, thank you! Two things I haven't found in my forum searches are:

1. What Internet-based payment mechanisms do you use for your rentals? I'm looking at SparkRent by Intuit (https://www.sparkrent.com/ ); it's only $1 per transaction and it'll tie in to my TurboTax account come tax time. Any experience with this payment system or any other online payment systems that you recommend?

2.  Where do you buy your leasing contract forms? There are all kinds of forms online but curious if you have a recommended lease format. If you aren't happy with all the items on the form, is it as easy as typing up an addendum to cover items such as "no smoking, renter pays for pet damage", etc.? I like what I see on EZ Landlord Forms https://www.ezlandlordforms.com/, esp you can have state-specific features included.

Appreciate any input and advice.

- Mac
« Last Edit: October 29, 2014, 10:47:25 AM by MacGyverIt »