1. Make sure leasing is permitted in the community;
2. Get special insurance for landlords;
3. Check prospective tenant’s background for a small fee;
4. Get your lease in writing;
5. Know you cannot discriminate based on race, color, religion, sex, national origin, handicap, and familial status;
6. Do not delegate repairs to the tenant per Georgia law;
7. Prepare a lead-based paint disclosure for properties built before 1978;
8. You many want to follow state-required procedures on security deposits, move-in/move-out inspection forms, etc even if you are exempt by law;
9. Educate yourself on capital gains tax;
10. Consider professional property management which may be cheaper than you think.
If you have never rented a property before, these are some good points to consider. If you are looking to rent out your property and you could use the help of a professional for a hassle-free experience, please Contact Me.