If you’ve ever heard someone talk about owning rental property and thought, That sounds interesting… but I have no idea where to start or if I can do it, you’re in the right place.

I bought my first townhome at 26 fully expecting to live there for a few years, then sell it once life changed. Becoming a landlord was never part of the original plan.

My boyfriend at the time (now husband) suggested I consider keeping it as a rental. Honestly, it felt overwhelming. I didn’t know where to start, what systems I needed, how much work it would be on top of my full-time job, or whether it would be worth it.

But once I learned more about real estate investing and took the first step, everything changed.

Seven years later, we’ve grown from one unplanned rental to five self-managed properties—all while working full-time jobs and raising a family.

The good news? You do not need to know everything on day one.

You just need a repeatable system.

This first-time landlord checklist will walk you through the 10 steps I’d focus on if I were starting again today.

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Step 1: Understand Legal Requirements First

Before listing your property or accepting a tenant, spend time learning the landlord-tenant laws that apply to your rental.

This usually includes:

• • Security deposit rules and timelines

• • Notice requirements for entry or non-renewal

• • Fair housing laws and protected classes

• • Service animal and emotional support animal rules

• • Habitability and safety standards

• • Local rental permit or inspection requirements

Every city is different. I’ve had properties with different permit processes, inspections, and filing requirements. Never assume rules are the same everywhere.

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Step 2: Set Up Your Landlord Business

Even if you only own one rental, treat it like a business from the beginning.

Consider setting up:

• • Business structure (LLC, sole proprietorship, etc.)

• • EIN for banking and taxes

• • Separate business checking account

• • Business savings account for repairs and vacancy reserves

• • Dedicated business email

• • Business credit card for expenses

Keeping finances separate makes bookkeeping, taxes, and decision-making much easier. 

Spending time creating a logo, website, branding, or marketing materials is not necessary right now. Seven years and five properties in, I still don’t have any of that. 

When money mixes between personal and rental accounts, things get messy fast. Clean systems from the get go save time later.

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Step 3: Prepare the Property for Rent

A clean, functional, move-in ready property attracts quality applicants and fewer headaches.

Before listing, complete:

• • Wall and trim repairs

• • Paint touch-ups

• • Replace burnt light bulbs

• • Change furnace filter

• • Test smoke/carbon monoxide detectors

• • Check doors for loose hinges

• • Re-key locks or update codes to doors and garage

• • Confirm appliances and plumbing work properly

• • Deep cleaning

• • Carpet cleaning 

We always opt for professional carpet cleaning between tenants—it makes a huge difference in how the property looks, smells, and feels, and it helps extend the lifespan of the carpet.

My Favorite Rental Turnover Supplies

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Step 4: Price the Rent Correctly

Pricing matters more than most first-time landlords realize.

Too high = less interest and longer vacancy.
Too low = income left on the table.

Research similar rentals nearby by comparing:

• • Location and commute access

• • Bedrooms/bathrooms

• • Square footage

• • Garage/parking

• • Yard or outdoor space

• • Updates and finishes

• • Pet friendliness

If your listing gets views but very few serious leads, pricing may be the issue. It’s much easier to lower the rent rate than to raise it during the marketing process.

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Step 5: Market Your Rental Effectively

Once the property is ready, it’s time to attract strong applicants.

Focus on:

• • Bright, high-quality listing photos

• • Clear availability date

• • Best features of the home

• • Lease term length

• • Rent amount and deposit

• • Pet policy

• • Utility responsibilities

• • Neighborhood highlights

I always include the available move-in date in both the platform fields and the listing description. You’d be surprised at how many people reach out with mismatched timing. This can help save time by filtering out mismatched inquiries early.

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Step 6: Screen Applicants Consistently

This is one of the most important steps in the entire process.

Have clear criteria before applications arrive and apply them consistently.

Common screening criteria may include:

• • Income minimum (many use 3x monthly rent)

• • Credit standards

• • Rental history

• • Background checks

• • Occupancy limits based on local law

I used to schedule tours with almost anyone who asked, thinking if I got them in the door I’d be more likely to get an application. It wasted a lot of time with non-serious or mismatched leads.

Now I pre-screen first, then schedule showings.

Questions I Ask Prior Landlords in Reference Checks

• • Can you confirm [tenants] live at [property]?

• • Did they pay rent on time?

• • Any lease violations?

• • Would you rent to them again?

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Step 7: Sign the Lease and Collect Funds

Once you select a qualified applicant, move quickly and professionally.

Complete:

• • Lease agreement signed by all adults

• • Security deposit collected

• • First month’s rent collected

• • Prorated rent if applicable

• • Pet deposit/fees if applicable

• • Future recurring rent schedule set up

Lease Terms to Consider:

• • Late fee policy

• • Utility transfer fees

• • Maintenance expectations

• • Lawn/snow responsibilities

• • Pet rules

• • Entry notice procedures

• • Filter replacement responsibilities

• • Smoking policy

• • Grilling policy 

• • Shared amenity rules if applicable

I require move-in funds to be received within one week of the lease being signed. It keeps momentum and confirms seriousness.

I use Apartments.com for marketing, screening tenants, lease creation, signatures, payments, and maintenance requests at no cost to me.

The Pet Addendum I use for all my properties.

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Step 8: Create a Smooth Move-In System

A strong move-in process sets the tone for the lease.

Prepare:

• • Utility setup instructions

• • Key handoff process

• • Garage/opener codes

• • Mailbox info

• • Maintenance request instructions

• • Move-in inspection checklist

• • Welcome email

I like to send move-in instructions two months in advance of the lease start date to allow tenants ample time to set up utilities, and then follow up again the week of move-in.

Shop my customizable Tenant Lease Information Guide for simplified move-in preparation.

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Step 9: Manage the Property with Ease

Good management is mostly consistency.

Your monthly responsibilities may include:

• • Collect rent

• • Respond to maintenance requests

• • Coordinate vendors for repairs

• • Save receipts

• • Track expenses

• • Communicate professionally

• • Enforce lease terms consistently

Most months are quiet. Good systems make rental ownership much less stressful than people assume.

Keeping the books current each month saves huge amounts of time during tax season and makes receipts much easier to find.

• Free Download: Rental Expense & Income Tracking Spreadsheet

• Or track expenses using Apartments.com.

Responding promptly to maintenance requests also increases tenant satisfaction and the likelihood of lease renewals.

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Step 10: Plan for Renewals and Move-Outs

Vacancy is expensive. Planning ahead matters.

For Renewals

Reach out early to ask about plans and discuss any lease updates or rent changes. 

Prepare:

• • Lease renewal document for signatures

• • Update recurring rent amount 

For Move-Outs

Use a clear checklist that covers:

• • Cleaning expectations

• • Utility shutoff timing

• • Key return instructions

• • Mail forwarding reminder

• • Forwarding address for security deposit 

• • Inspection timeline

Document conditions carefully and follow all security deposit laws.

Lease renewals are landlord gold. Keeping great tenants is often better than chasing top-dollar rent with turnover and vacancy. I still believe in increasing rent appropriately over time, but reliable tenants who care for the property are incredibly valuable. 

With my 12-month lease terms, I typically reach out around months 6–7 so I have plenty of time to market the property if needed.

Shop these related resources I use for my property management:

• Move-Out Checklist 
• Security Deposit Itemization Statement 
• Rental Inspection Form

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Final Thoughts

Owning rentals has changed my family’s financial future and sparked a passion I never expected to find. 

Like any job, there are definitely times that feel overwhelming–maintenance calls, tenant turnover seasons, learning curves, and unexpected situations. 

But most of the year, with good systems in place, you’ll be able to roll with the punches and become more confident with every lease cycle. 

You do not need to know everything before you begin or you may hold yourself back from ever beginning. 

You just need to take the first smart step.

If you’re considering becoming a landlord, I hope this checklist gives you the confidence to start building long-term wealth for yourself and your family. 

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Want the Printable Version?

Download my First-Time Landlord Starter Checklist + templates here.

A Resource I Wish I Had When I Started

Many of the templates and systems I use today were created through years of managing rental properties, learning from experience, and refining my processes along the way.

To help other landlords get started faster, I’ve bundled together the editable forms, spreadsheets, and communication templates I use in my own rental business. The bundle includes everything from rental applications and tenant communication templates to inspection reports, expense trackers, move-out forms, and more.

If you’re looking to build organized systems from day one, you can check out the Landlord Starter Bundle here.

• Landlord Starter Bundle