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New Property or New Tenant Info -Land Contracts

New Property or New Tenant Info – what does it contain

When you are a landlord of a new property or else you have tenants who you want to lease the property to, there are certain things you must know and these are the new property or new tenant information.

Incase of a new property the name of the seller along with the social security number, the phone number and the date of birth of the seller needs to be mentioned. This needs to be done along with the details of whether the documents are all signed, the name of the trustee and the beneficiary, the details of the lender and the loan number along with the loan balance that is remaining. This needs to be added to the amount of the monthly loan payment and if this needs to be reinstated, the amount which needs to be reinstated.

Along with this are details of the insurance, is it escrowed, are there new insurance needs, will there be a refund, is the transfer informed to the mortgage company and are investor notes necessary and details of the investors and the loans.

Incase of new tenants the New Property or New Tenant Info consists of details of the name, number of the tenant as well as the details of the lease payments, the security deposits, the down payments and details of the amount deductible for repairs as well as if any utilities are taken in the name of the tenant. This needs to be mentioned along with the details of the services of the utilities, if it is stopped or continued.

 

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