We will be renting for $950 month-to-month with a $400 security deposit.
The tenants sign an agreement before the end of the month to rent the condo.
Before the 1st
The tenant fills out a Rental Application and gives us a $200 check.
That check will either apply to the first months rent, or be forfeited if the tenants changes his mind.
On the 1st
- We do a walk-thru, write everything down thats wrong. They sign it.
   We don't have to fix anything. This will protect all parties.
  Any damage not mentioned on the walk-thru comes out of security deposit when the contract terminates.
- We collect $1,300 ($900 for the first months rent + $400 for the security deposit).
- We surrender the keys.
By the 5th
- You call Nevada Power and have them turn off service on the 5th or sooner if the tenants agree.
By the 15th
- You call your insurance, and tell them you need landlords insurance (?)
- You arrange to have the association, water, garbage, sewage, insurance and tax bills come to this address.
- I help set up autopay for all the bills
- I transfer the shared bills from this house (electric, water, gas,  garbage, sewage, insurance, telephone, internet, cable) to autopay from the joint account.
- We will match each others deposits of ($500 a month) into the joint account. I like to pay these kinds of things in bulk, so, I'll probably be popping in $6,000 per year.
In the event that they don't pay us $900 by the 5th of each month:
- On the 6th, we send them a 5 Day Pay or Quit notice to pay $900 with a $90 penalty by the 10th.
- If they don't pay us $990 by the 10th 
   __ We file the Five Day Notice to Pay o Quit,
   __ Certificate of Mailing
   __ Affidavit of Complaint of Summary Eviction
   __ Order for Summery Eviction and
   __ Instructions o the Constable with the Justice Court on 200 S Third Street.
   The clerk will give the Judge the documents, where he will sign an Order for Summay Eviction.
   He gives that to a Constable. The Constable will remove the tenants within 24 hours.
- At this point, they either pay us all money owed, or a constible seals the property on the 15th.
- We have the right to sell any of their possessions to satisfy their debt.
The Joint Account
- The joint account (not considering maintenance, income taxes, non rental periods) should grow at least $6,000 a year.
This will be our nest egg.
- All money in the account will be jointly owned, and should yeild approximately 2% interest a year.
- Should we decide to withdraw money for personal use, it will be subtracted from our 50% contributions.
- If it grows to a substantial amount of money, we can easily invest the excess in mutual funds, stocks or bonds online.