Pros and cons of using an agent.
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[{"id": "f24obab", "text": "The benefits of an agent are that they can help ensure the property is leased at market, however, their commissions may eat up the difference between your thoughts on lease rate vs what the agent can get you.\n\nA lease agreement, generally, is a pretty simple document. A lawyer will get you, potentially, a better lease document with all the specifics to keep you and your sister protected - and also help setup a new LLC for your inherited properties. You should really do this if you haven\u2019t already. An agent will have seen many leases and will likely not charge you for lease edits/modifications.\n\nDepending on your risk appetite, I would probably have a lawyer and a broker go through this first lease signing. While it is fairly straight forward, you might forget something that opens you up to personal liability. You don\u2019t want that.\n\nI have one property. I used a real estate attorney, hired a broker to do a lease rate analysis for my property, and had my cpa coordinate with the attorney to setup the LLC. I could have done it myself, but chose to make sure this first deal was done right. I learned a lot in the process and look forward to the next deal.\n\nIANAL.", "replies": [], "depth": 1}]