how to find a tenant

[Snoopy]

Hi Chrissy,
I recently purchase a two family home and was planning on renting one of the floors.....I'm new at this so I need advice on how to find a tenant.....How do I go about it? And when I do find someone, what do I need to ask them....do i need like a credit history, or references from work...or what....when do i take a deposit and when do i take a security....and how much am i suppose to ask for.....i need your advice.....please help.....

Thank you..

[chrissy]

Finding a resident may be as easy as asking friends, or placing a post card type ad in the grocery store bulletin board. Or, you may have to advertise in the paper. You need enough information to make you feel comfortable with their ability to pay their rent. You should, if your state law permits, take a deposit at the time they decide to rent to hold it for them until they move in. The amount is usually one to one and a half times the monthly rent, depending on state law.