I want to address another specific part of your question, even though quite some time has passed since it was posted, because the issue of deposits is one that is regulated by law in this state. In New Hampshire (and there are very few exceptions here) a landlord may charge a tenant one month's rent (first month) and a security deposit (not to exceed a month's worth of rent) when the lease agreement is initially created. Landlords may not charge additional money under the majority of circumstances. For example, in New Hampshire a landlord may not ask for the first month, last month, and security deposit up front. Additionally, a landlord may not ask for other deposits such as a pet deposit in addition to a security deposit equal to a month of rent and the first month of rent. If a landlord is asking for additional money, after a tenant already has a lease, I would advise contacting an attorney to find out if there are any exceptions to the law in New Hampshire that allow for that.
If you need any assistance or guidance concerning rentals or the rental process please feel free to contact me.
Anyway, another good piece of advice if you are a new person:
get yourself a great CPA!
make the building an LLC thru the state. example: 123 South Street becomes 123 South Street LLC for $100.00 per year.
reason and logic? IF the porch, as example, falls down from too may tenants celebrating say the 4th of July and several die. This keeps the survivors and other heirs from taking your house away. Sort of a firewall or stop gap to having troubles leap from one building to another.
You can see, I enjoy what I do. Good luck!
Someplace in the dialogue should be rents and security. Security deposits that should be in a separate account, with a bank number or routing number and account number and all of the security deposits.
IF you are a new, never owned income property, you want to get involved with NHPOA in Nashua/Manchester. They can also give you some sound advice.
My name is George Rauh, I am a seasoned 30 year plus landlord, and work for a property management company. Please feel free to stop in, coffee is hot, advice/conversation is always free.
The Resource Companies
445 Maple St.
Manchester NH 03103
How many units are there? Maybe rules are different with more than 4 units. Tim Dolan.