Discussions

This will be the first time for me to rent out a property....any tips on how I go out about finding out regulations and the type of paperwork I need would be appreciate. I am likely looking at February 1st so I want to get my ducks in a row.

to The Residential Tenancies Board and get all necessary paper work and info from them.  
 
You can gets lots of info here:  
http://www.gov.mb.ca/cca/rtb/index.html

that is what I shall do. Kind of nervous about this and want to get the best renter I can. Thanks.

Make sure you check references. I check facebook too. Do a thorough condition assessment, take pictures of condition before your tenant moves in. You can get good documents from Residentioal Tanancies. Good luck.

Take applications first. Sort through them (the financial info, how long they have lived at each place etc may determine who you will rent to). Then once you have picked a few, only then show them the property. Many don't realize this is also how we weed out applicants, if you're too lazy to fill out an application, then you maybe too lazy to pay your rent, take care of the property etc.  
 
Many people call to look, then you waste your time when they never show. This helps as well as you know they are interested. Sometimes will show the home to all applicants at once or between certain hours (which you set), then they know they are not the only applicants.