So you’ve decided to rent out your space. One of the most crucial aspects in a rental agreement is, well, the rental agreement itself. You MUST have a well-written and very detailed lease to avoid conflict with your future tenants later on. I know it may seem tedious, but the more detailed your agreement, the less likely you’ll face tenant problems in the future.
In this post I’ll give you a few tips on writing up your own lease agreement.
- Detail EVERYTHING. From the length of the contract to paying the utilities, it all needs to be extremely clear. For example, if you don’t want unauthorized people or pets in the space, write it into the agreement!
- Make sure that as the landlord you’ve described the condition of the home fairly.
- The lease should include the renter’s name and the landlord’s name.
- Maintenance and repair can be one of the most obnoxious parts of being a landlord so make sure to determine guidelines surrounding that topic. For example, if you want the tenant to replace their own light bulb, make sure it’s in the agreement.
- Remember, it never hurts to get a second opinion. If you think you’ve drafted the perfect lease, have someone else take a look and just make sure you didn’t leave any holes.
- Have everyone sign the agreement.
Follow these guidelines and you’ll be on your way to writing a great lease!
Have you ever written a lease that your renter broke? What steps did you take?
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