What Should You Include in a Rental Agreement

What Should You Include in a Rental Agreement

Even experienced landlords can benefit from taking a look at their rental terms from time to time, so let`s go over a few critical terms that you should include in yours. The lease must include all things for which the tenant is responsible and all things for which the landlord is responsible. The lease must contain all the rights and obligations of both parties. Occupancy rules and subletting rights are often subject to local legislation. You should consult a lawyer before deciding how to draft your agreement. Bonus item. After the departure of the tenant. Would you ever consider a tenant`s personal property as unpaid rent? In Utah, it is illegal for a landlord to confiscate a tenant`s property and charge rent for it. Some jurisdictions may consider the property abandoned and allow the landlord to dispose of the items. Utah requires a landlord to keep the tenant`s property for a short period of time and notifies the tenant and charges a storage fee for the expense. The key is to check your local laws and state in the lease what you want to do with the personal belongings that the tenant has left behind. A detailed contract is also in the best interest of your tenant as it allows them to better understand the terms of your rental. Most new landlords simply search the Internet for a standard lease that allows them to fill in the gaps.

This is not always a good idea, as a generic cannot take into account your specific region, tenant profile, preferences and other factors. To create the right document for your needs, take a look at what you should include in your lease here, including a number of often overlooked provisions. 9. Pets. If you don`t allow pets, make sure your rental or lease is clear on the matter. If you allow pets, you must specify special restrictions. B for example a limit on the size or number of pets, or the requirement that the tenant keep the yard free of animal waste. Landlords must refund deposits in whole or in part to their tenants, with a cheque and a letter explaining why the entire deposit is not refunded. See what information to include and what deductions are allowed. Conflicts are inevitable on your property. It can occur between the landlord and the tenant, or it can often occur between or among tenants. While you can`t predict what certain conflicts will be related to, you can create a process to manage conflicts.

This process should first specify how you will handle conflicts, and then it should also include steps to intensify mediation if the first steps do not work. Specify the fees and actions that will be taken if tenants violate these rules, and what happens after the first violation, second violation, etc. Whether you are drafting a rental or rental agreement, these terms and conditions are generally included. At Harrisburg Property Management Group, we provide comprehensive management services to homeowners who own and rent properties of all kinds. We can put you in touch with legal support if you are considering clauses that you, as the landlord, should include in a lease. If you`re wondering what to include in a lease, it`s a good sign that you can hire an experienced partner to help you with management. A lease is a document that acts as a contract between you and your tenant and defines the terms of the lease. You can have it written in a way that suits you, because you can decide what goes into the agreement. 3. Maintenance of premises.

The lease must stipulate that tenants are required to maintain the premises, comply with noise regulations and not change locks without your written consent. You must list the appliances (and any furniture, if any) that are part of the lease and note their condition and any other special considerations. Don`t expect a tenant to follow verbal requests, e.B parking in the driveway. All requirements must be specified in the rental agreement. Also note if the tenant or landlord is responsible for incidental costs. Take the time to clearly write down the details of your lease. However, it`s more important to look at your local rental market to understand rental prices to gauge what you might be able to charge. Setting a fair rent in the market ensures that your rent is competitive to attract tenants and maximize your results. Look at comparable properties in the area to understand how much rent is charged. Get as many data points as possible as these units compete with your property to attract quality tenants. Adjust your price based on factors such as the number of rooms, amenities offered, location, and unit size. But being complete with a lease is difficult.

So many things can happen during the term of a lease, and documenting them all would take hundreds of pages. Given your unique situation, there are some things that are often overlooked in leases that you should definitely consider. Other restrictions, such as a tenant`s right to sublet the property, move in roommates, or run a home-based business, should be included in your lease if necessary. However, keep in mind that there are limits to what you can include in your lease and you should be careful not to accidentally include an illegal clause. Setting your maintenance expectations in your lease will give you the proof you need in case your tenants damage or neglect your property. 2. Deposit Clause. Your lease should require the tenant to leave a deposit equal to one month`s rent or more, depending on the value of the facility and the cost of repairing in the event of a problem. Some states require the landlord to place the tenant`s deposit in a separate interest-bearing account and return the deposit plus interest to the tenant at the end of the lease, minus any damages. Make sure you understand the laws and regulations in your area and, to save time and money in the long run, ask your real estate lawyer to review your lease to make sure it complies with the law. Deposits can be a big problem if they are not managed properly.

Usually, housing laws cover everything from physical ownership to the terms of the rental agreement. But that`s not all you need to know. Keep in mind that the occupancy limits you set must comply with fair housing laws, so you should not refuse a family with children, for example, if you have the room to accommodate them. However, your lease must include some basic rental conditions. As a homeowner, you are usually responsible for maintenance and repairs. But what if damage caused directly by the tenant leads to maintenance and repair needs? For example, what happens if they break a device, break a window or clog a toilet? 7. Admission to rental properties. To avoid claims by the tenant of illegal entry or violation of personal rights, your rental or lease should clarify your legal right to access the property – for example, make repairs – and indicate how much notice you will give the tenant before entering. Tenant insurance is necessary for tenants to protect themselves and their personal belongings, so it`s no surprise that most landlords state that tenant insurance is required in their real estate lease.