A Dozen Tips for Writing a Residential Lease
If you are a landlord you want a well written lease that protects both you and your property. Here are twelve tips for writing a good, solid lease that will protect your investment.
Be sure you know your state law and any local ordinances that may affect your lease. Consult an attorney for the drafting of your lease after giving thought to the following suggestions.
Your lease should answer the following questions:
1. How much is the rent and all amounts due?
This sounds pretty basic but the total amount due from the tenant should be spelled out clearly. In my lease I require first month’s rent, last month’s rent, a security deposit, and a non-refundable pet depreciation fee. I show the total of all these amounts in a Summary of Amounts due. This way if I am ever in court, the judge can clearly see what is due. Judges don’t like to hunt through your lease to determine what the tenant owes you.