Landlord Lease Agreement – What Do You Need To Include In It?
What should be included in a landlord lease agreement? If you are renting out property it is critical that this agreement includes a number of items and information. Both the landlord and tenant should be clearly identified by name, address, and phone number. If you want to know how to become a landlord this form is an essential part of this. A landlord lease agreement will also need to identify the rental amount and the start and end dates of the rental period. The amount of the security deposit should be specified, as well as the account where the security deposit will be held.
Real estate investing can include numerous mistakes, many of which revolve around the rental agreement. When you are completing the landlord lease agreement this form should specify whether or not pets are allowed, and if so what types of animals are acceptable. Any fees charged for late payments or payments returned for non sufficient funds should also be outlined. If a landlord background check will be performed this should be specified as well. You should also have a section which specifies all of the utilities, and who is responsible for paying these expenses. Snow removal, yard maintenance, and other chores should also be detailed, as well as the responsible party.
If a landlord credit check is not performed then you may choose to include this requirement in the lease, but it is a big mistake not to perform this step before choosing the right tenant. The landlord lease agreement needs to specify if any legal fees will be charged, and what these fees will consist of as well. If a condition or detail is not mentioned in this agreement then it will not be considered by the courts, so you should make sure you include even the smallest rental details in this contract. You may also want to include information about any landlord insurance policy, and exactly what this policy will and will not cover.