Signing the Residential Lease Agreement

24.08.2009 | Author: eden | Posted in Property Management

A quality residential lease agreement outlines specifically what is expected from your tenant insuring that they treat the property as though it is their own.

If possible, the residential lease agreement should be read and explained to the tenant in person. It has more impact that way. After all, the residential lease agreement is an instruction manual for the landlord-tenant relationship in your rental property.

Before turning over a valuable asset for a mere one month security deposit, make sure the tenants understand and agree to all your terms. You’d be surprised at how many people are so eager to just sign the lease without bothering to read it. You can get a real idea of what these people will be like as tenants by how they respond to the terms in your lease.

Questions to ask yourself:

What does it tell you if the prospective tenant has a major problem with your late fee policy? That’s right, he expects to pay rent late.

What if the prospective tenant argues about being responsible for minor repairs?

Or balks at the cleaning charge?

What if they have a problem with a penalty for unauthorized occupants?

What if they have a problem with the default of payment clause, which outlines your rights to evict for nonpayment of rent?

You can undoubtedly learn a ton about a prospective tenant during the residential lease agreement signing.

Remember, the lease is not meant to be used as a weapon, it is a tool to protect yourself as a landlord and your property from tenants without integrity and take you far in preventing difficult situations from arising.

Make sure you protect yourself with a state specific and legal residential lease agreement.

Stirling Gardner (The Hollywood Landlord) is a writer and property management expert.

He consults for EZ Landlord Forms and loves it.

EZLandlordForms.com has your state’s specific residential lease agreement and free rental applications as well as every other landlord form you could ever need.

He highly recommends you check out the site when you get an opportunity. It will save you countless hours, dollars and headaches.

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