Lease Agreement Template Resources and Rental Tips

A lease is an agreement between landlord and tenant that conveys a property to tenant for a fee and for a defined duration. A well-written lease bodes well for a favorable relationship between landlord and tenant as it protects the rights of both parties. More and more, landlords are using a lease agreement template to generate rental contracts suitable for their needs.

State and local laws pertaining to landlord and tenant relationships are clear on the basic information that should be part of a standard lease agreement. In some states, a written lease is not required to lease a property. However, common sense dictates that a written agreement should be the basis of landlord and tenant interaction because legally renting real estate is a complicated transaction involving many details.

Understandably, a lot of personal information is collected and recorded in processing a lease. Usually, the landlord of residential properties will require the name, social security numbers and driver’s license numbers of all adults who will be occupying unit. In some states, all the adults named in the lease are equally responsible for the rent and any charges that may accrue during the lease term. Although landlords are allowed to list the names of minors accompanying the adult renters, social security numbers and other identifying information of these minors should not be collected and recorded.

Continue Reading »

Landlords have a genuine opportunity to make a significant income from rental investment property. Investing in a rental house or apartment unit to lease to tenants can provide an on-going, steady source of income and the landlord will also have the benefit of having property assets that can increase in value over the years. Because the landlord’s income flow is dependent upon the property being maintained and taken care of, it is important for the landlord to use a lease agreement template and include a security deposit in the lease.

What is the Purpose of a Security Deposit?

A security deposit protects the landlord in the effect that if property is damaged in the rental home, the deposit can help to offset the cost of repairing the damage. In addition to this, a security deposit also is a guarantee the landlord receives rent if the tenant leaves the rental agreement without the agreed upon notice. If the tenant skips out and does not pay the last month’s rent, the landlord can keep the security deposit. If the tenant fulfills the lease agreement template, gives proper notice of moving out, and leaves the home in good condition, the landlord refunds the deposit. A lease agreement template can provide a professional contract form to include the amount and conditions of the security deposit.
Continue Reading »

It is wise for landlords to have a lease agreement template in order to readily produce commercial lease contracts. A commercial lease agreement is a binding written document that expresses the contract between a property owner and tenant. Included in the lease agreement are the conditions, obligations and regulations that both the owner and tenant are to abide by. The lease template will need to be modified for each contract; especially is the there are varying amounts of rent obligations and clauses specific to the agreement.

Commercial lease agreements outline the specifics of the property rental contract and are difficult to have in standard form. A lease template acts as the skeleton and will streamline the process of preparing a lease by including standard information. The property owner’s information should be included in the lease agreement template because that information is consistent. Once both the tenant and owner or owner representative signs the lease agreement, the contract becomes legally binding.

Continue Reading »

Subleasing provides benefits beyond traditional roommate situations. In subleasing, the original tenant rents a room or space in the home to a subleasing tenant. By renting a subleased room and sharing living costs, both parties save money. Subleasing space such as an attic, garage or parking space offers affordable space to the subleasing tenant and allows the original tenant to make money. When subleasing, the original tenant could also indulge his or her desire for travel and wanderlust, spends a semester studying abroad, participate in an internship in another state or return home for a few weeks in order to visit family. Subleasing provides a livable room or rental space for the subleasing tenant and allows the original tenant to keep the apartment with a great location or affordable rent despite periods of extended travel.

Things to Consider Before Writing the Lease Agreement Template

Before subleasing, determine if the original lease allows subleasing. Contact the property manager to explain the reason for subleasing and receive permission. He or she may wish to assess the subleasing tenant before granting permission. The original tenant should investigate the character and financial history of the subleasing tenant. Perform a credit check and verify employment to ensure the subleasing tenant can afford to pay the rent. Because the original tenant remains responsible for damages to the room or rental space, ensure the subleasing tenant will treat the property with respect and willingly pay for any accidental or intentional damages.
Continue Reading »

Landlords must follow certain guidelines when preparing leases. This ensures that the lease agreement template is valid and binding. Although state laws may vary as to details, there are many general guidelines that landlords must follow if they want to set up a valid lease agreement.

Written Leases Only

In most states, leases must be in writing to be valid. Oral leases and agreements are difficult to enforce because there’s no evidence of what the actual agreement was, and misunderstandings can occur because both parties had a different interpretation of the terms of the agreement. For example, if you and your tenant have a verbal agreement about the day he is to pay his rent and he doesn’t pay on the first day of the month because he thought the agreement was that he has until the 15th of each month, it’s difficult to evict him. Get all important facets of the lease in writing to protect yourself against problems resulting from these types of misunderstandings.
Continue Reading »

A template for your commercial lease agreement is just one of the many things you’ll need to consider before choosing to lease your commercial property. Here at My Lease Agreement Template, we want to provide you with everything you need to get started on the right foot.

Today we have a video from Dale Willerton of theleasecoach.com.  In the video he talks about some tips to keep in mind when negotiating your rental agreement template with prospective landlords.  This is good info to have as someone who is looking to lease a property because these negotiations go both ways.  Knowing what your tenents will be asking will make you more prepared to offer a fair lease agreement. Have a look and let us know what you think in the comments.

Continue Reading »

While property management takes business expertise, personal skills are just as important. The best landlords know how to combine both by incorporating the following principles.

Preparing the Lease Agreement

Continue Reading »

Homeowners and property investors allowing renters to take possession of real property should protect themselves with a lease agreement. Though the law does recognize oral contracts, written contracts are preferred. While oral contracts are legally binding, only third-party witnessed oral contracts can be proven in a court of law. This means without a written agreement, it is often the word one party against another.

There are several reasons to use a lease agreement template. With a professionally drafted template a property owner has the following benefits:
Continue Reading »

Previously we’ve covered the basic items to include in a lease agreement template. These standard items include the tenant’s rights, the length of the lease agreement, as well as the monthly rental price of the unit. In many cases, the basics are all you need to successfully begin a landlord-tenant relationship. However, as a landlord you may wish to include several optional items in your lease agreement to better protect yourself from a potentially costly tenant.

Pest Control

Pest control can place a burden on your budget as a landlord. Therefore, it is to your benefit to include terms within the lease agreement template that stipulate that the tenant is responsible for any required pest control services. Prior to renting the apartment to your new tenants, hire a pest control company to perform an examination of the apartment in order to ensure that the premise is free from any pest infestations. Therefore, in your agreement you can outline that the apartment has been examined by a professional and deemed pest-free. Should any pest infestations occur while the tenant is residing in the unit, the tenant is responsible for payment of pest services.
Continue Reading »

Leasing a property is more than just finding a tenant and then collecting rent. There needs to be a solid lease agreement that is agreed to by both parties. Failure to have a lease can make it harder for a landlord to pursue damages against a tenant, or for a tenant to pursue their rights against a landlord. With that said, what should be included in a lease agreement template?

Name And Contact Information Of All Tenants

As a landlord, you need to know who is renting your property and how to get in touch with them. If there is a problem with the premises, or a tenant fails to pay rent, you need to make sure you can get in touch with that tenant. If anything were to happen, and there was no communication, it could lead to problems down the road for all parties.
Continue Reading »