Tips for Writing a Residential Lease

Posted on September 11th, 2008 | by John Glenn |

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A powerful lease is very important for the landlord in order to save his rental property. The lender should always consult an experienced attorney for making out a lease but before that there are some tips that should be followed for drafting a perfect lease. The lease should answer these questions:
1.    What is the actual amount of rent and all dues?
The lease should clear cut mention the monthly rental amount, security deposits, non refundable pet depreciation fees, and any other amount.
2.    Will you charge late fees?
Some lenders charge fine if the tenant pays the rent after the due date. If there is no such criterion of late fees then it should also be mentioned in lease.
3.    Do you need a security deposit?
Security deposits are meant to protect the property from any kind of damage caused by the tenant. The lease must have clearly written about the security amount and if the tenant cause it any harm then the landlord can have a liberty to claim the deposited security.
4.    Do you allow pets to come?
Some tenants do have pets. If you as a landlord permit pets then it should also be written in the lease.
5.    What maintenance for tenant’s or landlord’s responsibility?
Mention precisely about the maintenance and repairs of everything and who is responsible for what.
6.    What happens when the tenant moves out early?
The lease must spell out about the procedure if the tenant leaves the renting place before time. If you demand for some fees then it should be clearly stated.

These are some of the questions that have to be answered well in advance before giving rental place to the tenant.