Josephine Seibert June 10, 2019 Lease Agreement
Every lease is a contract, and as such will name the people who have entered into the contract and are legally bound by it. That should be your landlord, yourself, and any roommates you might have. Anyone whose name doesn`t appear on the document isn`t legally liable for rent; if you take on a new roommate after the lease has been signed, you may want to ask the landlord to issue a new one. If not, you`re the one who`s liable when they don`t pay their share of the rent.
Assign maintenance and repair duties: Your lease agreement should specify that it`s the tenant`s job to keep the unit in good shape, and that they`re responsible for any damage that they cause. Require the tenant to alert you to hazardous or defective conditions, and lay out your procedures for responding to complaints and requests. Forbid the tenant from making alterations to the unit or changing the locks without your written permission. In addition, your lease agreement should specify who`s responsible for utilities.
Set rules for rent payments: Specify the amount, the due date, and the format (e.g. a mailed check or an online payment). In addition, your lease agreement should spell out regulations regarding bounced checks and late fees (e.g. how much you charge and when a payment is considered late).
Your lease agreement sets the tone for your relationship with your tenants, acting as both a legal contract and a point of reference. As such, it`s vital for it to be as specific and exhaustive as possible. Always make sure that each component of your lease agreement is in line with your state`s regulations, and of course, run it past your lawyer before implementing it.
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