Kenneth Huizenga May 17, 2019 Lease Agreement
Restrict illicit behaviors: Your goal here is to keep all of your residents happy, prevent property damage, and protect yourself from lawsuits. As such, your lease agreement should prohibit disruptive behavior (e.g. excessive noise) and illegal activity (e.g. drug dealing). Specify any other restrictions, from parking rules to the use of common areas.
If you’re a landlord or property owner, your lease agreement is probably one of the most important documents you use. it is the legal agreement between you and each tenant that occupies the space you own, and therefore, it acts as the rules by which they live in that space as well as defining the repercussions should the rules be broken.
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.
Property rules – if the property is a multi-unit, the landlord may specify rules that govern behavior on the property such as avoiding loud noises after 10 p.m. or not doing vehicle repairs in the parking lot, for example.
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.
Parties to the lease – the lease agreement should name the landlords and tenants who are bound by the agreement. Description of the property – the lease agreement should have a description of the property controlled by the lease agreement. It may be as simple as the address and apartment number but it must be identified or the agreement cannot be enforced.