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3 Items to Include in Your Lease Agreement

Rent It Network - Wednesday, February 26, 2020

Leases are legally binding contracts that protect tenants and landlords in the event of disputes. These documents are packed with business details outlining the delegation of responsibilities throughout the duration of time the tenant remains in the property. While leases can be drafted by a variety of authors, the following 3 areas have been evaluated by leasing specialists to be the most essential clauses to include in your lease agreement. 

1. List Names of all residents and occupants.

Every adult over 18 years old who lives in the rental, including married couples and their older dependents, should be named as residents, sign the lease or rental agreement, and have a screened background check prior to residing in the property. This way each resident is legally responsible for following all terms of the lease or rental agreement.

2. Include An Accurate Description of rental.

It is essential to include the complete address of the property down to the minor details including building and unit number including areas used as lawn space. It is also essential to include the appliances you are willing to supply and repair in the case of error.  You’ll also want to note any specific storage areas or parking spots that are included with the rental. For example, if the rental includes assigned parking, be sure to write in the spot number and shared parking restrictions. 

3. Include Your rules and important policies.

If a rule or regulation is so important to you that you’d want to remove a resident who violated it, be sure to include it. Additional rules can be written in a separate regulations document or addendum to be signed and acknowledged at the lease signing. This places the responsibility on the tenant if violations to your property occur.

In conclusion, even though leases are not the most exciting part of owning a rental property it is a vital method of communicating information between you and your tenant. Well-constructed Leases can prevent a multitude of accidentals and confusions, by providing clear expectations of both parties. When you’re in the market for a company well versed in lease comprehension text the rental experts at Rent It Network at 813-534-4662 today.