Lease Agreements
You need a strong knowledge of the law when drafting an effective lease agreement. The lease will state the rights and responsibilities of the landlord as well as the tenant. Each situation can be unique, and drafting a specific agreement for your situation can be preferable to using a prefabricated lease.
However you go about drafting your lease, you should always commit your lease to writing. There are many situations where a writing is required by the law, and even if it is not required, a written lease will serve as concrete proof of the lease terms.
Before drafting a lease, you should think about what all of the requirements will be. When is the rent due? Will there be a grace period for late payments? What is a permissible use for the property? Who will be responsible for maintenance? Will you require a security deposit?
In a residential lease situation, you will want to clearly spell out how long guest will be allowed, how many people are to be residing in the unit, and you should have all of the adults living in the property sign the lease.
Because a good written lease can be so important to you as a landlord, you should contact an experienced lawyer if you have questions about how your lease should look. Remember that an ounce of prevention is worth a pound of cure.
If you have questions regarding the preparation of a written lease, call me today to discuss your lease drafting options.
