In the business of leasing and property rentals, it’s important to make sure that your tenants will be satisfied. You need to put it into writing so that your tenants will have something to hold on to should some issues arise.
A leasing agreement should also work to your advantage. It’s a document that will protect you from your tenant’s unjust accusations and other baseless perils that will put you and your business in danger. Whether you’re running a small apartment complex or section 8 property investments, here are some tips to help you out.
The Names of the Tenants
Right before you give the leasing contract, you must have some information about the residents. And when they agree to rent your property, you will have to get their personal information, which includes their contact details. You must include a clause where you’ll state that falsified information will be considered as a breach of the agreement.
Speaking of clauses, you will have to be very specific about them. Include the length of the lease, the payment terms, and the utilities that they are supposed to pay. Also, include in the agreement that the renters are not allowed to sublet the property.
If you want to keep your property in good condition, you should make sure that the tenant shall shoulder the expenses involved in any damage incurred within the duration of their stay. You must specify the interest rates and the penalties should there be any delayed payments.
Review the drafted agreement carefully and see to it that there are no contradictions. If you’re unsure of what you’ve written, don’t hesitate to seek the help of a reliable property lawyer. They will help you simplify each clause and remove the unnecessary technicalities that will get in the way of understanding each provision.