| As the small-time landlord goes about getting started | | | | Subleasing- One always want this section to appear in |
| managing the rental property they just bought, they are | | | | the lease. It ensures that the tenant will not rent the |
| sure to discover that there are literally thousands of | | | | residence from the landlord and then turn around and |
| different variations of the residential property lease. It is | | | | rent it to someone else, leaving the property with a |
| always best to have a lawyer draft a lease, but lets | | | | tenant that the landlord didn't approve.Redecoration |
| be honest, how many people can afford to have a | | | | Alterations - Also self-explanatory, this section ensures |
| lawyer draft them a real estate form every time they | | | | that the tenant must get the landlord's permission |
| need one; and still make profit? More realistically, the | | | | before painting the walls, fixing an appliance, or |
| landlord will often navigate the web or travel to | | | | re-carpeting the floor.Holdover Policy - This policy is |
| brick-and-mortar office stores to buy an affordable | | | | great for busy landlords (Are there any that aren't?). It |
| version of a lease. With so many to choose from, the | | | | usually states that the current lease will hold over as a |
| list below highlights a few of the bare-minimums that | | | | new month-to-month lease if the tenant and landlord |
| one should check to ensure that the lease includes | | | | cannot get together in time to sign a new lease before |
| them.Preliminary Terms - This section is usually at the | | | | the current one expires. This situation is also useful for |
| beginning of the lease and includes such things as the | | | | tenants who are unable to stay another year or are |
| landlord's name, the tenant's name, the address of the | | | | unsure of when they are going to need to move out. It |
| residence being rented, and any appliances that are | | | | gives both the landlord and tenant flexibility without |
| included in the property that are owned by the landlord | | | | immediately signing a new lease.Pets - Four different |
| (Often times, a separate appliance section may be | | | | textboxes often accompanies a pet policy. First, can |
| included in the lease).Term - Self-explanatory, the term | | | | the tenant have pets; yes or no? Secondly, what kind |
| is the length that the tenant(s) will be renting the | | | | of pets specifically can the tenant have if the answer |
| residence (premises).Rent/Security Deposit - All leases | | | | to the above question is yes? Third, a monthly |
| should of course include the rent. The rent section will | | | | maintenance fee that the tenant pays to maintain the |
| often included the monthly rent amount, the exact day | | | | cleanliness of the residence, and fourth, the extra |
| of every month that the rent will be due, and the | | | | security deposit that the tenant must pay for having |
| address at which the tenant(s) can mail the rent check. | | | | the pet.By checking for the above criteria on any lease |
| A good lease will also include the amount a tenant | | | | one intends to use, they are safeguarding themselves |
| must pay after a certain amount of days their rent is | | | | against a few of the "sticky" situations that may arise |
| late and the fee that they must pay if their rent check | | | | from lack of specification in the residential lease. A |
| bounces.The security deposit often has a section of its | | | | lease can be both a friend and foe to the landlord, so |
| own and usually states two things. First, exactly what | | | | make sure that you create a friend instead of a |
| the security deposit amount is, and secondly, the | | | | foe.The author is both the founder and owner of |
| number of days before the security deposit will be | | | | LandLordDocuments. |
| returned to the tenant after their departure.Subletting | | | | |