The lease agreement is very well one of the most important documents of the rental process. It is used to protect both landlords and tenants, so it is important to ensure that you have a comprehensive lease agreement before you rent out your property. Here are a few things that are important to include in your lease agreement.
The Names for Every Tenant
When you only have one tenant listed on the lease agreement, you may be unable to hold the other tenants accountable for following your terms. It is important to ensure that every adult tenant signs the lease agreement and ensure that they list underage tenants, as well.
Include the total term length of the lease. It is also important to list the policies for early cancellation. Ensure that your tenants know how to renew their lease agreement when the term has ended. You will also need to decide whether you want the lease agreement to be on a month-to-month basis, a yearly basis, or even longer.
It is vital to ensure that you list the rent price on your lease agreement to ensure that everyone is on the same page regarding this. You will need to also list the specific due date for rent, how you wish to collect the rent payment, and any applicable late or insufficient funds fees. It is crucial to ensure that your security deposit requirements are listed on the lease agreement. Include situations in which the security deposit will be withheld, how it will be used, and how it will be returned if necessary.
Your Specific Rules
There are certain policies that are primarily up to the landlord. Ensure that you list these clearly on the lease agreement. For example, if you allow pets but require a monthly fee, list it. If you don’t allow smoking in the property but allow it outside, have this outlined on the lease agreement.
Your lease agreement is one of the most important documents of the entire rental process. Ensure that your lease agreement is thorough and comprehensive to protect yourself and your tenants. To obtain help crafting a superior lease agreement, contact us at the Keyrenter in San Antonio today!