Today at Smooth Sailing Realty, we are talking about what you need to include in your lease for it to be effective. You can buy leases and templates in any stationary store, or you can get them off the Internet. We don’t recommend using those leases. A proper lease has to be well drafted and it must include all the legal jargon that’s necessary to protect you. In order for your lease to be legal and enforceable, it needs to be specific to the area and to your property.
Identification and Rules
A strong lease will include the names of all the tenants and occupants in the home. It will also establish occupancy limits and explain what tenants are allowed to do and not allowed to do. Your lease should explain all the charges and fees that need to be paid and any extra fees that will be charged at the end of a tenancy, such as fees for damaged property. Be clear and specific so tenants know what to expect. You also need to tell tenants how to properly log in repairs. When tenants know whether they should call or use some other system for requesting repairs, the work will get reported and finished quickly.
Some of the most important pieces of information to include in your lease are the requirements for making timely rent payments. Make sure you’re clear about how rent is to be paid. State how much is due, when it is due and how it should be paid. Be specific. For example, if tenants are required to mail rent payments, stipulate which date the check should be put in the mail. If it needs to be turned in at the office, be sure to list the address. Include information on how to pay rent if the due date falls on a holiday. Tell tenants whether you will accept cash, checks, money orders or electronic payments. All of these specifics need to be discussed in the lease so there is no confusion about how and when to pay rent.
The purpose of your lease is to ensure you are legally protected. Take the time to get a strong and effective lease in place and if you need help, talk to an experienced property manager. We handle leases every day, so if you have any questions, please contact us at Smooth Sailing Realty and Property Management.