Carl Glendon

How To Ensure A Great Residential Lease Agreement?

You have spent a lot of time in ensuring all things are proper about your rental property, before finally letting it out on rent. However, even after choosing a tenant, your task is not complete. You will need a standard residential lease agreement to ensure that you, as a landlord, are in the best position - legally speaking - to enter the real estate market. Here is how you can make sure of an amazing residential lease agreement for your needs.

Ensure that you have a written lease

In the absence of a written agreement, you cannot prove that your tenant has agreed to your terms and conditions. You can save on a lot of confusions and legal hassles later in by having a well-drafted and signed lease between your tenant and yourself. Make sure that the home rental lease agreement templates have all those things that could be a problem later on, whether it comes to your or the tenants responsibilities, due dates of payment, repairs etc.

Ensure payment terms are in accordance with state laws

Find out what your state permits. It is important to ensure that your landlord tenant lease agreement template has clear terms for every payment expectation, which includes fees / penalties for missed or late payments, location of payment, form of payment, frequency of payment, due rent payment date etc. A few states limit the penalty fee that may be charged for late payment or the security deposit amount that may be collected. The laws of states in the US are quite specific when it comes to the security deposit and rent of the first month. For more information about getting a rental agreement forms free, please visit this website.

Mention the utility fees

Make sure that your lease agreement for rental property mentions all other services and fees for which a tenant is likely to be responsible. Outline whether the tenant will pay for the connection fees, utility bills etc or whether you or some outside party will be responsible for paying them. To learn more about drafting a free PA lease agreement template online, click this site.

Author Resource:-

Carl writes often about legal drafting, rental lease agreement, marital separation agreement and help the people in such needs. You can find his thoughts at free legal contracts blog. Please visit this site to get a sample rental lease agreement in Illinois.