Most landlords don’t know exactly what lease or rental agreement should include. When you don’t have an elaborate lease or rental agreement, it may put you on disadvantage later when you are dealing with a troublesome tenant. You need to ensure your lease terms include everything that a tenant should know before moving into your property.
Your lease agreement is what will form the foundation of your relationship with your tenant. Thus, it is very important that you take it very seriously. If you are struggling with writing a good lease agreement, our experts here at Los Angeles Property Management Group can help you create a good lease agreement.
In this article, you will learn of all the lease terms that you need to have in your rental agreement. Keep on reading to find out more:
Top Lease Terms You Need To Have In Your Rental Agreement
- Rent Amount
Make sure that your rental agreement explicitly states the rent amount in figures and in words. A tenant needs to know the exact amount he is paying before he moves into your property. He also needs to be aware of what is inclusive in the rent he will be paying.
- Security Deposits and Other Fees
If you are charging a security deposit, make sure you state it. State how much you are charging for security deposit and what it covers. You will also need to state how the deposit can be used as well as how and when it will be returned to the tenant. You may need to check your state law to know exactly the guideline you should use in charging security deposits.
- Rent Period
Don’t forget to state exactly when the rent starts and when it ends. Be explicit if the rent is monthly, semi-annually, or annually.
- Define Limits of Occupancy
A good rental agreement needs to specify that only people who have signed the lease (and their children who are minor) can legally live on the property. This means that your tenant has no right to sublet the property or allow their relatives to move in and stay for a long time without permission.
Do you want pets on your property or not? Most landlords don’t want pets on their property. If you allow pets, you need to specify what kinds of pets are allowed and pets that are prohibited. You should also outline procedures for dealing with pet-related issues as part of your lease terms.
- Restrictions on Disruptive and Illegal Behavior
Certain behaviors such as noise, smoking in public space, and illegal drugs are not allowed in so many properties. Make sure you let your tenants know in the lease agreement about the restrictions on these disruptive and illegal behaviors. Your tenant should know that these acts are grounds for terminating the rental agreement.
- Maintenance and Repairs
Both the tenant and the landlord have the responsibility to maintain the property. In your lease terms, you should let the tenant know what his responsibilities are. In most cases, tenants have the responsibility to keep the premises clean. They are also responsible for any damage caused by their own neglect or abuse. As a landlord, you have the responsibility to keep the property livable. You are also responsible for repairs that are not caused by the tenant such as a leaky roof. Make sure that your rental agreement is clear about maintenance and repairs.
Drafting a good rental agreement is very important. The guide above will help you to come with lease terms you need to have in your rental agreement. If you still need help, you can always contact us at Los Angeles Property Management Group.