If you’re not sure how to write a lease, consider working with an Orlando property management company so you can be sureto protect yourself and your home when you rent out a property. Lease agreements need to be comprehensive, legally binding, and customized to your investment property. It’s also important that your tenant understands all the terms of your rental agreement.
Avoid Generic Leases
There’s a lot of information available online, but you don’t want to download a generic lease from the Internet. You also don’t want to buy a standard lease from a store like Staples or Office Depot. These leases will not include everything you need, and they won’t necessarily be legally binding in the state of Florida. You need a specific lease that addresses your property and the tenants who live in it. Use a rental agreement that is drafted by an attorney or an expert in property management Orlando.
Include Details and Instructions
All lease agreements need to include identifying information such as the name of the tenant, a list of all occupants, and the location of the property. You also need to make sure the tenant has clear instructions for things such as how to pay rent, who is responsible for utilities and services such as lawn care, and what to do when maintenance is needed. You’ll need to include your process for requesting entry into the property for inspections and a statement of consequences if rent is late or the tenant is found to be violating any terms of the lease. An important part of your rental agreement is the move out instructions. Most tenants want to get their full security deposit back after moving out, and your lease can tell them what they need to do to avoid deductions.
Lease Agreements Resolve Conflicts
Any conflict or disagreement that arises between you and your tenants can often by answered by your lease. If rent is late or the air filters need to be changed or a tenant needs to leave the property before the end of the lease term, your rental agreement will tell you how to proceed. It’s the first place you and your tenants should look if there’s a question or a problem.
Review the lease in detail with your tenant before the move in process. Make sure you explain the requirements in the rental agreement and answer any questions. If you have any questions about lease agreements or property management in Orlando, please contact us at R. Russell Properties.