A great lease can keep an owner and tenant out of court and trouble. Leases need to be clear and concise on what the responsibilities are for each party. There are several vital items that need to be included in a lease.
- Tenants names and information. Any occupants including children should be on the lease as well as contact information, emails and telephone numbers.
- The amount of rent and when it is due. What are the penalties if a tenant is late? Is there a grace period?
- Who pays what with utilities? Does the owner pay some or none?
- What happens at the end of a lease? Does the lease automatically renew? Does it end?
- Security Deposits- what happens with the security deposits, time frames and possible charges.
All of this and more is why owners should have a comprehensive lease. When a problem arises, an owner or tenant should be able to go to the lease for direction. When tenants and landlords work outside the lease is when problems start to happen. Having a detailed, strong lease as a base will help guide the way and keep everyone out of litigation.
Del Val Realty and Property Management has a strong, fundamental lease that both tenants and owners appreciate. Check out www.delvalrealty.com to see all that we have to offer. If your tenant is not on a Del Val lease, we can help!
Elisha Heebner is the Assistant Director of Rental Services and a property manager at Del Val Realty & Property Management. Elisha specializes in property management as many homeowners today need a competent, caring person to handle these affairs for them. Professionally, it is her duty to provide services to her clients with integrity, competence, and confidentiality.