what are the basic and important points to be mentioned or is there any standard format which has to be followed
2006-12-24 00:05:16 · 12 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Use a form, they will vary by state. There are too many things that legally have to be in the lease to waste time writing your own. You can buy one for about 10 bucks, and it is worth every penny, not only in time but to cover your assests.
2006-12-24 02:22:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
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2016-07-19 13:53:09 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Although you can find "canned" leases at any office supply or stationery store, you really should have an attorney review it. The problem with canned leases and DIY contracts is that local laws may prescribe certain language or restrictions that the author of the canned lease or the layman would not know about.
A good example is CA laws on security deposits and advance rent. In some parts of the country is very common to collect the first and last month's rent in advance in addition to a security deposit. That's illegal in CA. Anything over and above the first month's rent (and a maximum $25.00 application fee) is automatically considered part of the security deposit -- and security deposits are limited to 2 months rent so "pet fees" are not allowed either. A canned lease or DIY attempt might not reflect that.
An alternative would be to join a landlord's association such as the Texas Apartments Association in TX. They produce pro-forma leases that meet all state and local requirements and are much safer (legally speaking) than one from an office supply store.
2006-12-24 02:59:46 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Any legally binding document should be reviewed by a lawyer to be sure that your not setting yourself up for serious problems.
As a real estate professional I am prohibited from doing anything more than filling in the blanks on forms.
There are several great resources available for landlords. You can buy pre-approved lease forms and use them. http://www.mrlandlord.com is one good place to start.
There are several that offer basic forms for legal documents, however they may need to be modified to comply with your state and local regulations.
HUD has several requirements that can and cannot be in a lease.
Items like disclosing lead paint and mold problems are federal law
Items like requiring renters insurance and spelling out what you are responsible for may help you avoid litigation.
2006-12-24 03:32:55 · answer #4 · answered by oldfatcowboy 3 · 0⤊ 0⤋
It is not only important to mention certain things, the language and word usuage is very important too in order to be legally binding. If you are not an attorney, the best thing to do is to purchase the little kit from Office Depot for like $20.
2006-12-24 00:08:55 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The important points to be mentioned vary by state, so you need to understand the law in your state. Various states have some pretty draconian rules providing a lot of protection to tenants.
I would definitely get a mandatory arbitration clause to try to keep any nasty events out of court.
I have used free legal forms from http://www.irlg.com before, but I have not used lease forms from them, so you might want to poke around and see if their site meets your needs.
2006-12-24 00:11:32 · answer #6 · answered by myopenhandsguy 3 · 0⤊ 0⤋
The hire must be between the tenant and the LLC. you're able to sign the hire and upload "coping with member" as your call. be constructive the hire tests are to be paid to the LLC and placed into an LLC business corporation financial business enterprise account. considering which you in all probability have the loan on your call (and as a result the call and coverage) as you could no longer pass a loan to an LLC, and the shown fact that LLCs are bypass by companies, you is probably no longer receiving the criminal accountability secure practices which you have been hoping for. there remains criminal accountability linked with you being the valuables supervisor so i'm undecided what you attempt to end via forming the LLC to administration the valuables yet you ought to seek for suggestion from an lawyer for propose.
2016-11-23 14:46:28 · answer #7 · answered by ? 3 · 0⤊ 0⤋
My office gets more business from people who used online forms or cheap forms from office supply stores and subsequently have found themself in a huge legal and financial mess.
The most important things are the law in your state, the law in your county, and the law in your municipality.
Go to a lawyer who specializes in landlord & tenant law in your area. They will be able to customize a lease for your specific needs in your specific location.
2006-12-25 18:27:05 · answer #8 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
You haven't mentioned the for which country/state you wanted the rental agreement. If you are in India, I have a draft copy of the agreement. If you send a mail to me, I will mail you the copy of the agreement.
2006-12-26 17:44:33 · answer #9 · answered by Srinivas G 3 · 0⤊ 0⤋
there should be some forms online..
i also have some forms with "business disc"
you can also buy some in stationary stores..
things like..late payment of rent..and fines for that..
repairs..should be outlined..
maintence.., noise, etc.
2006-12-24 00:30:45 · answer #10 · answered by m2 5 · 0⤊ 0⤋