Protect Your Investments with a Solid Lease Agreement

74.4% of rental properties are owned by individual investors. Whether you have one property or have built a small real estate empire, it’s important to protect your investments by leasing them to tenants using legally sound written lease agreements.

Landlord-tenant law is different in every state. As such, it’s important that your lease agreements follow the laws and regulations in the local area. Starting with an online template may save money in the short term, but it leaves you open to liability or unenforceable clauses. The best way to make sure you have the necessary legal protection is to work with a law firm that understands the landlord-tenant laws in your state.

6 Key Rental Agreement Terms to Include

While lease agreements need to follow local law, there are six key terms or lease provisions that should be included in any rental agreement that can help avoid landlord/tenant disputes.

  1. Address of the rental unit and the signatures of all adults living in the unit
  2. The precise term of the tenancy
  3. Maximum occupancy limits that meet the Fair Housing Act regulations
  4. Clear statements about the amount, date, and manner of submitting rental payments
  5. The amount of the security deposit and the terms of its return upon moving out
  6. The conditions and any penalties owing for early lease termination for either landlord or tenant

Have a Lawyer Resolve Lease Disputes

Unfortunately, even tenants who have signed airtight lease agreements could damage property or fail to pay rent from time to time. LegalShield is here to help you deal with tenant matters. Here are some important steps to take when dealing with troublesome renters.

  1. Review the lease and keep records of all your actions and communications with the tenant.
  2. Know the laws in your state and be sure to meet your obligations as a landlord, including those listed in the lease.
  3. Send a notice of late rent according to the terms of the rental agreement.
  4. If the tenant does not respond to your notice of breach, first talk to the tenant to better understand his or her reasons, making sure that you document everything.
  5. Send a pay or quit notice (the first step in most eviction processes) with legal help.
  6. File for eviction with help from a lease lawyer.

In many states, tenants have substantial legal protections, and running afoul of tenants’ rights can land you in hot water. If you’re unsure about how to handle a tenant issue, join LegalShield and our lawyers can guide you. In more serious situations, your lawyer can get involved directly to negotiate a positive resolution.