Lease Agreement Template

Most new Landlords are puzzled by paperwork. The Lease Agreement is typically on the top of the list of perplexities. Your solution is to use a ‘Lease Agreement Template’. They can be found almost anywhere on the Internet, Staples or in my book, How To Rent Your House Now .

In simplistic terms, a lease is a contract. And in being a contract, it is governed by contract law. Don’t be afraid. The lease is an agreement (contract) or common understanding in writing. In other words, you and your tenant agree on the terms set out in the contract.

The Lease Agreement Template you select should include the following:

• When, where and how to pay their rent.
• How long the lease is.
• Who is responsible for which tasks.
• Whether pets are allowed or not.
• What a tenant can and can’t do with or at a property.
• Who may occupy the property.
• Who is responsible for repairs and maintenance.
• Who pays utilities.
• Liability statements.

Just because you have a blank lease form does not mean it includes everything you need to help you and your tenant. You need to make sure it includes several key items that can later bite you.

Here are some things to watch for in a Lease Agreement.

TERM.

Set out the length of the lease in simple terms. This date to this date to begin on this date.

FEES.

Clearly state fees for such things as:

• Late fee.
• NSF charges.
• Courier fees if late with rent and you have to pick it up.
• Grass cutting or snow removal charges if performed by Landlord.
• Utilities paid above a capped amount.
• Additional keys or lost key (If you have to let the tenant in, charge them for the trip).

HOLDOVER.

Most States/Provinces let the tenant stay in your house even after their lease term is up; provided they keep paying rent. You are allowed by the landlord-tenant act to raise the rent at this point. Be sure it is spelled out in the lease – this one is important if you need to quickly re-rent your place at the end of the lease and need to get your current tenant out on time.

RESPONSIBILITIES.

Clearly state who will do what. In other words, I make tenants cut the grass, do snow removal, take out the trash, bring me the rent, etc. I am responsible to make major repairs, give receipts, etc. Stand by your responsibilities and make sure they stand by theirs. Just ensure your Lease Agreement Template includes every responsibility you can think of to avoid later confusions.

INCLUSIONS/EXCLUSIONS.

I do not recommend covering utilities, but if you do, make sure to define what that means. If there is a washer and dryer included but not dishwasher, be sure to state this in the lease.
Don’t be afraid to make changes in your Lease Agreement Template. I have prepared/signed thousands of contracts in my life and I always make adjustments to them to fit my needs or the needs of the other party.

Follow the guidelines above and you will not later be surprised in lease disputes.

RENTAL SECRET: I always use the simplest language instead of legal-ese to ensure the tenant and I are on the same page (in case the tenant contests the lease later, they can’t say they didn’t understand what that meant). See House For Rent Secrets for more Free Secrets.

RENTAL SECRET: Most of what is in a standard Lease Agreement Template is governed or superceded by Landlord-Tenant Law. Remember, you are merely coming to an agreement with your tenant as to who is responsible for what.

Disclaimer: Each State/Province will have various laws. Readers should not act upon this information without first seeking appropriate professional advice even if just to review your lease.