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Proper Residential Lease Agreements Can Prevent Tenant Fraud – Here’s How
Tenant frauds are rising by the day with fraudsters finding more and more innovative ways to scam their way out of rent payment and associated expenses with respect to using your property. Certain common frauds committed by tenants besides rent evasion include…
• Causing deliberate damage to property and not owing up to it
• Subletting the home to another renter without your information
• Keeping pets against policies
• Accommodating more residents than mentioned in the contract
• Usage of electricity / gas / wifi over specified limit at landlords’ expense
• Carrying out illegitimate acts within the premises that can get you into a legal tussle later
As a property owner and a landlord, you have legal rights to protect your property against such uneventful situations and it all starts with creating legal standard residential lease agreement.
What to include in landlord tenant lease agreement form to prevent such frauds –
If you take a closer look at any online sample lease agreement for rental property, you will see that there are spaces where you can customize your individual terms and conditions for renting out your property.
This is your opportunity to pen down in legal terms, everything that the tenants can do while in the premises and penalties for not abiding by the rules. If you are a new landlord, take note of these critically essential inclusions while creating your agreement…
• Start with specifying the amount of deposit and how it will be used in case of rent evasion
• Mention with crystal clarity, the usage terms and conditions of the premises including guest / pet policies and penalties for non conformity
• You may be a benevolent landlord, but it is best if you let tenants pay for gas / electricity / wifi and usage of common spaces
• Mention in clear terms all acts that you wish to prohibit within your premises even if it is as simple as yard sale, outdoor parties etc
• Be very specific about deductions in deposit amount under cases like damage to property, deliberate structural changes made without your permission etc.
• Subletting rules is a must to mention. If you leave this aspect in the grey, tenants may end up using your property to gain side income.
For more information about getting a free rental agreement, please visit this website.
Carl writes often about legal drafting, rental lease agreement, marital separation agreement and help the people in such needs. Please visit this site to get a sample rental lease agreement in Connecticut and rental lease agreement in Delaware.
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