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Top 5 Things You Must Include In Your Rental Contract

By Author: Simply Property Management
Total Articles: 4

A lease agreement is a vital document when you own real-estate & rent it out. It must be complete, outlining each aspect of the tenant-landlord bonding and expecting any circumstances that may happen or arise during the course of the contract. But being complete with a lease contract is tough. Several things can take place during the course of a lease contract, and to write down them all would take hundreds of pages. Given your unique situations, there are certain things usually ignored in lease contracts that you must consider adding. We talked to a Clearwater property management company regarding the lesser known things that you people must include in their lease. Let’s find out what they have to say.

Conflict resolution approach:

Conflict is expected at a rental property. It can happen between tenant and landlord, or it can usually happen between or among renters. While you cannot foresee what exact conflicts will relate to, you certainly can make a process to deal with conflict. This procedure should cite how you will approach disagreement, and then it must also offer steps for escalating the arbitration if primary steps do not work.

Whether you permit pets on your rental property:

Does your rental property allow pets? You need to answer this question from the very beginning. Perhaps you have had a terrible experienced before, or maybe you wish to avoid have a horrible experience in the coming days – in either case prohibiting pets might be your choice.

With so many renters have pets prohibiting animals may keep your property vacant. If you do permit pets, summarize in the lease contract all the terms and condition. You may choose to limit the weight of a pet or the number of pets. You may also want to include an extra deposit due to the presence of a pet.

Subletting your rental property:

This is also yet another vital aspect to take into account while leasing your property. Will you or won’t let subletting? Regardless of what you choose, don’t falter to summaries it in the agreement. It is vital you stay in total control of who resides at your rental property.

Summarize expectations for utilities usage:

This is crucial for both single & multi-family properties. You must summarize in a lease contract:

Utilities for which the tenant will be accountable for
The time limit by which they must be placed in the renter’s name
The process & recourse for late payments or overdue
Clarify rules for the common areas:

Many rental homes have common spaces shared among occupants. Summaries any guidelines for making use of these common areas in your contract. This may mean rules & regulations for a grill, fireplace, pool, backyard or identical areas. As always, be comprehensive & try to expect challenges and disagreements that may come forward around one of these common spaces.

Are you looking for help figuring out your lease agreement? Feel free to look for a professional Property Management Company in Clearwater that has a good reputation in the area. An experienced property manager is the best person who can help you with what to include and what not to in your rental agreement.

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