A residential lease is a contract between a landlord and tenant that defines expectations and rules to be followed by tenants while residing in the landlord's propertyExpectations for timely rent payments, insurance requirements, care and maintenance, and respectful and peaceful enjoyment of the premises are detailed.The legally binding document can be used by both landlords and tenants if either party fails to fulfill their obligations.The property is protected against destruction by the tenants.It is important to include precise wording in a lease to make sure that all aspects of renting to tenants are covered.Legal protection for the property, landlord and tenants can be provided by learning how to write a residential lease.
Step 1: Check with an attorney.
It is helpful to work with an attorney if you are writing a new residential lease form.Provisions that are required in one state may not be the same in another.If you want your lease to be enforced in your state, you should work with an experienced real estate attorney.The rest of the lease will be enforced if one provision is not legal.
Step 2: Work with a housing authority.
You can find a local real estate housing authority if you live in a city.Landlord and tenant assistance is provided by this office.To make sure that landlords comply with local regulations, they also oversee certain low-income rental situations.If you fall under the jurisdiction of the housing authority, you may be required to use a particular lease form.The landlord is required to give a lease document by the Housing Authority of Salt Lake City.The landlord is required to comply with Housing Authority requirements.The affordable housing program requires the St. Louis Housing Authority to review and certify any leased properties.The Baltimore Housing Authority has a website dedicated to landlords.Information about requirements for rentals and provisions must be included in your lease.
Step 3: There is a template for a residential lease.
The internet can be used to find residential lease forms.Many samples will result from a simple search for residential lease forms.Some are designated for specific states or cities if you review the results.Provisions that may be required by state or local law will already be included in these.A good starting point for creating a lease will be provided by other results.A sample lease agreement has been published by the Minnesota State Bar Association.You have to fill out the details for your property and tenant.There is a sample lease agreement for use within the city of Chicago.Information about local real estate laws can be found on the website of the Province of British Columbia.A template of a residential tenancy agreement is included on the site.The website RentalLeaseAgreement.org has a list of all 50 U.S. states and links to standard lease agreements that will be valid in each state.Select your state from the list and you will be directed to a page with rental requirements for that state.There is a link to download the lease agreement form.
Step 4: The owner and tenants should be identified clearly.
A binding contract is a residential lease.The identification of the landlord and tenant is an important part of your lease.There are spaces to fill in the names if you are using a prepared lease form.If you are drafting your own lease agreement, you can use complete sentences or write out a form that identifies the landlord and tenants.The first paragraph of your lease could read, "This is a residential lease between John Smith, Landlord, and Robert Adams, tenant."If you have more than one tenant, you must clearly identify them.If a married couple is going to be renting the property, the lease should identify the tenants as Robert Adams and Mary Adams.If two or more unrelated tenants will be renting as roommates, they should be identified individually.
Step 5: If applicable, name the property manager or other responsible person.
The lease should say so if the owner is going to live at the property and will personally be responsible for any maintenance or emergencies that arise.If a separate property manager will be handling the routine affairs, then this person or company should be mentioned early in the lease.Information about who the tenants should contact with problems and how they can reach the appropriate person should be included in the lease.
Step 6: The property is the subject of the lease.
The property must be clearly identified in the lease.Give its address first.The apartment number should be included if it is an apartment in a multi-unit apartment building.You should include a brief description of the property, such as the number of rooms, bathroom, closets, and so on.It is a good idea to include a floor plan of the apartment in the lease.If the lease is for a space in a single family home, there may not be an apartment number.The lease may only have a description of a second floor apartment with a kitchen and bathroom on the first floor.If the landlord provides a fridge and there is no garbage disposal, those things should be stated in the lease.
Step 7: Make sure to state the rent payments that are due.
The amount that is due is stated in the lease.Cash, check, credit or money order are acceptable forms of payment.The lease should say where the payment is to be made.
Step 8: Define the due date for rent payments.
The lease should tell the tenant when the payments are due.Payments are usually due on the first of the month.The last day of the month can be set by a lease.
Step 9: You can include a grace period for late payments.
Payments can be made after the due date without penalty.There is a grace period.Make sure that the provision is written into the lease.
Step 10: Penalties for late payments are provided.
Any penalty terms for late payments should be included in the lease.The landlord won't be able to collect a penalty if this provision is not written into the lease.Depending on the degree and repetition of lateness, the penalty for late payments may range from a small additional fee to possible eviction.Many state laws regulate the amount of money a landlord can charge as a late penalty.Check with a real estate attorney or local housing board to make sure that your late provision is in line with state law.
Step 11: There are conditions that may cause a rent increase.
When and to what extent the landlord may increase the rent is spelled out in the lease.In a multi-year lease, the landlord may be able to increase the rent at the end of each year.The landlord might not have the right to identify this in the lease.There are sections in some state laws that limit allowable rent increases.You should be familiar with your local requirements.
Step 12: State the start and end dates of the lease.
The lease needs to be clear about when it begins and how long it will last.You can't assume anything.The lease term will usually start on the first day of a month and end the last day.The parties to the lease can agree to any dates that are convenient for them.
Step 13: The period of the lease should be included in the clause.
Residential leases last a single year.A month-to-month term is possible for some leases, which are more often for apartments.Some are multi-year leases.You will want to consider the pros and cons of each period when you are writing or negotiating the lease.An annual lease lasts a year.The parties will be able to negotiate new lease terms at the end of the initial year.A one-year lease provides security to both parties for a year but can be changed at the end of that time if either party wishes.A lease can be for two or three years.Residential leases can be written even longer.Multi-year leases are more common in high-end apartment complexes because residents there tend to be more stable.A high level of flexibility for both parties is provided by month-to-month leases.One month's notice is all a tenant can give to move out.The landlord on a month-to-month lease has the right to get rid of undesirable tenants.A month-to-month agreement allows the landlord to increase their rent.
Step 14: There should be a provision for lease renewal.
When the initial term of the lease ends, you should consider what you want to happen.If no action is taken, it is common for annual leases to be reverted to a month-to-month lease.There should be a notice provision in the lease that shows how much time is required before the original lease expires.The notice period is intended to give both parties time to negotiate a new lease.You can include a paragraph that says, "This lease shall continue for one year from September 1, 2016 through August 31, 2017."30 days prior to the expiration date, the tenant can make a request to extend the lease.If the lease is not renewed, it will become a month-to-month lease.
Step 15: An early terminated clause should be included.
Provisions about early termination should be included in every lease.Both parties will be covered by this clause.How much notice the tenant must give to leave the property should be explained in the early termination clause.The notice the landlord must give before the lease is terminated should be spelled out.Extreme damage to the property or non-payment of rent are examples of things that can't be done early by the landlord.The lease should state that an early terminated notice should be written.
Step 16: Who is responsible for paying the utilities?
The utilities are an important part of the lease.The landlord or tenant should be responsible for payment of all utilities connected to the property in the lease.The paragraph might read, "The tenant agrees to be responsible for all utilities for the property except _____."The landlord can pay any utilities the landlord chooses.
Step 17: Define the responsibilities.
Both parties to the lease need to agree on which maintenance tasks will be handled by the landlord.A lease will assign minor repairs within the residence to the tenant, with the landlord taking care of more extensive work.If the landlord is providing a washer and dryer in the property but won't do any repairs on or replacements of the machines, this should be mentioned.
Step 18: What services are included with the property?
Special services should be defined in the lease of the rental property.Laundry facilities, a communal swimming pool, and on-site trash removal are some examples.
Step 19: Define how much the security deposit is.
The security deposit is a standard part of lease agreements.The security deposit is usually equal to one month's rent in most of the leases.The landlord will keep the security deposit until the tenant leaves.The requirements for the landlord's handling of the security deposit should be in the lease.If this money is kept in a designated trust account, it will not be commingled with the tenant's rent payments.When the landlord must return it to the tenant should be explained in the lease provision.
Step 20: Explain the conditions that would cause the security deposit to be forfeited.
When the landlord can keep the security deposit is spelled out in the lease.The security deposit money is the property of the tenant.Damage to the apartment is usually the result of such events.If the landlord wants to keep part of the security deposit, the lease should tell the tenant what notice is required.A detailed explanation of the reason is required in this notice.
Step 21: The security deposit can be returned with the details.
The lease needs to explain how and when the landlord has to return the security deposit.This usually happens after the tenant leaves the property.The landlord should have enough time to inspect the property after the tenant leaves.
Step 22: Attach written addenda to side agreements.
The agreements between the landlord and tenant that are not included in the primary lease should be written on separate pages.These should be added to the back of the lease.Each addendum should be signed by the landlord and tenants separately.House Rules Addendum is one of the most common topics for addenda.
Step 23: The entire agreement is represented by the lease contract.
The entire agreement between the parties should be verified by a paragraph in the lease agreement.The landlord will not be able to change the lease provision in the future by saying, "But the landlord told me."Modifications to the lease will be made in writing.
Step 24: You have to sign the lease.
The signatures of all parties or their legal representatives are required to sign a lease.At the end of the lease, there should be a space for "Landlord's Signature: _____"There should be signature lines at the bottom of each page.There are initial changes to the lease.If there is a reason to change the typed provisions of the lease, the changes should be made in ink, and both parties should initial the change in the margin.Tenants should sign on their own.Except for minor children who may be living in the property, each tenant needs to sign separately.This applies to husband and wife couples, non- married couples or individuals who will be sharing the lease.All parties must sign every page and the addenda must be clearly understood.Let the tenants review and sign the lease for about an hour.
Step 25: Make copies of the lease agreement.
Copies of the lease should be given to each tenant.The original should be in a safe place.Each party should be able to refer to the signed copies if there is a dispute.