So, you’ve officially found the perfect tenant and now it’s time to put together the finalized lease agreement; but the question is, what do you include in the agreement?
When you’re putting together all the terms of a lease agreement, it’s extremely important to touch on any issue that you think is relevant or may come up throughout the time of the rental. You need to make sure that the lease is clear on everything, and not just a vague list of things that are left to the tenants discretion, or even your own discretion (for their sake).
If you make a lease agreement that doesn’t cover specific items, you’re leaving a lot of blank space that may hurt you later on. It’s imperative to set clear roles and decide what’s going to be your tenants responsibility and what’s going to be your responsibility. This comes into play when you’re talking about things like general maintenance, or even landscaping; who’s going to be hiring someone to fix things, who’s going to take care of mowing the lawn? Some people may think these things are implied and won’t put them into the terms of the lease, but that can lead to problems later on.
Your tenant is also going to want to know what they are and aren’t allowed to do, so be sure to set rules that are both clear and fair. If you’re clear with your terms it makes it easier for your tenant to follow them, or for you to address issues if they go against your agreement.