13 Terms to Place In Your Lease Agreement - Green Residential Blog

Abstract

A tenant might damage your property or stop paying rent at any time without prior warning. What is a lease agreement? A lease agreement is a legal contract between a tenant and landlord which outlines the terms of tenancy. Thereafter, if any of the named tenants violates the lease, you have the right to terminate the agreement with all of them. Rules Set rules for tenant behavior in the lease agreement. Typical ones include: Dedicated quiet hours when tenants should keep noise levels to a minimum Restrictions against illegal activities like drug dealing and prostitution Rules for keeping pets, such as extra fees Rules against smoking Regulations for subletting Rules for running a business on the property, such as a car repair operation in the garage Policies on alterations to the property, like painting or putting nails in a wall Whatever you decide to allow or prohibit is entirely up to you, but you have to put it in the contract if you expect tenants to know it and be held responsible. You'll need to describe the justifiable reasons to enter the property and how much advance notice you will give the tenants. Helpful information Finally, it's not a bad idea to include the following helpful information as part of a new tenant's move-in package: Your contact information An emergency escape plan The trash pickup schedule Final Tips A good lease agreement will benefit landlords and tenants because it allows each to know what to expect from the other.