Updated over 2 years ago on . Most recent reply
Generating First Lease Agreement
Hi all, I am currently trying to get my first lease agreement made for my property. I was wondering if I can use a lease from a current landlord in another county in Minnesota? I would like to do this as an investor I know is willing to provide me a copy of his residential lease that he paid an attorney to draft. I have seen this lease and compared it to a standard residential lease from the BAR and it is much more comprehensive. Is this legal, or would I be better off drafting my own off of the standard agreement with my own attorney? Or purchasing the BiggerPockets forms? Thanks for any advice!
Most Popular Reply
All of the above. You can use your own form for your own property. But it would be good to base it off a standard lease agreement. If you get permission from the fellow investor and there is no copyright concern then you may use that form. I would also recommend paying for an hour consultation with an experience local RE attorney to go over any specific issues that a new investor should be aware of. This should be money well spent.