Lease - Long Term Rental
I would love to hear different items you have added to a generic lease template that you think are important.
Quote from @Mary Kate Godwin:
I would love to hear different items you have added to a generic lease template that you think are important.
That's too broad a question to really get any good answers. As a PRO member, you have access to the BiggerPockets Lease Package for your state. Start with that and then refine it as you gain experience. It already covers 95% of what you need.
Go to TOOLS > LEASE AGREEMENT PACKAGES and search for your state.
It's too comprehensive for a forum post. I recommend using a solid general residential lease; in my state, the Florida Bar provides one free of charge and it is available online. A lot of folks complete it incorrectly so free isn't always the best. You might want to invest $50 or less with a legal service to have one prepared. Then I have a separate Addendum to the lease that lists in plain language the "rules." These include "this is a crime-free property," "smoke-free," how long a guest can stay and how frequently (sometime the guest isn't a guest but someone who has moved-in permanently), pet policy, specifics on reporting maintenance, and more. I strongly recommend that Renter's Insurance with Landlord as Additionally Insured coverage be required of the tenant; it's inexpensive and it is there should the tenant damage your property so that repairs are made prior to departure and a security deposit battle.
Hope this helps - and please look into lease preparation services in your community. It's a cheap date for an important document.
Quote from @Nathan Gesner:
Quote from @Mary Kate Godwin:
I would love to hear different items you have added to a generic lease template that you think are important.
That's too broad a question to really get any good answers. As a PRO member, you have access to the BiggerPockets Lease Package for your state. Start with that and then refine it as you gain experience. It already covers 95% of what you need.
Go to TOOLS > LEASE AGREEMENT PACKAGES and search for your state.
Hey Nathan I didn't realize that this was a PRO member benefit, pretty cool. But when I go to TOOLS - LEASE AGREEMENT PACKAGES then click on my state, it says I need to still pay for PRO annual. Am I missing something?
Quote from @Scott E.:
Are you paying monthly? I didn't realize there was such a thing. It probably requires an annual membership. Otherwise, you could upgrade for one month, download the package worth $100, and cancel your memebership.
Quote from @Nathan Gesner:
Quote from @Scott E.:
Are you paying monthly? I didn't realize there was such a thing. It probably requires an annual membership. Otherwise, you could upgrade for one month, download the package worth $100, and cancel your memebership.
Yeah I'm on pro monthly. I just found the perks page... looks like it does need to be an annual pro membership to get those forms. Doesn't apply to monthly (which is weird because you actually end up paying more money when you sign up for monthly.
Thank you all!