Trying to lease out our condo and was wondering how much income documentation do we need. and also where can we find a free lease agreement template. We are in california.
Thanks in advance
@Lalaine Hagler we have some sample leases:
I do recommend having an attorney in your area review your lease.
I ask for pay slips or similar documentations. Bank statements can also show deposits, though sources aren't always identified. I also try to independently verify employement. I google the employers name and try to find the same number the tenant gave me directly. Big employers will usually have some process for getting this info. Smaller ones will often just give it out over the phone, especially if you ask "I need to verify info provided by an applicant" rather than if you ask "Can you tell me how much so-and-so makes".
You might want to check out this thread: Ultimate tenant screening guide.
Jon Holdman, Flying Phoenix LLC
Hi everyone I just joined yesterday. I manage, rent, and sell residential property in Boston/Cambridge area and get very nervous when I hear someone/clients looking or a "free" template on-line. The words risk & liability scream at me. I highly recommend you go to a local real estate attorney or a local rental agent who has considerable experience in the area and pay them for their professional services. Someone like that will have a template of their own that through years of experience has not only a lease but more importantly all the attachments ($ receipt, apt condition stmt, lead law, pest (bedbugs etc.), mold & more importantly a list of hopefully enforceable amendments (a forever evolving document) that protect you. In our State I believe it is required (or certainly customary in my market) to provide tenants with a copy of condo association rules so they know what they are. I also write ammendment for instance to define renewal notice periods and how early i can start showing the apt to prospective tenants (60-90days before lease term typically for me).... i can ramble on but please pay and protect yourself. It will be worth every penny in the long run & welcome to Landlordhood!
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