I am about to sign my first lease on my Louisville, CO property this weekend. I would like your suggestion for a lease template. Thanks
LEASEBASIC RENTAL AGREEMENT OR RESIDENTIAL LEASE
This Rental Agreement or Residential Lease shall evidence the complete terms and conditions under which the parties whose signatures appear below have agreed. Landlord/Lessor/Agent, _____________________________, shall be referred to as "OWNER" and Tenant(s)/Lessee, _____________________________, shall be referred to as "RESIDENT." As consideration for this agreement, OWNER agrees to rent/lease to RESIDENT and RESIDENT agrees to rent/lease from OWNER for use solely as a private residence, the premises located at _____________________________________________in the city of __________________________________.
1. TERMS: RESIDENT agrees to pay in advance $______ per month on the ____ day of each month. This agreement shall commence on _____,___ and continue; (check one)
A.__ until _______, ___ as a leasehold. Thereafter it shall become a month-to-month tenancy. If RESIDENT should move from the premises prior to the expiration of this time period, he shall be liable for all rent due until such time that the Residence is occupied by an OWNER approved paying RESIDENT and/or expiration of said time period, whichever is shorter.
B.__ until ____________, ______ on a month-to-month tenancy until either party shall terminate this agreement by giving a written notice of intention to terminate at least 30 days prior to the date of termination.
2. PAYMENTS: Rent and/or other charges are to be paid at such place or method designated by the owner as follows _____________________________________. All payments are to be made by check or money order and cash shall be acceptable. OWNER acknowledges receipt of the First Month's rent of $__________, and a Security Deposit of $__________, and additional charges/fees for ______________________________, for a total payment of $__________. All payments are to be made payable to __________________________________.
3. SECURITY DEPOSITS: The total of the above deposits shall secure compliance with the terms and conditions of this agreement and shall be refunded to RESIDENT within _____ days after the premises have been completely vacated less any amount necessary to pay OWNER; a) any unpaid rent, b) cleaning costs, c) key replacement costs, d) cost for repair of damages to premises and/or common areas above ordinary wear and tear, and e) any other amount legally allowable under the terms of this agreement. A written accounting of said charges shall be presented to RESIDENT within _____ days of move-out. If deposits do not cover such costs and damages, the RESIDENT shall immediately pay said additional costs for damages to OWNER.
4. LATE CHARGE: A late fee of $_____, (not to exceed ___% of the monthly rent), shall be added and due for any payment of rent made after the ____________ of the month. Any dishonored check shall be treated as unpaid rent, and subject to an additional fee of $_________.
5. UTILITIES: RESIDENT agrees to pay all utilities and/or services based upon occupancy of the premises except ____________________________________.
6. OCCUPANTS: Guest(s) staying over 15 days without the written consent of OWNER shall be considered a breach of this agreement. ONLY the following individuals and/or animals, AND NO OTHERS shall occupy the subject residence for more than 15 days unless the expressed written consent of OWNER obtained in advance __________________________________________________.
7. PETS: No animal, fowl, fish, reptile, and/or pet of any kind shall be kept on or about the premises, for any amount of time, without obtaining the prior written consent and meeting the requirements of the OWNER. Such consent if granted, shall be revocable at OWNER'S option upon giving a 30 day written notice. In the event laws are passed or permission is granted to have a pet and/or animal of any kind, an additional deposit in the amount of $_________ shall be required along with additional monthly rent of $_______ along with the signing of OWNER'S Pet Agreement. RESIDENT also agrees to carry insurance deemed appropriate by OWNER to cover possible liability and damages that may be caused by such animals.
You may try to contact your local property management groups and ask if they'll share theirs with you. I highly recommend getting intimate knowledge of that lease because it is the only thing you have on your side when tenants go bad. You probably did heavy research before buying your rental and you should do as much or more research at the lease level. Ultimately, the way the property is managed is more important than the way you bought it.
Bryan O., Note Capital | http://www.notecapital.us
Thanks for your feedback and the form. I will make it sure it meets the local laws.
@Navin Naik I realize I'm a bit late to the party and you have probably already found something to use. Perhaps someone will come along later and find this helpful. Many local attorney's that specialize and landlord representation have a boiler plate lease they share with their clients. The key is to sign up to be their client. Usually you have to give them a retainer to do this. After that, you get a copy of their boiler plate lease. Great place to start.
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