Skip to content
×
PRO Members Get
Full Access
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime.
Level up your investing with Pro
Explore exclusive tools and resources to start, grow, or optimize your portfolio.
10+ investment analysis calculators
$1,000+/yr savings on landlord software
Lawyer-reviewed lease forms (annual only)
Unlimited access to the Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

15
Posts
2
Votes
Alex Short
  • Imperial, MO
2
Votes |
15
Posts

How can I find some good tenant rules

Alex Short
  • Imperial, MO
Posted

I am about to rent to my first renter. I have a attached the rules I plan to use. I took them from the previous owner. 

1. What are the issues I am missing.

2. Where can I find rules and leases. 

https://docs.google.com/document/d/1vfiV2Igi3z7ROT...

House rules for 4830 Hamburg Ave

  1. Rent is due the 1st sunday of the month. Someone from “Lake time investing” will be by to pick up money. Make check payable to Lake time investing or pay cash.
  2. You have a 5 day grace period. After that there will be a $50 late fee charged.
  3. If rent is late more than 20 days a $1 a day late fee will be enforced, along with the $50.
  4. In order to have your deposit refunded when you move the house must be in the same condition that it was rented to you. Pictures will be taken of house prior to move in. Missouri State Law requires you to give 30 days advance written notice if leaving.
  5. Problems with the house need to be communicated to Lake time investing ASAP. We are not responsible for repair bills authorized by the tenant.
  6. Televisions, radios, and record players are to be operated in normal hours and at a tolerable volume level. After 10:00PM they must be turned low.
  7. At no time is any material, such as metal, foil, colored sheets or cardboard to cover any window.
  8. Loss or damage to your furnishings or personal belongings is not the responsibility of Lake time investing. It is the responsibility of each resident to obtain their own insurance coverage.
  9. No one shall change the color of the walls unless permission is obtained from Lake time investing.
  10. No additional locks may be placed on any door without prior consent of the Lake time investing. We must be able to obtain entry to your apartment for emergencies. There is a $20.00 lock out fee.
  11. The Health Dept. requires that all trash be wrapped before being placed in trash containers.
  12. The resident is responsible for any broken windows in the house. You must pay for the new window before it can be replaced.
  13. No one shall occupy the house that has not signed the rules. Automatic termination of the lease will occur if someone is found occupying the house that has not signed the rules.
  14. The owner reserves the right to alter, amend, revoke or add to these rules and regulations at any time.

.

Lessee Date

Manager Date Lessee Date 

Most Popular Reply

User Stats

7,341
Posts
10,051
Votes
Mindy Jensen
#1 Questions About BiggerPockets & Official Site Announcements Contributor
  • BiggerPockets Money Podcast Host
  • Longmont, CO
10,051
Votes |
7,341
Posts
Mindy Jensen
#1 Questions About BiggerPockets & Official Site Announcements Contributor
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

@Alex Short , I see several things you may wish to change, based on my experience.

1. Rent should be due on the first of the month, not the first Sunday of the month. I wouldn't pick it up, either. I'd have them mail it. Yes, you'll get the occasional delay or "check is in the mail" excuse, but you need to go there to pick it up. Accepting cash is a bad idea. 

2. I would not give any grace period not required by law. Rent is due on the first and late on the second, regardless of grace periods. I would start the eviction process as soon as the law allows.

3. Check with your state's landlord tenant laws to see how much late fee you can charge.

7. Do you include curtains in this list? I wouldn't rent a place that didn't allow me to put up something to block the sun.

9. I would remove the language about obtaining permission from you and just say they are not allowed to paint, period.

13. I don't think it is enforceable to say automatic termination of the lease will occur.

14. You do not have the legal right to alter, amend, revoke or add to the rules during the lease period. If you have a tenant sign these rules as part of their lease, these are the rules until the lease ends. You can't just change it whenever you want, unless you both agree to the new rules.

Loading replies...