My aunt, the landlord of a Residential home, is asking me to help her write up a Lease Agreement. I am an agent and have limited experience in Property Management.
Some of her requests include the following (Tenant and LL verbally agreed already):
- Tenant will do all the cleaning and cover the costs before move-in
- Tenant may make home improvements upon LL final approval and city permits
- 3 Month Security Deposit
I did some digging on BiggerPockets. Do I continue using LawDepot or should the LL be using her attorney?
In my opinion, I recommend using an attorney to write the lease. If something should happen to go wrong with the tenant you will be involved in the dispute. Always use caution with leases, to many loopholes in the real estate laws.
What makes you or your aunt think that a real estate agent is qualified to write up a legally binding contract that will properly protect her interests and comply with state laws? the best way to do this is to have lawyer write it up. the second best way is to purchase on online (BP sells state specific leases, prepared by attorneys) and you can always make some modifications to it...but the most important part is to run the purchased lease by a local real estate attorney to make sure it and any additions comply with state law
@Daniel Kim If you are an agent, have you looked at the CAR forms? They have property management forms you can use.