What are good clauses to include in lease agreement?

7 Replies

Hello everyone, I will be a new landlord soon (closing soon) of a 2 unit building. I would like to know what items I should include in a smart lease agreement that makes my life easier. I really appreciate your feedback! Thank you!

There are way too many to cover and what is important for my market may not be important for yours. In fact, some of the clauses I use wouldn't even stand up in court in other states.

You can get samples of leases with a google search ("lease agreement Wyoming"). Find a dozen or so from different states and at least three from professional managers in your state. Then read your state law to see how it fits. After you have a good foundational understanding, come back to BP or consult an attorney to deal with specifics.

@Nayan Patel

No changing of locks

Landlord has right to enter with 24 (or other appropriate number) notice

Define guests and how long they can stay. You don't want someone else moving in permanently that you have not screened

Lots of others but those seem to be issues I read about here a lot.

@Nayan Patel the tar lease will pop up if you google it. There is also a texas apartment association lease you could get ideas from...never tried to find it online.

@Nayan Patel . No indications of what state your upcoming purchase is in. 

Suggest you engage an Agent to assist you with finding and screening tenants, and as a minimum prepare the lease for you. 

You can then take over management - if that's your plan!