What to add to standard leases

Question

Hello team, I'm sure this has been asked so I apologize, but I'd like to know what you guys are adding to leases beyond what the standard PM has? I want to make sure my PMs are adding all the goodies that allow me more flexibility as a landlord and protecting me. Any tips and tricks are greatly appreciated!

Robert Johnson · Answer

I do not allow photos of my properties or copies of the lease agreement to be posted on the internet without my written permission.   Also, make sure you get a substantial security deposit up front.  I am currently demanding 2 months upfront in addition to the first month's payment.  Any leases of 6 month's or less, 100% payable up front.

Christen G. · Answer

These are all great. Some of ours are: Renter's insurance, HOW to pay rent, HOW / WHEN to tell me that they're terminating tenancy, where to park, where you can't park (the lawn), a bed bug addendum, a mold addendum, expectations of cleanliness of their unit (to be able to thwart off serious hoarding) and common areas, no window coverings/tapestry/sports flags - must be blinds or curtains. Good luck!

Eric Schultz · Answer

@Brandon Baker

Mandatory renter’s insurance is a must in the lease agreement!

For example, an innocent 3 yo flushed baby wipes down the toilet at one of my properties sometime prior to the family leaving for the weekend. His parent’s renter’s insurance covered the $22K in flood damage repairs. My property insurance remained untouched.

Not necessarily a lease inclusion but...

Having a personal / business umbrella policy is always a good idea as a landlord. I also have copies of my property managers’ insurance policies as well.

Insurance can plug those responsibility gaps not spelled out in the lease.

Robert Johnson · Answer

They could use the photos to attempt a sublet.  But if you try to evict them they could use photoshop or some editing program to trash you and your property by claiming there's mold, etc.  on multiple social media sites.   Yeah, it would all be false but you could end up having to  explain the facts to multiple government officials and you don't want that ever.  Besides that,  if they post photos of the property and let others know they are leaving town, it could be vandalized.

Katrina Razavi · Answer

Renters insurance, pet fees and policies around pets and their responsibility to care for them, late payments and terms around that, ability (or not) to sublease or short-term rent the property are a few off the top of my head.

John T. · Answer

I've added some special provisions, such as:

Property Maintenance.  Many tenants neglect to maintain the outside of the property in a good manner.  I added some general property maintenance obligations,  such as keep and maintain the exterior of the dwelling, garage, all out buildings and component parts thereof clean and free of all foreign objects and substances, keep and maintain the driveway, sidewalks, walkways, porches, patios, garage floor and other surface areas clean and free of all foreign objects and substances, keep and maintain the roofs, gutters and downspouts clean and free of all foreign objects and substances, keep and maintain all plots of ground prepared for plants, including the plants grown in such plots, in an orderly, attractive, and healthy condition, keep and maintain all garage door remote controllers in good working order and, at the end of the lease, return all garage door remote controllers to Landlord, and supply and change the refrigerator water filter cartridge, if any, at least every six months or sooner if prompted to do so by the filter change indicator light on the refrigerator.  These are just the introduction to the special provisions.  I go on to described in excruciating detail what their duties entail.  Since this clause mandates certain specific duties for the Tenant, if they fail to perform such duties, I have no trouble deducting the cost from their Security Deposit at the end of the Lease.

Mandatory Renters Insurance. Require a personal liability limit in the amount of at least $300,000.

There are certainly other special provisions that other Landlords use.  I hope they can share a few of their special provisions for you.

Christen G. · Answer

This is interesting - what is the rationale for no photos on the internet - to inhibit subletting?

Brandon Baker · Answer

Thank you all for feedback..I've got some work to do to include these great ideas...

Brandon Baker · Answer

@John T. Thank you!

What to add to standard leases

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