Standard Lease for Little Rock?

8 Replies | Little Rock, Arkansas

BP,

My grandmother is getting ready to lose one of her tenants who is moving away. When she was with us for the holidays we discovered that she has not used a lease for her previous tenants. 

The only way I understand her reasoning for this is because she is old school. 

Can someone please share with me the current Little Rock area standard lease used be Realtors? Or if someone manages their own rentals, perhaps you would share the lease you use with your properties. Thanks in advance!

I am the current President of the Landlord Association in Little Rock. There really is no such thing as a "standard" lease in any given area. I'm a little pedantic about the reference to standards when it comes to contracts. The only state "standard" I'm aware of is the State Board of Realtor's purchase and sale contract, which is not really the space I play in unless I happen to be in a deal where I'm using a Realtor. 

But soapbox aside, I will gladly share my current lease with you. It has been reviewed by a local real estate attorney. There is little in the way of anything specific to Arkansas or Little Rock. Use it and edit it as you see fit. Feel free to contact me directly if you have questions.

Also if interested I can refer you or your grandmother to the local real estate lawyers, there's only a few.

@Paul Thompson I am interested in seeing the lease as I am working on one right now and wondering if I should get an attorney to look at it. I'm in the Fayetteville area. Also am curious about the Landlord Association. Does each town usually have one? Our local REI is meeting next week so I will also ask there. I'm curious---do you do month-to-month leases or 6-12 mo leases?

thanks,

Brenda

@John Powell

Jason Bolden is the lawyer who is in Little Rock, AR that reviewed the lease that is referred to in this above post. His rate is $250/hr. He specializes in real estate law. Not many lawyers in Little Rock (or Arkansas) do that to my knowledge. I've also heard that Rick Sellers in Little Rock, AR is a good lawyer for real estate matters. I've never used his services. However, he is speaking at the Little Rock Landlord Association about the current eviction process in Arkansas (there have been some dramatic changes in the last year). 

The next meeting is January 11th.

We meet on the 2nd Monday of each month at the Keller Williams Building in West Little Rock except in the month of December.

Meeting time is 6:45pm to 7:45pm. Doors open at 6:30 to mix and mingle.

Keller Williams Building

12814 Cantrell Rd.

Little Rock, AR 72223

Full Disclosure: I am the current President of the Little Rock Landlord Association so this post is somewhat self serving.

Originally posted by @Paul Thompson :

@John Powell

Jason Bolden is the lawyer who is in Little Rock, AR that reviewed the lease that is referred to in this above post. His rate is $250/hr. He specializes in real estate law. Not many lawyers in Little Rock (or Arkansas) do that to my knowledge. I've also heard that Rick Sellers in Little Rock, AR is a good lawyer for real estate matters. I've never used his services. However, he is speaking at the Little Rock Landlord Association about the current eviction process in Arkansas (there have been some dramatic changes in the last year). 

 We have used Jason and Rick and have found them both to be honest and competent.  Neither are the cheapest in town, but they get the job done in a very timely manner.  

For what it's worth, I would highly recommend both of them.

@Paul Thompson do you have recs for PM companies in LR? I am looking to acquire 2-3 sfh in LR within the next 2 years but I have not been able to find a PM that I like yet. I would particularly like referrals for any companies that have experience managing in SW LR. I am considering self managing but have some potential conflicts.