Owner Occupied Duplex Residential Lease

2 Replies | Charlotte, North Carolina

Right, so my folks and I have basically finished repairing a 1920's duplex in the neighborhood of Belmont. I've moved into one side and am loving the area but I need to rent the other side soon to actually start having the building (slowly) pay for itself.

The duplex has almost fully separated utilities except water. That part might be tricky so I'll likely just pay for the water bill on both sides.

The other unit would make a small 2 bedroom but more likely a very nice one bedroom apartment. Extensive work was done to the building with foundation repairs, HVAC, kitchen upgrades, and re-doing bathrooms. I expect a reasonably higher rent per square foot in the area.

So, I just need some advise on how to create the lease. It seems a boiler-plate agreement just might not do the job.

Bonus points for tips in how to include Cozy into the lease. From what I heard from land-lords it's fairly effective at it's job and easy to use.

All of this to cut my teeth on basic property management and having a close eye on the surrounding areas.

Why would a standard lease not work in this situation?  You haven't mentioned anything that would be hard for a standard lease to handle, and even if you did an addendum would probably be a better option.

I just got done leasing my first property in Charlotte. SFR on the far north end. I basically took pieces from the Realtors association 410-T, the Cozy documents that are $99, and other clauses I found. I pretty good at legal stuff even though I am not a lawyer (defended myself in federal court once... and won).

My lease had specific things about smoking, fireplace usage, lawncare, HOA restrictions, etc. Personally I think it's better than much of the other crap I have seen out there.

My clause for Cozy (which I am using) looks like this.

RENT PAYMENT PROCEDURE:

Tenant agrees to pay their rent to Landlord by way of the Cozy online website link provided by the Landlord. Tenant is required to have a bank account or credit card to pay online. Online payments with credit card require an additional transaction fee. Alternatively, rent may be paid to Landlord with certified funds delivered to XXXXXX. Rent shall not be considered paid until actual receipt thereof. Tenant placing rent monies in the mail is not sufficient for rent to be considered paid.

Basically, I want them to pay with Cozy and expect they will.  But, if they have some situation where they can I let them mail or hand deliver funds to me but it must be certified as I won't take a personal check.