Cleveland, Ohio Rental Agreement
Hi all,
I am owner-occupying a duplex in Cleveland proper and just listed the other unit. Can anyone point me in the direction of a solid lease agreement that abides by Cleveland restrictions as well as Ohio. I have a lease that I have drafted up but I know that the City of Cleveland has more strict regulations than the rest of the state.
Thanks!
Hey Kiernan, A solid lease agreement is a solid lease agreement regardless of what city you are investing in. Cleveland is not really that different, if you have all the proper verbiage in the lease, then you should be as safe as possible. BP has lawyer approved lease agreements for each state.
Hi @Kiernan Weese ,
@Nicholas Misch makes a great point. I would check out the leases that Bigger Pockets has to offer. If you wanted to take it a step further you could always have a local attorney review it or provide a template for you. Maybe try the attorney that assisted you on the deal.
Another option is to see if your realtor can send you one. That's initially how I got my lease template when first getting started.
One thing to note is that Cleveland limits late fees. The first post I found on Google sums it pretty well:
Fees for Late Payment of Rent (Section 375.02 (c)).The Ordinance creates a maximum monthly amount for any fee for late payment of rent. The maximum amount is the largest of $25. or 5% of the monthly rent for the dwelling unit.