Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
2y
@Kevin Kim Find the time and build your own lease. Tons of clauses, tips, and advice in the forums. Search for it and use it. Investors should do this so they can learn and remember the clauses. It's a living document. Every time you place new tenants you're reviewing it and "tweaking" things. This is wildly important if you're handing the PM.
If you plan to hire that out then it falls on the PM company. You need to screen them and ask the important questions no different than tenant. Best of luck.
@Kevin Kim Find the time and build your own lease. Tons of clauses, tips, and advice in the forums. Search for it and use it. Investors should do this so they can learn and remember the clauses. It's a living document. Every time you place new tenants you're reviewing it and "tweaking" things. This is wildly important if you're handing the PM.
If you plan to hire that out then it falls on the PM company. You need to screen them and ask the important questions no different than tenant. Best of luck.
Thank you for your reply.
I have studied and drafted a few important clauses, which I asked the lawyer to translate into legal language, including must-have clauses for a California lease agreement. Since I lack a legal background, I don't want to risk handling it myself, especially for our first rental. Once we have a solid lease agreement in place, I'm confident we can make any necessary tweaks. Thank you.