Real Estate Broker · Granby, CT · Member since 2015 · 694 posts · 317 votes
10y
@Tony Velez I would steer away from the standard "board forms" that are in the link from Kyle above. @Kyle J.Please don't take an offense, but they are so standard and non revisable and offer a very limited contract. Consider doing a little more homework to make sure you are encompassing more than just what is required. Sometimes going a little father can help eliminate risk. Some of my friends out here who know the trampoline story, will tell you that no matter how good your lease is, there are always features that are left out. I have a bunch of SFR's (and some multi's), and who would have ever thought to write "no trampolines allowed.." Well, guess what.. Late spring, I drive by my rental and there is a trampoline on the driveway.. Guess what else, tenant is an attorney... Moral of the story is, do some extra "work" and make your lease bullet proof. My $.02
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
10y
@Rick Santasiere No offense taken at all. In fact, I would agree that a custom lease agreement can often be better than a standard one-size-fits-all one. Especially if that custom lease is crafted within the laws of the local jurisdiction by an experienced landlord-tenant attorney who has actual experience in court enforcing/defending his own lease.
There's a prominent landlord-tenant attorney in my area who wrote his own lease and it's currently up to 33 pages because he keeps revising it to stay within the law and because (after many years spent in eviction court) he's learned what works and what doesn't.
That being said, in my experience, most landlords (especially newer ones) don't have a custom lease drawn up by an experienced landlord-tenant attorney. More often than not, they opt for the generic 2-page one from Staples or just get any old one off the internet. That's rarely (if ever) a good idea.
If someone does want a free one (or one that's easy to obtain online) though, I usually suggest going with whatever one has been approved for use by the local Realtor's Association (or Rental Housing Association in some areas) for several reasons. First, their forms have already been vetted by attorneys and found to comply with the laws of that particular state/jurisdiction. Second, they are standardized (I know, not always a good thing), but because they're standardized they're (generally) consistent throughout that state/jurisdiction and easily recognized, understood and interpreted if and when you ever have to go to court and enforce/defend it.
Ultimately, it just depends on what you're looking for and how much you're willing to pay to get it. If you want the best lease possible and you don't mind spending some money, get a local experienced landlord-tenant attorney to draw it up for you. If you want a free one, use the one your local Realtor's Association (or Rental Housing Association) provides.
Hvac · North Haven, CT · Member since 2015 · 298 posts · 79 votes
10y
Thanks so much for the input everyone. I'm still learning so this is good. My realtor who is also an investor was kind enough to give me a copy of one of his leases.