Yes, the rental lease agreement is the single most important legal document you have to protect yourself and the tenant.  If it’s not in writing, it just doesn’t count.  A handshake is difficult to enforce.

I get calls daily from landlords telling me of issues with their tenants.  They say the tenant is doing this or that, and want to know if it’s grounds for eviction.  I always ask them is that issue covered in your lease agreement.

Your lease should spell out terms and conditions clearly for both parties to understand.

Let me show you some of the must have points in your rental lease agreement.

• Abandonment: Landlord remedies when Tenant abandons the premises.
• Alterations & Repairs: Rules governing Tenant alteration of the premises.
• Assignment and Sub-letting: Terms of leases often apply to the sub-lessees.
• Default / Breach: Remedies for tenant breach, including failure to pay rent.
• Inspection & Landlord Access: When, and how, landlords may enter the premises.
• Lawful Use of Premises: Tenant’s right to possession and its limits.
• Lead Paint Disclosures (42 U.S.C. § 4852d) Each state-specific residential lease agreement also contains federal lead hazard disclosure statements as required by 42 U.S.C. § 4852d. For a free EPA pamphlet, please visit http://www.hud.gov/offices/lead/disclosurerule/
• Maintenance: Who is responsible and how maintenance is defined.
• Parking: Included or not?
• Rent & Late Fees: When, and how, to collect late fees.
• Security Deposit: Legal maximums and number of days to return to Tenant.
• Tenant Hold Over: Landlord remedies for unlawful retainer.
• Termination of Tenancy: Notice required varies from state to state.
• Utilities: Who must pay to keep the lights on?
• Surrender of Premises: How and when Tenants give up occupancy.

Once difficult, now easy. Create your own rental lease agreement
It’s easy to create your own rental lease agreement with Renting Authority.

Click the link below and follow the simple step by step process. It is stored online for future reference and you can edit it too. www.rentingauthority.com/lease/lease.php

If you need help, you can always call or use the online chat line.  I want to show you how easy it is to create a customized lease.  If you will let me.
Click here to start the process https://www.rentingauthority.com/lease/lease.php
View a sample lease at www.RentingAuthority.com under Rule Number 4

Here are a few of the additional features of Renting Authority’s rental lease agreement

• Rent/lease apartments, condos, basements, houses, etc.
• Select various fixed and periodic terms
• Choose number of tenants
• Flexibility with utilities, pets, insurance, parking, rent increases, signing incentives, rent to own, maintenance, and tenant improvements

Log into your account and see what’s new
www.toolbox.rentingauthority.com

To your success,
Troy Boldt

888-674-9181
tboldt@RentingAuthority.com
www.RentingAuthority.com

Welcome back!

Landlord Extorted for $12,000

Consistently using a standard application can protect you from costly lawsuits. Let me give you an example why. Let’s say you need to rent an apartment. You have 5 individuals come by and look at the apartment. You choose applicant number four. It sounds like he has a great job and is clean cut. A few weeks later you get a phone call from applicant #2’s attorney. He claims that you discriminated against his client because she is a Mexican and has two children. The lawyer goes on to state that he will settle for $12,000 or he will take it to federal court and sue you for $55,000.

    Unfortunately, you have no documentation from the applicants. You have nothing standardized like an application or credit and background report to support your decision. The attorney knows this and knows he can win a settlement.

    Your insurance company will settle for $12,000 because they know the expense of going to court and the probability of loosing. They know you have no documentation and are very exposed. If you really want to protect yourself, please do the following.

    Using a standard application and running a background and credit check for all prospective tenants can greatly help limit discrimination lawsuits. Lawsuits are very expensive and time consuming. Store the application, either electronically, or a hard copy in a secure filing cabinet. Run a background and credit check

Who wants to get sued? None of us, so please take every precaution. Prevention is the best medicine.

Have a great day,

Troy Boldt  

www.rentingauthority.com