Your lease agreements are incredibly important to protect your business. They serve to protect both parties in the agreement and ensure that everyone remains on the same page throughout the rental process. It is important to ensure that your lease agreement includes many various factors.
Names of all Included Parties
It is important to ensure that the names of all included parties are on the lease agreement. For example, if two adult tenants are going to be living in your unit, you need both of their names on the lease. If you only put one of their names on the lease, you may not be able to hold the other tenant legally liable for adhering to the terms of the agreement.
Ensuring that everyone is on the same page regarding the monthly rent is absolutely crucial. You need to include various aspects of the rental payment in the lease agreement. State the rent amount, the due date of the rent, the method in which you want the rent to be paid, and associated fees with late payments or bounced checks.
Term of Tenancy
The term of tenancy needs to be listed on the lease agreement. Without this term outlined, it may be difficult to tell when the agreement needs to be renewed and how long the agreement is good for.
Security Deposits and Fees
Your tenants need to be aware of the security deposits and other fees that may be required. This can help to prevent many disputes further down the line. It is important to include information about security deposits and fees in the lease agreement.
Rules and Responsibilities
There are many aspects that are unique to each landlord and their personal decisions. It is important to have these all listed to ensure that tenants are aware of them. You need to include your policies, such as pet policies, smoking policies, and other considerations. It is also particularly beneficial to list various responsibilities for each party. It is critical to put appropriate thought and consideration into crafting your lease agreement. These are just a few important points that need to be outlined in the agreement. To obtain more information about creating an excellent lease agreement, contact us at the Keyrenter in Chattanooga today!