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Signing the Rental Lease.
by Don Conrad
Of course, once you have your tenant choice made, the renting of the unit is not official until they have signed your lease. Following are some important points to remember when this lease signing takes place:
- All parties who will sign the lease need to be present when you review the lease. This includes cosigners. My lawyer recommended everyone over 18 who will reside in the dwelling sign the lease.
- I recommend having at least two copies of the lease at lease signing: one for you to read and one for the tenants to follow. You may want one for all responsible parties. Know your lease so that you can review each and every topic covered in that lease. This may require a call to your lawyer or some reference digging to learn what some specific, hard to understand areas really mean.
- Cover each topic one item at a time. Speak slowly and don’t get so long winded you lose the concentration of the tenants.
- Do not move to the next topic of the lease until everybody understands the previous topic.
- Do not leave blank spaces on the lease to be filled in later. This is unprofessional of you and unfair to the tenant.
- Once the whole lease has been reviewed, double-check that all parties have no unanswered questions.
- Once all parties understand the lease, have everyone sign and date one copy for you and one for the tenant. The tenants should also initial each and every page of the lease.
Once you get back to your home or office, make a back up copy of the signed lease in case the original gets destroyed. Keep one copy in the tenants file, and the other in a safe place far removed from the first copy.
If you would like further infomation on leases, please visit the articles page on my website at:http://www.findthatqualitytenant.com
Read more landlording and real estate investment articles
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If you would like further infomation on this topic, please purchase my book "How to Find That Quality Tenant". Ask your locale bookstore or see my website at: www.findthatqualitytenant.com
I am not a lawyer, therefore, if you have any legal concerns with anything in this article, please contact the appropriate legal counsel.
The above article may be reproduced without my permission under the following conditions: author name, website, and contact information must accompany article and be prominently displayed, and the article must be reproduced in it's entirety.
Thank You. Don Conrad
Copyright 2006 Blue Collar Publishers
www.findthatqualitytenant.com
e-mail: donconrad@findthatqualitytenant.com
phone: 1-888-452-0765
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Tip of the Month
August 2008 |
Discrimination is a serious issue. As you are looking for quality tenants, it is important to keep away from issues protected by the Fair Housing Laws. Under the Fair Housing Act it is illegal to refuse to rent to someone based on their race, color, creed, national origin, religion, sex, family status, or disabilities. Absolutely stay away from these issues when searching for tenants. I can tell you for a fact, none of these issues are determining factors on your tenant being a "good tenant" or a "bad tenant".
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