A well-drafted rental agreement is one of the most important documents for a hassle-free lease. It must cover all the necessary information and should be written in a simple, straightforward, and understandable manner. Failing to include crucial points can leave room for misinterpretation, which may lead to disputes between the parties.
Based on our experience, here are some of the important points that must be included in a Temple City Rental Agreement:
Details of The Property and Both the Parties
The lease should include basic details about the property, such as the address, the type of property, the utilities, the appliances, and all other items you, the landlord, have placed in the house. It should also specify the name and contact details of the landlord and every tenant living in the house at the beginning of the agreement.
Rent And Security Deposit Specifications Of Temple City Rental
Rent and security deposit specifications also form an essential part of the lease. The lease must explicitly mention the amount of security deposit, the rent, the due date/s, and the mode of payment. If you accept payment through the mail, you should provide the proper address where you’d like it to be delivered. Similarly, for online payment methods like credit cards, ensure that you provide the accurate account number or the link for payment. If you are allowing pets in your house, you must also specify the pet charges in the agreement.
Duration Of the Lease And The Early Termination Clause
Another essential particular that should be added to the lease is the start and the end date of the agreement. If it is a month-to-month agreement, it can be broken at any time. However, if it is a yearly agreement, the clauses are different. To deal effectively with instances of early lease termination, you should add the early termination clause. It should specify the repercussions that the tenants will face if they break the lease early. Don’t forget to specify the expected notice period for you and the tenants in case of early termination.
Tenancy Rules and Regulations
Stating the rules and regulations of using the property in the agreement helps the renters gain clarity about their responsibilities. It lets you convey your expectations from the tenants regarding the rental. You can include the rules related to noise, property damage, allowing guests on the property, cleanliness and maintenance responsibilities, and the use of appliances. Additionally, you must also specify the penalty for the breach of rules and the damage liabilities.
An addendum is an additional list of regulations added at the end of the lease. Both you and the renters should agree upon the lease addenda. There are different types of rental addendums such as:
Important Disclosures That the Temple City Landlords Should Make
Most landlord disclosures are typically state-mandated. You must notify the tenants if there are any hazards or potential threats like lead-based paint, mold, asbestos, or if the property was used to manufacture any hazardous chemical substances and has not been sanitized. According to Megan’s Law, there should also be a disclosure to know if there is any individual with a criminal record residing in the neighborhood. The disclosures are for the safety of the residents, and hence, they must be mentioned without fail in the agreement.
Not adding important clauses in the lease can lead to troubles during the tenancy or even land you in court. It would, therefore, be beneficial to have a property manager by your side to assure that all the important details are listed precisely on your rental agreement.
Consult a trusted company like ZenPro Property Management. We have experience working in the real estate business for over 18 years and can help you easily draft a watertight rental agreement.
For further assistance, contact us at ZenPro Property Management.