- Parties to the Lease
The lease should include every adult who will occupy or live in your property, including both members of an unmarried or married couple over the age of 18. This enables you to make each member legally responsible for the terms, such as proper payment of rent and use of the space.
You can also get your rent from the other parties if one of them fails to pay the rent. Additionally, you can terminate the lease if any of the breaks any of the listed terms.
- Description of Property
You need to identify your property in order to enforce the lease. We will include the name of your property or the full mailing address including house number, apartment number, street name, city, postal code and so on.
We can also mention the number of rooms and other details to make it foolproof.
- Term of Tenancy
The rental term defines the period for which the lease is valid. We use exact dates of start and termination of the lease to avoid any confusions. We never make the mistake of using vague statements like the lease is valid for one year or six months.
We will include the exact day, date, month and year when the lease begins and expires. You can also make your lease automatically convert to month to month basis after the original term is over. The terms can also include how you and the tenant can end the lease before the termination period. For example, you can terminate a lease by giving a month's advance notice.
- Terms of Rent
We include the exact dollar amount of rent due to you for the lease. The document will include the full amount of the rent due for the lease period and also month to month breakup of the amount. The terms of rent will also include other clauses such as-
- The date when the rent is due (can be the 1st of a month)
- Ways to pay the rent, where it should be sent, how will it be accepted (for example, check or bank transfer)
- Fees for late payment of rent and the late fee
- Grace period for late payments
- Charges for the dishonor of checks
We ensure that the terms of rent are clearly spelled out and clear to both the landlord and the tenant.
- Deposits and Fees
Deposit fees often create a problem between the parties in a lease. We include all terms of deposits and fees in clear terms to help you avoid any confusion or legal hassles. Your lease can include the following terms related to deposits-
- The exact dollar amount of the security deposit
- The date of collection of the security deposit
- Details of bank or institution where the deposit is kept
- Rate of interest applicable and whether it is payable to the tenant
- Conditions for the use of security deposit (maintenance and repair)
- Conditions for the use of security deposit by the tenant (they can adjust it with the last month's rent)
- How the deposit will be returned to the tenant after the lease termination
- Inclusion of any non-refundable fees
- Terms of Occupancy
You have the right to know and limit all the people who are going to occupy your property. This ensures that your premises are occupied by tenants you have screened and prevents others from living in. We will get the lease signed by all the parties whom you agree to let in your property.
The terms of occupancy can be used to evict a tenant who has moved in a friend or sublet it without your permission.
- Pet Details
It's your choice whether you allow your tenant to have a pet or not. Whatever the case may be, the details should be included clearly in the agreement. If you do allow pets, then you should mention terms such as-
- Restriction on the species, numbers and their size
- Additional requirements like where pets are allowed to venture
- Any extra deposit needed for allowing pets
- Repairs and Maintenance
We ensure that the lease explicitly contains the respective responsibilities of both tenants and landlords for repairs or maintenance. This enables you to avoid any disputes over holding of security deposits or rent. Some common terms that we include are-
- Responsibilities of the tenant to keep the property hygienic and clean
- Payment of damages caused by tenant's negligence or abuse
- Responsibility of the tenant to notify you in case of any dangerous conditions
- The procedure for conducting repairs and handling complaints
- Limitations on tenant made alterations or repairs to the property (like painting of walls)
- Restrictions on Illegal Activities
To keep yourself safe from lawsuits and legal hassles, we suggest you to include terms to limit disruptive or illegal behaviors. For example, you can set rules on noise after 10 p.m., prohibit activities like drug dealing and so on.
- Right of Entry
You should mention in your agreement the terms related to accessibility of your property. You can have the right to enter your property by giving advance notice for inspections or repairs.
- Nature of Commercial Lease
If you are developing a commercial lease, we can optimize the terms to ensure a higher up-front profit. We also create commercial leases in a way that most responsibility of paying charges and bills is on the tenant.
Based on your preferences, we can develop different type of commercial leases-
- Single-net leases where the tenant takes the responsibility of paying property taxes
- Double-net leases where the tenant pays the property tax and insurance
- Triple-net leases where the tenant pays for property tax, insurance and maintenance
- Gross leases where the tenant only pays the rent
- Additional Clauses
You can also choose to include any additional terms you want for your tenants. Some of the extra clauses can be-
- The right to renew the lease by the tenant after its expiry
- Terms for subletting the property by the tenant
- Any rules regarding the use of parking space
- List of possessions you don't want in your property like grills or water beds
- Any additional rules for using and occupying the property