The Five Lease Must Haves

Day 271/365
Creative Commons License photo credit: thp365

If you’re creating a lease for new tenants there are several things to be considered but no matter what, make sure the following five are included to prevent future problems.

Names
Get the name of EVERY adult tenant who will be living in the rental unit. Even married couples should have the unit rented to both of them rather than just one. There is no end to how much trouble this can cause, just watch one afternoon of televised court shows and you?re bound to see at least one case where getting all names and signatures on the lease would have saved someone some hassle.

Rent
Believe it or not, this part is sometimes skipped and how can a court enforce a rental amount if its not specified in the contract?

Terms
When does the lease start, when does it end. And what are the terms after it’s ended, do you automatically slide into a month by month situation or will a new lease be required.

Security Deposit and Fees
This is the most legally contested aspect between tenants and landlords, and you can save yourself most of the headache by getting everything in writing at the start.

Restrictions
This category sort of runs the gamut but make sure your tenants know what you will allow and won’t, not just pets, but cars abandoned on the property, excessive noise, and anything else you can think of.

By no means are these the only things you should have on your lease agreement but every single one of these should be included in a lease with a new tenant. And don?t for get the signatures!