Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
9y
They can be as simple as you want. Lawyers changed what could be a one page agreement into a 14 page mess (state/org depending)
That said best to use propagated leases.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
9y
They can be as simple as you want. Lawyers changed what could be a one page agreement into a 14 page mess (state/org depending)
That said best to use propagated leases.
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
9y
Get one done right. What you think may be good MAY cause trouble. For example, if you put "pet deposit" you cannot necessarily keep it. Pet FEE belongs to you. What about handling of security deposits? What about state required disclosures? If you know ALL these things, sure, write your own. If not, consider a state sanctioned lease from your state association. Don't scrimp on a few bucks make sure you get it done right. Also, find your state landlord-tenant statutes, print those out, and get familiar with them.
In my area no lease at all is much better than a poorly written one. Either have something professionally done by a competent person or organization familiar with rental laws or go without a lease and fall back on the default statutes of your state.
An "illegal" lease that contains language that conflicts with rental laws can be a train wreck, especially if you have to take it to court for an eviction.
Having a solid lease doesn't necessarily mean you have to spend a lot of money either. See if there is a local landlord association that provides one or network with other LL's in your area to see if any are willing to share. Just be careful, though, as there are more bad leases out there than good ones.