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Updated about 11 years ago on . Most recent reply

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1,451
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Sam Leon
  • Investor
  • Fort Lauderdale, FL
462
Votes |
1,451
Posts

Tightening up my lease agreements

Sam Leon
  • Investor
  • Fort Lauderdale, FL
Posted

I am reviewing my current lease agreement in preparation for a new tenant later this week.

Over the past few months I have a few occasions where I read discussions here where I noted to amend my own lease when it comes time to renew or sign a new lease. Things I think my current lease does not have tight enough provisions to address some of the situations.

Would some of you care to share the specific languages in your lease for the following:

(1) Conducting business. Right now all that is is "Tenant shall use the Premises only for residential purposes". I would like something more explicit that discourages things like psychic palm readings, private piano or belly dancing lessons, massage sessions, hair and nail services, baby sitting except for friends and family etc...

(2) Late fees and other charges. Some here mentioned that if tenant sent in rent without late fees or bounced check charges or whatever, they would use the money for those first, thus resulted in a partial rent payment, and this becomes a snowball month after month. Would like to see the clause on how the payment is allocated in what order and what happens if rent is short.

(3) Someone had a tenant in jail. Not sure this is covered by the abandonment

Thanks in advance.

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