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Updated over 1 year ago,
What lease addendums have saved you from disaster?
When I was house hacking in my first rental property, I was not aware of how many potential issues could arise without additional addendums added to my residential lease!
For example, a tenant was mad that I wouldn’t let them terminate their 6 month lease at month 2. Long story short, I now have an early termination clause that clearly outlines potential fees the landlord is entitled to if the tenant leaves early.
The benefit of having a strong lease will save you hours of those "what if" thoughts when an inevitable situation arises at one of your properties. I am not a lawyer or offering any legal advice. I am a landlord and former property manager that has learned a few lessons the hard way!
What addendums have saved you from a disaster in the past?
What addendums have you included to your lease AFTER you had a situation arise?