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Must-haves in lease agreements?
I am getting ready to purchase my first rental property, and am going through the process of what I want my leases to look like. I've heard so many horror stories, and know I am bound to have some myself, but what are some things that can prevent disaster by including in your lease agreement? I will of course also have an attorney approve and give feedback as well. TIA!
#3 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
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#3 Starting Out Contributor
- Flipper/Rehabber
- Pittsburgh
is this a house hack? or a stand-alone rental?
@Nicholas L. this will be a house hack, 2-3 unit
Lease provisions can vary significantly from state to state. For example, the laws in Texas allow me to include specific provisions in my leases that might not be legal in states like New York.
One such provision I enforce is that once a tenant gives notice of non-renewal, I can immediately begin showing the property to prospective renters.
Because its so state-specific I would reach out to a NY landlord, agent or property manger for more geographically specific advice.