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Updated over 10 years ago on . Most recent reply
![Siye Baker's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/184418/1724004038-avatar-sessna12.jpg?twic=v1/output=image/crop=1080x1080@0x226/cover=128x128&v=2)
My lease terms...feedback appreciated
I am trying to be as careful as I can. The brief points are:
1/1 condo. Nice area only one vacant of ~60 1/1 units
market rent $850-$925
$880 firm
Fees-->Repairs--->Rent
postlets,padlets,CL ad (photos, building, but specific unit#)
screen over phone
arrange a group showing for prospective tenants
smartmove.com ($25 app fee(Cash), $15 per additional adult)
call 2 previous landlords and employers
i must be notified before any service call
no unauthorized work(no work for rent)
clogged plumbing will be tenants' cost
initially month/month least----------> 1st/last/ security
payment by ach or deposit to bank
due 1st, late afterwards
1 day grace
$50 late fee after 2nd business day....$5 each day after
no pets/smoking
monthly inspection
move-in report signed
holding deposit prorated if longer than a week....carried over to deposit if lease signed
rent history(no evictions, foreclosure on case-by-case)
gross income 3x minimum
waterbed----> renter's insurance with me listed for payout
not fish tanks or containers exceeding 5Gal
upon vacating: security deposit will be subject to move-out report and pending utilities
this will be a trial period, after tenant has a good track record with me then I will commit to a 1yr lease with all adults on lease jointly and severally(no more than 2)
Let me know if i have missed anything, and I appreciate all who have taken the time to read this!
Sebastian