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Updated about 7 years ago on . Most recent reply
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Missouri Landlord lease agreement
My wife and I have just started investing in rental properties since doing a lot of reading on bigger pockets. We have purchased our first property and have two more under contract. We are nearing the completion of the renovations we are doing on the first property and will be putting it up for rent soon. On the advice I read on here I have contacted a local attorney who does a lot of evictions and he is preparing our lease agreement. As a first time landlord I want to get this right so my question is, what things are on your lease besides the basics? Is there anything you wish you had done differently or things you changed after doing it for a while? Trying to avoid any headaches and pitfalls that I can. Thank you for the advice.
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Here are a few:
- Drug related criminal activity occurring in or around leased premises is cause for immediate eviction. [Missouri Statute 441.740.1]
- Renter's insurance is required
- Include a "Break-Lease clause." [Either Landlord or Tenant may break the lease by providing 60 days written notice and a set fee to the other party.]
- Smoking is prohibited inside any building on the premises.