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Updated almost 14 years ago on . Most recent reply

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Travis Elliott
  • Real Estate Investor
  • Cebu, Philippines
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WHERE DO YOU FIND YOUR LEASE AGREEMENT FORM

Travis Elliott
  • Real Estate Investor
  • Cebu, Philippines
Posted

Hi

I am in need of a lease agreement form in order to rent out a house. I live in Montana so I need an agreement that is legal for this state. Any ideas or thoughts would help.

Thanks

Travis

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

Mitch and Justin made a good point. Gathering several lease agreements and conolidating the best covenants is how most landlords end up with their lease. Mine developed over the years as well.

Not to turn this thread into a list of lease covenants, but something I used for over 15 years is unique and has been adopted in seveeral ways in the area.

I acquired a property that was under an economic development loan that carried with it requirements for making rents affordable. My lease had to be approved by the City Attorney and Economic Development.

I set rents at a fixed rate but devised a method to charge additional rents for unforseen adminstrative functions that may be performed if the tenant did not abide by certain terms and perform responsibilities. Basically, I could fine the tenant monthly for leaving a trash cart at the curb, blocking a driveway, parking on the grass, not keeping the yard in like manner of surrounding properties in the area or allowing personal items to be left in the yard, etc.

Basically what I said was;

For and in consideration of the rents described, Tennat agrees that such amounts are set based on Landlord not being required to perform administartive duties with regard to the enforcement of this agreement. In the event any additional administrative duty is required to correct any infraction of any rule, agreement or default the landlord shall have the right to assess an additional adminstrative fee of $25.00 for each and subsequent infraction reasonably necessary to correct or cure same.
It is agreed that such assessments shall become due and payable upon performance of such duties by landlord and that if unpaid shall become a part of rents then due. In the event any such adjusted rents are not fully paid as rents become due on the date required such non-payment shall constitute a default in rents and the landlord shall have the right to proceed with those cures allowed by law.
Examples of additional adminstrative duties which are unforseen on this date include, but are not limited to, removing trash or debris from the property that is found to be that of the tenant, returning the trash carts provided to tenant to the designated area, answering any complaints in connection with any police call, blah, blah..

While I did not pull my lease out and copy it here, that is close to what was used.

My reasoning for this was that at the time the lease payments were agreed to, it was assumed that the tenant would abide by the rules and not require special attention and if they did, it was fair for me to be compensated for those additional efforts to police the units.

The City Attorney was giddy about it, thought it was great and that I could basically fine the tenant for bad conduct. The lease was approved. It was enforced several times without question and a couple of positive comments by a judge. What will not be allowed is most likely any fee assessed for collection that would normally be made, efforts in connection with taking the tenant to court or related activities norammaly required to do so. But, picking up trash or removing toys from the yard were approved......just an idea you might consider and use if you like.

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