First Rental Lease Ideas

[Steve J.]

Hello All,

I am house hacking my first deal and am in the process of determining what I would like on the lease. I would like to hear what things that might not be common that you guys add on your leases to help protect you?

One idea a friend gave me was having a deductible for repairs so the tenants have some skin of the game. I never would’ve thought of that and think it’s a great idea, so I am curious to hear what things you recommend I look into to add that will help protect me and my new asset!

Thanks

[Michael Robbins]

There are so many provisions to list. Some I can think of off the top of my head: Buy-out agreement, unauthorized roommates, pet addendum, renters insurance requirement, if house is located in HOA then tenant is responsible for any fines, etc...