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Updated about 7 years ago on . Most recent reply

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Cameron Marmon
  • Investor
  • Richardson, TX
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TX Assoc. of Realtors lease - GOOD or BAD?

Cameron Marmon
  • Investor
  • Richardson, TX
Posted

Hi all, I have decided to rent my current home out once I purchase another. The realtor I am using to find my new home is also going to lease my current home. She sent me the completed lease agreement on the TX Assoc. of Realtors form. In y'alls opinion, is this lease good or does it have holes that could lead to issues? I am trying to decide if I need to draft my own lease or not?

Thank you

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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Replied

@Cameron Marmon   The TAR lease one could argue is about as good as it gets.  If I remember right about 14 pages vs 8 for the sales contract.  Often when we see a deficiency in the lease we'll update the wording or add another paragraph or tweak.   

That said....it's really only as good as the tenant.  You can have the tightest lease in the world and if the tenant wants to move out mid-lease or park 3 cars instead of 2, or get 3 parrots, when the lease says no pets....I think tough to enforce.   My guess if the tenant is paying you $1500/month and on time and they get 3 pets...and you try to evict and they want to fight, most judges will not side with you.    That's the reality.

I've got a friend that uses a two page lease.  Probably wrote it himself.  It's pretty simple.  You pay rent...you take care of the place, if you don't you need to move out.   All are month-to-month.  His thought is...you cause me problems....call too much, bother the neighbors, don't take out the trash, get a big dog, or whatever, he raises the rent the next month, you don't want to pay it, then you get to move out.   Interesting concept and thought process vs. most people.

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