Whenever you're leasing your residential or commercial property to a new tenant, it is essential to prepare a composed lease agreement. It should consist of everything from proprietor and tenant obligations to policies and disclosures, such as the lease term. While it can be more lengthy, drafting a solid lease goes a long method in keeping your investment safeguarded.

The professionals at Liberty Real Estate Services have actually written this guide to help you prepare a comprehensive lease contract!

Benefits of Drafting a Strong Lease Agreement

Taking the time to make strong lease arrangements has lots of benefits, consisting of:

Security - An excellent lease contract can help prevent disagreements. It can likewise act as your protection in court.
Time Savings - With a clear lease contract, you will not have to address repetitive questions any longer. You'll merely have the ability to refer tenants to the lease contract for responses.
More Stability - A strong lease agreement must include penalties for residential or commercial property damage and late rent. By doing this, you'll have the security of understanding that your residential or commercial property will be well looked after, which the regular monthly rent will be paid on time.
Improved Tenant Satisfaction - Your tenants will have the security of understanding they can remain on your rental for the agreed period as long as they adhere to the regards to the lease contract.

Do You Need to Hire an Attorney to Draft a Lease?

Lease contracts are a contract. But you do not always need to work with a lawyer to write good lease agreements, you can do it yourself.

But you're a newbie property owner or just don't have the time to compose a lease, you can employ a residential or commercial property management business to do it for you. These companies often have attorneys on their group that concentrate on residential or commercial property law and rights along with drafting solid rental agreements.

How to Write a Lease Agreement

All rental residential or commercial properties are different so, each lease agreement will have various stipulations. But the fundamental points every lease should have are the following:

Names

Every agreement must include the full names of all the parties included, suggesting the occupants and property owner.

Description and Address of Rental Residential Or Commercial Property

The full address of the residential or commercial property must be consisted of in the lease contract. If it's a house or multi-family residence, you'll have to consist of the structure and unit number.

You should also specify the kind of residential or commercial property you're leasing out, in addition to any extra information about it. This can consist of info about designated parking or any guidelines concerning tenants not being allowed to gain access to certain areas.

Regard to the Tenancy

You can lease your rental residential or commercial properties on the short-term, on a month-to-month basis, or for the long term. No matter what you choose, you should include the term of the occupancy on the lease arrangement, given that the renter needs to respect it during their lease term. Make sure to specify the start date, tenancy length, and termination date.

Price of Rent

The price of lease should be defined in figures and words to prevent confusion. Apart from regular monthly lease amount you ought to define:

- Payment methods you accept. For circumstances, if you just accept checks, you require to state so.
- Whether you charge any late charges. Make sure to also include the fee amount and the grace period you provide on late payments.
- Additional costs. These can consist of animal fees and the down payment amount.
- Rent due date. Specify the date of paying lease to avoid misconceptions.

Mandatory Disclosures

Landlords are required to ensure disclosures to renters. In Georgia, for example, property owners need to divulge:

- If there's a threat of lead-based paint on the residential or commercial property.
- The names and contact information of all individuals handling the leasing.
- If the residential or commercial property is at threat of floods or has flooded in the past.

The finest way to adhere to this aspect of landlord-tenant laws is to include any mandatory disclosure in the lease agreements.

Additional Clauses and Policies

Every lease agreement will consist of different policies. But some standard clauses you must consider adding to your all leases are:

Subletting

You ought to define whether an occupant can sublet their rental to another person at any point. Some property managers enable it however consist of specific clauses about in the lease, If you protest it, it's best to specify it clearly in the lease.

Tenant Obligations

To make sure that occupants take appropriate care of your home, you can define the responsibility they should fulfill. This can consist of fundamental maintenance jobs to avoid tenant damage and things like appropriate sound policies.

Breaking of the Lease

Have a look at your local landlord-tenant laws and ensure to include the legal reasons for which both celebrations could end the lease early. If you're consisting of an early lease termination provision, then note the boundaries renters should comply with for it to use.

Renewal Terms

To guarantee your residential or commercial property is always protected, it's an excellent concept to make renewal screening checks a basic practice in all your leases. Detail what the process will consist of.

Security Deposit

Renters deserve to understand where you're keeping their security deposit. So, make certain to discuss this on the lease. Additionally, you can consist of the requirements occupants need to satisfy to get their complete down payment back at the end of the tenancy.

Signatures of All Parties

Finally, because it's a written agreement, your lease agreement should be signed by you and your renters. This suggests that both parties have a clear understanding of the terms of the lease and concur to respect them.

Drafting a strong lease is the most effective way to keep your residential or commercial property secured from liabilities. Now, you know that a solid rental contract needs to include key info such as the name of the celebrations included, the rate of lease, the regards to the occupancy, subletting provisions, and necessary reveals.

If you require help composing a strong lease contract for a rental in Hinesville, GA, contact Liberty Real Estate Services! We offer full-service residential or commercial property management Hinesville GA solutions to assist decrease residential or commercial property owners' tension and maximize their ROI. Contact us today to read more about the advantages of our services!