A detailed rental lease agreement is imperative for both landlords and renters alike to minimize headaches down the road. The more thorough the lease to account for any issues that may arise, the better.
I’ve spent the past 10 years refining my residential lease agreement based on all past experiences. Now my residential lease agreement is posted here for all to use at your own discretion. Feel free to run it by a lawyer or other property professionals before use, and make suggestions on how to make it even better.
There’s always a feeling of excitement on both ends when a lease is first signed. Both parties go in with a leap of faith, hoping everything will work out. But conflict is inevitable in any sort of relationship. “Understandings” that are agreed upon with a handshake tend to mean nothing if they aren’t written out when problems arise.
As a Financial Samurai landlord, your goal is to achieve maximum tenant occupancy with minimum ongoing headaches in order to enjoy your freedom. Freedom is what having money is all about. If one of your assets is giving you more headache than freedom, then something must change.
Provide a good product with good service and clear terms, and I’m confident you will reap great benefits down the road.