“Tips In Making Printable Lease Agreement” written by Mike Marko
Are you planning to use a printable lease agreement?
Property managers use a printable lease agreement to shorten the time involved in preparing a lease agreement.
This premade agreement already contains the necessary terms and policies for renting the property. The user needs only to fill in certain fields on it using his computer, then print the result for a feasible lease document that can be signed by the involved parties.
If you’re planning to use a printable lease agreement too, then you should know what terms and clauses to include in it.
In this blog post, I’ll give you tips for making a printable lease agreement. Let’s see how you can make one that perfectly suits your rental property business.
Using a Printable Lease Agreement
A printable lease agreement will bring convenience to your business because it’s easy to prepare. All you need to do is make minor adjustments so it’ll be suitable for the next tenant.
You can download a printable lease agreement on the Internet. However, we still suggest making some changes to it.
It’s advisable to add the terms and clauses that may be applicable to your property in particular, for instance.
But before we go into that part, let’s first know why you need a lease agreement.
Why Do You Need a Lease Agreement?
A lease agreement is a contract between the tenant and the property manager. It contains all of the terms for renting a property.
Usually, the lease agreement is signed by both parties before the start of the tenancy. Doing this assures the property manager that the new tenant understands the terms for renting the property.
The tenant and property manager’s obligations and rights are written in their agreement.
Without a lease agreement, the property manager and the rental property business are vulnerable to all kinds of lawsuits. There’s very little protecting them — or the tenant, for that matter.
A printable lease agreement changes all that if it’s been signed properly. It becomes a reference that may be used in case of disputes.
Both parties can check the agreement to see who violated the terms if something goes wrong during the tenancy.
Since it’s best to provide a lease agreement to every tenant, property managers may start with a printable lease agreement. As I said earlier, they may simply customize it before signing.
Making a Printable Lease Agreement
The printable lease agreement already contains the important terms and clauses for renting the property.
In most cases, property managers will only do minor changes to the printable lease agreement to make it appropriate for the tenant’s lease.
It’s convenient to include the common terms and clauses for renting the property. Doing this will lessen the time needed to edit the agreement to make it suitable for the next tenant.
Anyway, even if a term or clause isn’t applicable to the situation, it can simply be slashed away by the property manager before the document is printed and signed. Slashing away is easier than addition in this case.
So adding as many clauses as you can to the printable lease agreement from the start is the wiser choice.
While making a printable lease agreement, consider adding the following terms and clauses.
General Information of the Rental Property
All lease and rental agreements contain general information about the rental property. That’s the reason it’s important to add this to the printable lease agreement.
The printable lease agreement should include the address of the property, as well as the names of the tenant(s) and the property manager.
It’s best to describe the property in detail. You can also attach a floor plan or schematic to your rental contract for further specificity.
Give Specific Maintenance Information
The maintenance obligations are often the common cause of misunderstandings between the property manager and the tenant.
That’s why property managers should also include this in their printable lease agreement.
The printable lease agreement should clearly specify who’ll be responsible for fixing the damages in the rental property.
Usually, the tenants are responsible for repairing the damage to their rented property. The property manager only pays for routine repairs not caused by tenant neglect or destruction.
Pet and Parking Provisions
Both residential and commercial properties need to address the topics of domestic pets and parking. These are two of the subjects that often causes disputes among the parties in rental situations.
The property manager will take the blame whenever the tenants argue with one another because of the rental space.
With that said, it’s advisable to set the terms or policies regarding the parking space. Doing this can help in preventing non-renters from using protected parking spaces.
Lease agreements should also state if pets are allowed in the rental property. Many tenants of commercial and residential properties negotiate this with their property managers.
Provide Details for Security Deposits
A property manager often collects the security deposit before the start of the tenancy. Its amount is equal to two months’ rent, generally.
It’s also often used if the tenant fails to pay the rent or caused damage to the rented property.
Now, the details of how you plan to use (or can use) this deposit are among the most important terms to include in a printable lease agreement. Rental laws require a property manager to give details about the return and use of the deposit.
The printable lease agreement should state the use of the security deposit and how you’re going to return it to the tenant.
Moreover, the printable lease agreement should specify what will happen to the deposit if a lease break happens.
The Lease Agreement Should Comply with Rental Laws
When making a printable lease agreement, make sure to check rental laws in your area first. Doing this will help you avoid violating a law out of ignorance.
You can check the rental laws in your local government office or website. But if you don’t have time to look for them yourself, you can try getting help from a lawyer.
Asking a rental lawyer to review the printable lease agreement is advisable. They can look out for issues in your document that you may not be able to find yourself.
Keep in mind that every state has its own specific landlord-tenant laws. You must abide by them in your written printable lease agreement.
Final Thoughts on a Printable Lease Agreement
A printable lease agreement contains all of the important clauses and terms for renting a property.
It’s advisable to create a printable lease agreement because it’s convenient for a property manager. It can lessen the time needed to make a lease agreement for each new tenant.
While making a printable lease agreement, add information about the property, rent, and maintenance obligations. Aside from that, also include details about the security deposit and parking provisions.
When you’re done making your printable lease agreement, make sure to contact a lawyer to review it. Doing this will prevent any violations of rental laws in your area.
If you have more questions about making a printable lease agreement, leave them in the comment section below.
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