Here are three pitfalls of online lease templates that you should avoid.
Are you relying on an online lease template for your rental agreements? Today, let’s delve into a few critical aspects of using online templates and highlight key points to watch out for in your lease agreements.
1. Subletting concerns. Always ensure your lease explicitly prohibits subletting without your approval. Unauthorized occupants can pose various risks, from potential criminal activity to your property being Airbnb-ed without your knowledge. Maintain control over your property by clearly outlining who is allowed to reside there.
2. Documentation prior to occupancy. Before your tenant moves in, establish a robust documentation process. Keep a detailed record of the property’s condition, appliances, and overall state. This documentation becomes invaluable when comparing the property’s state upon move-out, simplifying the assessment of damages and ensuring a fair security deposit disbursement.
3. Security deposit disbursement clarity. Security deposit disputes are a common headache in property management. Prevent conflicts by clearly outlining in the lease how the security deposit will be handled. Specify what will be held, any potential deductions for damages, and the disbursement process at the end of the lease term. This transparency can help avoid misunderstandings and legal issues down the road.
These points only scratch the surface of what a comprehensive lease should include. If you’re eager to learn more about creating a robust lease agreement that protects both landlords and tenants, feel free to reach out to me or our team. Crafting a thorough lease is essential for a smooth landlord-tenant relationship and can save you from potential legal hassles in the future.