Whenever you’re renting your residential or commercial property to a new renter, it is very important to prepare a written lease agreement. It needs to consist of everything from property manager and renter duties to policies and disclosures, such as the lease term. While it can be more lengthy, drafting a strong lease goes a long method in keeping your financial investment secured.

The specialists at Liberty Real Estate Services have written this guide to help you prepare a comprehensive lease agreement!

Benefits of Drafting a Strong Lease Agreement

Putting in the time to make strong lease arrangements has numerous benefits, including:

Security - An excellent lease arrangement can assist avoid disagreements. It can also act as your security in court. Time Savings - With a clear lease contract, you won’t have to address recurring questions anymore. You’ll just be able to refer renters to the lease contract for responses. More Stability - A strong lease agreement must consist of charges for residential or commercial property damage and late lease. By doing this, you’ll have the security of knowing that your residential or commercial property will be well taken care of, and that the monthly lease will be paid on time. Improved Tenant Satisfaction - Your tenants will have the security of understanding they can remain on your rental for the predetermined period as long as they adhere to the regards to the lease contract.

Do You Need to Hire a Lawyer to Draft a Lease?

Lease contracts are a contract. But you don’t necessarily need to work with a legal representative to compose excellent lease agreements, you can do it yourself.

But you’re a novice property owner or just do not have the time to compose a lease, you can hire a residential or commercial property management business to do it for you. These business often have attorneys on their team that focus on residential or commercial property law and rights as well as drafting strong rental arrangements.

How to Write a Lease Agreement

All rental residential or commercial properties are different so, each lease contract will have various clauses. But the basic points every lease should have are the following:
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Names

Every contract must consist of the full names of all the celebrations included, meaning the renters and property owner.

Description and Address of Rental Residential Or Commercial Property

The complete address of the residential or commercial property ought to be consisted of in the lease arrangement. If it’s a house or multi-family dwelling, you’ll need to consist of the building and system number.

You should also define the kind of residential or commercial property you’re leasing out, in addition to any additional information about it. This can include details about designated parking or any guidelines relating to occupants not being permitted to gain access to specific areas.

Regard to the Tenancy

You can rent out your rental residential or commercial on the short term, on a month-to-month basis, or for the long term. No matter what you decide, you must include the term of the occupancy on the lease agreement, since the renter needs to respect it throughout their lease term. Make certain to define the start date, occupancy length, and termination date.

Price of Rent

The cost of rent need to be defined in figures and words to avoid confusion. Apart from monthly rent amount you must specify:

- Payment approaches you accept. For circumstances, if you just accept checks, you need to state so.

• Whether you charge any late fees. Make sure to likewise include the charge quantity and the grace period you give on late payments.
• Additional fees. These can include pet costs and the down payment quantity.
• Rent due date. Specify the date of paying rent to prevent misunderstandings.
  
  Mandatory Disclosures
  
  Landlords are obliged to make sure disclosures to occupants. In Georgia, for instance, landlords should disclose:
  
  - If there’s a risk of lead-based paint on the residential or commercial property.
• The names and contact info of all people managing the rental.
• If the residential or commercial property is at threat of floods or has flooded in the past.
  
  The very best way to abide by this element of landlord-tenant laws is to include any compulsory disclosure in the lease agreements.
  
  Additional Clauses and Policies
  
  Every lease agreement will consist of various policies. But some basic clauses you must consider adding to your all leases are:
  
  Subletting
  
  You must define whether a renter can sublet their rental to somebody else at any point. Some landlords permit it however consist of particular stipulations about in the lease, If you protest it, it’s best to specify it plainly in the lease.
  
  Tenant Obligations
  
  To make sure that tenants take correct care of your home, you can define the responsibility they ought to satisfy. This can include basic upkeep jobs to avoid tenant damage and things like appropriate noise policies.
  
  Breaking of the Lease
  
  Have a look at your local landlord-tenant laws and make certain to consist of the legal reasons for which both parties might end the lease early. If you’re including an early lease termination clause, then list the boundaries renters need to follow for it to use.
  
  Renewal Terms
  
  To ensure your residential or commercial property is constantly secured, it’s a good concept to make renewal screening checks a basic practice in all your leases. Detail what the process will include.
  
  Down payment
  
  Renters can know where you’re saving their down payment. So, make sure to describe this on the lease. Additionally, you can consist of the requirements renters should meet to get their full down payment back at the end of the tenancy.
  
  Signatures of All Parties
  
  Finally, due to the fact that it’s a written contract, your lease arrangement ought to be signed by you and your renters. This suggests that both celebrations have a clear understanding of the terms of the lease and accept respect them.
  
  Drafting a strong lease is the most effective method to keep your residential or commercial property safeguarded from liabilities. Now, you know that a strong rental arrangement ought to include key details such as the name of the parties involved, the price of rent, the regards to the occupancy, subletting stipulations, and obligatory discloses.
  
  If you require help composing a solid lease arrangement for a leasing in Hinesville, GA, contact Liberty Real Estate Services! We supply full-service residential or commercial property management Hinesville GA options to assist lower residential or commercial property owners’ stress and maximize their ROI. Contact us today to get more information about the advantages of our services!