The lease plays an important role between landlord and tenant. It communicates expectations of both parties and specifies important rules and requirements. The lease addresses basic components such as names of landlord and tenant, rent amount, and lease term. We will cover a few tips on writing a rental lease agreement that will help landlords and tenants.
Know the Law
Each state has their own rental housing laws including the rights and responsibilities of landlords and tenants. Therefore, the lease, at a minimum, must comply with each state’s requirements. A good starting point for landlords is to contact their local housing authority for guidance. Templates are also available online, and they can be a good basis for lease creation. For example, Zillow Rental Manager provides customizable online leases based on rental property location.
With any agreement, it is always best to be clear, concise, and complete. Addressing every component of the lease in specific terms reduces confusion. The goal is to avoid potential misinterpretations such that the lease will hold up in court. The tips on writing a rental lease agreement to be specific and clear may mean shorter sentences and a longer lease. That’s okay if the writing is clear and understood by both parties without question.
In addition to online templates as a starting point, there are other tools available online to help with lease signing. Electronic signature services such as eSignToday make the lease signing process fast and easy for landlords and tenants. They are especially useful when you need multiple signatures, as each person can sign on their own time and eliminate the need for a physical appointment.