Make Sure You Cover These Items In Your Orange County Rental’s Lease Agreement

As an investment property owner, there are many things you need be sure to include in your renter’s lease agreement. By having an iron-clad lease, you will be able to avoid costly consequences down the road. In our latest post, we discuss several things you need to be sure to include in the lease agreement of your Orange County property. 

While most agreements are boilerplate, there are a number of things landlords will forget to include in their lease agreement that can come back to bite them later down the road. It is ok for your lease to be lengthy. Being detailed will save you from any questions or discrepancies that may arise with your tenants. A detailed lease will protect both parties in the long run.

Key Things To Include

The Fundamentals

Every lease agreement should include the obvious fundamentals such as the full names of all tenants occupying the property. The property’s address, lease terms, amount of rent, due dates, and penalties and fees for things such as breaking the lease or late payment of rent. You should also include the payment procedure and methods of payment you will accept as to avoid any confusion about getting your money.

Occupancy Limits

You should boldly state exactly how many people are allowed to live in the house. Every resident needs to be on the lease. You don’t want to find out there are 10 people in your two bedroom house. You can even make notes about limiting overnight guest. If someone is spending every night there, their name needs to go on the lease.

Deposits And Other Fees

As mentioned above, and fees or penalties should be clearly explained in your lease. Will fees for late payments be assessed by the day or a flat fee? Will you offer a grace period? How will you handle illegal activity or other lease violations? You will need to clearly explain the required security deposit and the reasons for deductions upon moving out for cleaning and repairs.

The Handling Of Repairs And Maintenance

Define your process for reporting and handling maintenance issues. Outline the timeframe a tenant can typically expect for repairs to be made. If the tenant is responsible for damage, explain how they will be accessed. If they choose to repair on their own, you will want to explain your process and rules for this as well.

Entry Rules

Explain the reasons why you would need to enter the property and how much notice will be given. The tenant will need to allow access for regular inspections, repairs and of course in the case of emergency.

Additional Items To Consider

Depending on your property, there are all sorts of additional provisions you can include.

Rules For Subletting

If your tenant needs to suddenly move in the middle of their lease term, will you allow them to sub-let? If so, how will this process be managed?

Alteration Specifics

Many tenants will like to paint, add shelving, and create other modifications to make the property feel like home. Outline what is acceptable and not acceptable. For example, list acceptable paint colors, rules for putting holes in the walls, what is allowed to be changed in the yard.

Pet Clauses

While many people out there have pets, it can be difficult as a landlord to know if you should allow them or not. Not all cats and dogs are alike, and neither are their owners. Some might scratch up the walls, and some owners have different levels of acceptable cleanliness. If you do allow pets, specify what kind, the weight limits, and if there is any additional deposit required.

You could also include rules for things like parking, noise, and shared amenities.

Do you want to learn more about putting together a smart and detailed lease agreement for your Orange County property? Contact us today, we can help! 949-625-4533

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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