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Message
Anyone have a copy of a good rental agreement?
Posted on 5/16/17 at 9:05 am
Posted on 5/16/17 at 9:05 am
I've been using a rental company for a few years on a property, but I've found some people that would like to rent the home directly from me for a year. Anyone know of a good place to get a standard rental agreement to use? TIA.
Posted on 5/16/17 at 10:22 am to Kingpenm3
Yeah. Your lawyer's office would be your best bet.
Posted on 5/16/17 at 11:15 am to Kingpenm3
Get the one off biggerpockets.com and edit it how you want it.
I always change the agreements so I am getting the better end of the deal every time.
Rent 3 days past due? $50 for me
You didn't change your air filter out? $200 to have AC serviced.
I could go on and on. Make them walk the line or they will be walking all over you.
I always change the agreements so I am getting the better end of the deal every time.
Rent 3 days past due? $50 for me
You didn't change your air filter out? $200 to have AC serviced.
I could go on and on. Make them walk the line or they will be walking all over you.
Posted on 5/16/17 at 11:59 am to I Love Bama
quote:
Get the one off biggerpockets.com and edit it how you want it.
This is probably the worst possible solution. I'm not a big fan of using forms of the Internet in general, but if you're going to use them use them as is. What you absolutely cannot do is take forms off the Internet then start randomly changing them. You're just asking for trouble if you get a fiesty tenant.
Posted on 5/16/17 at 12:06 pm to Cold Cous Cous
Ok, I'll bite. Why?
Posted on 5/16/17 at 12:13 pm to Cold Cous Cous
quote:
This is probably the worst possible solution. I'm not a big fan of using forms of the Internet in general, but if you're going to use them use them as is. What you absolutely cannot do is take forms off the Internet then start randomly changing them. You're just asking for trouble if you get a fiesty tenant.
This sounds like something an ambulance chasing lawyer would say.
Posted on 5/16/17 at 12:53 pm to baldona
quote:Trust me when I say I'm not looking for business writing residential lease agreements in Alabama.
This sounds like something an ambulance chasing lawyer would say.
Some form contracts are good, some are bad. (That's a whole separate discussion.) But they're written the way they are for a reason. Some parts you can change at will, some parts you can change and render the contract completely unenforceable. Unless you know which is which, you would be better off using the form contract as is.
Actually, I Love Bama specifically should hire a lawyer. Given that this is basically your full-time job, I think it's worth a couple hundred bucks to get a lease that is tailored to your state, your clientele, etc. so you can get something that's enforceable while still being as landlord-friendly as possible. This is one of those things that's relatively cheap to do right at the beginning and extremely expensive to fix on the back end.
Posted on 5/16/17 at 1:00 pm to Cold Cous Cous
Bama, what else do you have in your agreement that results in fees for you?
Posted on 5/16/17 at 5:07 pm to I Love Bama
quote:
I could go on and on
I'm interested in hearing some more as well... I'll share some of mine:
I require the last months rent up front, but I let them spread the payment over the 1st 3 months...
I include lawn service in the rent so there is no chance it gets bad...
Posted on 5/16/17 at 7:41 pm to Cold Cous Cous
I have been renting residential property in MS for 20+ years. The few times I have been to small claims court the judge didn't even read/look at the lease. I charge a $10 a day late fee after the the 3rd. Judge told one guy "That's pretty good deal. Try renting a hotel room for $10 a day"
This post was edited on 5/16/17 at 8:42 pm
Posted on 5/17/17 at 8:28 am to weadjust
Exactly, the actual rental agreement is rarely used in your average residential rental dispute. You usually refer to state or local law, and common sense. If the tenant is that terrible, it's usually easier to figure out a way to get them to leave by paying them cash or cutting them loose on what they owe rather than take them to court over 2 months lost rent which could take weeks longer to deal with.
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