I was browsing through Zillow questions recently and I found a question from a home owner as to where they can get lease forms to rent out their home.
A prior response to the question said that they could buy forms at a local office supply Store! NOOOOOOOOO!!!!
PLEASE, for your own sake, do NOT use lease forms purchased at an office supply store as the basis for your contract between you and the resident that will be living in your rental home.
Think of the lease agreement as a contract that is a document to protect your legal rights as well as your property. Remember, "we're all friends until something goes wrong." That lease document is your first stop in determing "who is responsible for what" and then enforcing your rights.
Consider-
*Tenant laws change frequently
*Laws vary from area to area
*Pre-printed packages at an office supply store likely won't be up-to-date
*Pre-printed packages at an office supply store may not be specific to your area and thus not contain the correct language
Please, consult a property management professional. A property manager will have addenda and exhibits attached to the lease to address any and all pertinent issues and will keep these documents up-to-date with changes in law.
Some property managers, such as ourselves, also offer a "placement only" service in which we qualify the potential residents and them walk them through the lease documents and ensure that the entire package is properly signed before turning over to you so that you can self-manage. At least this way you are self-managing with a proper lease agreement!
You'll be glad that you did.
Mark Delgado, DRE#01880416
President/Managing Broker
Benicia and Vallejo, Solano County rental homes and rental listings
Mark: A "placement only" option is a great idea f0r those landlords who either do not want or feel they cannot afford to use a property manager. What exact serives are offered?
Mark * I do not even use the REALTOR lease forms - I have 6-page common law lease format that has been time-tested in court and I also use a 19 page resident handbook that is referenced in the lease....DIY landlords who use a lease form from the web are digging themselves into a BIG hole!
I can't imagine popping into Office Depot and getting a lease form that is being sold nationwide. Best to work with a local agent who knows the ins and outs and can protect my investment.
Mark,
Excellent advice. We really like the Georgia Association of Realtor forms including the lease and have a few more addendums. Protecting their major investment should NOT start with cheap forms and a lack of knowledge. That is very costly.
All the best, Michelle