House Lease Agreement - What Do You As A Private Landlord Need To Include?

What is a house lease agreement? A house lease agreement is a legally binding contract

between a private landlord and a tenant for renting out a home or other type of property. It should be a written agreement. It is important that you as the private landlord include everything you can in the agreement that relates to the tenant's use of your property.

If you are writing the house lease agreement yourself it can sometimes be a bit overwhelming because you need to strike a balance so that the agreement is comprehensive but not overly cumbersome and is easily understood by the tenant. It's better to be in plain English rather than "legalise" so nothing is misunderstood.

When you are drawing up a house lease agreement, there are a few basic requirements:-

* where the property is located;

* what the property consists of;

* your personal details as the private landlord;

* details of the tenant;

* how much rent is going to be charged;

* when the rent is due

* the security deposit;

* if you allow pets, any pet deposits.

Unless laws in your state say otherwise it is important to note that any deposits can't be more than the monthly rent. Some of the other things that need to be included related to the rent are - how many days can pass before the rent is considered late, how much you are going to charge the tenant for late fees.

These fees need to be worked out based on the laws in your state and or any local laws and have to be fair.

The next thing that is important to include in the house lease agreement is what the tenant is paying for, and what you are going to cover. For example, things like utilities, the phone, and cable should be the sole responsibilities of the tenant, and this should be clearly stated in the lease agreement. You also need to make sure that the tenant has accounts with the relevant utility companies so that utility companies are charging the tenant, not you.

Another important part of the house lease agreement is the length of the agreement. This can be a tricky subject, and there are many different options. For some private landlords that want long term tenants, a year lease agreement is a good choice for many reasons. It ensures that the tenant is willing to occupy the residence for at least a year, for one. However there are some drawbacks as well. One of them is that once the agreement is signed, you can't make any changes or adjustments for a whole year.

One the other hand, while a short term lease agreement gives you more leeway, your tenants may be short term, meaning you will have to rent it out more often.

The other item that is important is terms of vacancy. Usually, a regular house lease agreement of a year or more requires the tenant give a thirty day notice of vacancy. Again, this has advantages and disadvantages. The advantage is that you get advanced notice that your tenant plans to leave, but again, this gives them a full month to leave. You also have to set a renewal date for the lease agreement, normally this wil be be one year from the date the agreement is signed.

There are many more things that can and should be included in a house lease agreement, much more than can be covered here. There are duties that you are going to be performing above and beyond what is required by law. There are responsibilities that you will be taking care of, and what the tenant is responsible for.

Any special conditons and or restrictions for use of the property or for operating any of the assets included in the lease should be included in the house lease agreement, e.g. dishwasher, fire or stove, heating system, airconditioning, hot water system.

If you need a sample lease agreement for a basic understanding, there are many websites with general examples of lease agreements, that can be adapted to your own personal requirements.

If you would rather not prepare the house lease agreement yourself you can get an attorney to prepare a house lease agreement for you but choose one that specialises in residential leases.

Surprisingly enough not everyone will treat your property the way you would so time and money spent on your house lease agreement is well worth it. It's your protection as a private landlord.

by: Steve Barker

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