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Property Lease Agreements and What to Cover | Colorado Springs Landlords

It’s important that you don’t just go and buy a general lease that isn’t state-specific. There are things that must be included or omitted in your rental lease agreement in order for it to be enforceable. Going to some random lease generator for a broad based lease won’t work for your particular situation. We recommend you talk to a local attorney and get a copy of their lease or at least some information. Make sure you include the following information in any lease.

Property Information

The property address must be included in the lease so you and the tenant are clear on what property or portion of the property is being rented. You also need to state the term of the lease, and when it starts and ends. The lease should reference if the agreement carries over from month to month or if there’s a finite termination date.

Property Price and Payment

The lease must include the price of the property, and instructions about how and when rent is to be paid. Surprisingly, we fix a lot of situations where people rent to other people with nothing more than a handshake. They may have differing opinions on how much the rent is and when it’s due and what happens if it isn’t paid on time.

Occupants and Pets

A good lease will list the occupants in the property and any pets if you allow pets. Indicate who will maintain the yard and the utilities. Is it the homeowner or the tenant or is the property in an HOA, where it’s handled by them?

Finally, make sure the lease has all the required signatures and dates. Everyone should get a copy so you can refer back to it if there are any questions.

Talk to an attorney and pay them to draft a good lease that will protect you and your property. Don’t use a general lease – it can get you into trouble.

If you have any questions about any landlord-tenant agreement form or rental contract, please contact us at Muldoon Associates. We’d be happy to tell you more.

Posted by: muldonassociates on November 2, 2017
Posted in: Uncategorized