Los Angeles Property Management – How to Create A “Rock Solid” Lease
By Utopia Property Management
Are you concerned about having a rock-solid lease in 2018? In this issue of our Los Angeles Property Management tips, we will provide you with our best tips for creating a “rock solid” lease.
Tip #1 – Lay Out Your Terms of The Tenancy
Is the lease going to be fixed term or month-to-month? The terms of the tenancy must be laid out in the lease including if the lease is going to be self-renewing or if it has an end date.
Tip #2 – Be Specific About Rent Payments
Since rent is at the core of everything you do as an owner, another important thing you should do as an owner is be very specific about rent payments and how you want to be paid.
Once your tenants know your policy about rent payments they won’t be able to make excuses for why they haven’t paid the rent on time, or bounced a check, because they will know your policy for rent payments before they become your tenant.
Tip #3 – Have Clear Terms About the Fees and Deposit
One of the top things that almost every property management company will agree on is that you also must have clear terms for fees and deposits, especially when those deposits must be paid back, just so your tenant cannot come against you legally if you decide to use some or all of their deposit to repair damages to the rental after they’ve moved out.
Tip #4 – Limit the Occupancy
Your lease should also limit the occupancy of the Los Angeles rental. This means that only the names of the adults on the lease should be allowed to live in the rental for the long term and guests should not be allowed to stay for more than one month or they must be added to the lease.
Tip #5 – Make Sure Maintenance Is Clear
Last of all, but most important, make sure the tenant’s maintenance responsibilities are clear and they know that they must keep the rental cleaned and yard maintained as part of the conditions of their lease.
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