Rental Agreement Contract Advice

[probablecause]

Have a furnished property that we are going to rent out - month by month but could do a long-term lease. Looking for a rental agreement that leaves nothing out. From me being allowed in once a month to check under sink plumbing to no hanging pictures on the wall with nails, etc. Thanks in advance. Brendan

 

[Englewood]

A couple things...

Furnished is not a good idea. I can explain in more detail.

Entering the property each month is not a good idea...

I can explain more if youd like and get you a copy of a lease. [email protected]

 

[Ziggy]

Have a furnished property that we are going to rent out - month by month but could do a long-term lease. Looking for a rental agreement that leaves nothing out. From me being allowed in once a month to check under sink plumbing to no hanging pictures on the wall with nails, etc. Thanks in advance. Brendan

Will you manage the property/repairs, Etc?
There are plenty of generic contracts available but my suggestion would be find a leasing agent to construct a lease contract with the legalese language and points you want covered. Ask around and find one to do it for a one time fee.

 

[just_floatin]

Go through a property management company for a close to iron clad contract, inventory sheet and background check on the client. Worth the money. Furnished requires a full inventory down to the number of forks and spoons and a higher deposit.

Managing the property month to month is more challenging then 3 to 6 month short term. Always get first, last months rent and a high deposit to decrease your personal risk of not getting paid the rent. Especially now days with so many rental restrictions on eviction due to covid. If you are handy, do the routine maintenance to check on your property. Changing the toilet flapper or cleaning the garbage disposal gets you in the door to check on your investment.

 

[old rigger]

I’ve been a landlord since I was 20, I’m 64 now.
Always month to month for me. Had one lady rent for 25 years, another now is going on 9.
When I was younger I made all kinds of mistakes with renters but now I don’t sweat the small stuff. If they want to hang something with a nail I have no problem.
I’ve always managed my stuff.
Two important things I’ve learned and still do when I have a vacancy, I never advertise in any paper or online bullshit, just a sign in the window. 9 times out of 10 a neighbor will recommend the place to a friend. The other is I always take their application in person at the rental then without fail, walk them back to their car. If their car is a shit hole, inside I mean, then I know that’s how they’ll treat my property and I toss their app as soon as they turn the corner.
good luck.

 

[sintax]

I’ve been a landlord since I was 20, I’m 64 now.
Always month to month for me. Had one lady rent for 25 years, another now is going on 9.
When I was younger I made all kinds of mistakes with renters but now I don’t sweat the small stuff. If they want to hang something with a nail I have no problem.
I’ve always managed my stuff.
Two important things I’ve learned and still do when I have a vacancy, I never advertise in any paper or online bullshit, just a sign in the window. 9 times out of 10 a neighbor will recommend the place to a friend. The other is I always take their application in person at the rental then without fail, walk them back to their car. If their car is a shit hole, inside I mean, then I know that’s how they’ll treat my property and I toss their app as soon as they turn the corner.
good luck.

Just make sure you write random numbers on the rental app, its supposed to be first come first serve =)

just sucks that someone with a better app just happened to apply before you... sorry.

 

[old rigger]

Just make sure you write random numbers on the rental app, its supposed to be first come first serve =)

just sucks that someone with a better app just happened to apply before you... sorry.

it is first come first serve, if they’re a slob their app gets tossed. If not then we move to the next step. They have no way of knowing where they are in the order of filling out an application. I don’t have to rent to anyone because they’re first.
And if someone with a better app does comes first, well that’s the whole idea isn’t it.

 

[fmo24]

It’s funny you mention the condition of their car. I rented from a lady that obviously was looking at the condition of our shoes and clothing as part of her assessment lol

 

[lbhsbz]

Have a furnished property that we are going to rent out - month by month but could do a long-term lease. Looking for a rental agreement that leaves nothing out. From me being allowed in once a month to check under sink plumbing to no hanging pictures on the wall with nails, etc. Thanks in advance. Brendan

You might rethink the nails things....I told that to my tenants, so they used those 3M "easy release" stick on hooks where you pull on the tab and they release....unless they don't and they tear a chunk of paint off the wall along with half a layer of drywall paper....sort of a bitch to patch. I'd rather patch/touch up nail holes...or just hang another picture on the nail.

 

[sintax]

You might rethink the nails things....I told that to my tenants, so they used those 3M "easy release" stick on hooks where you pull on the tab and they release....unless they don't and they tear a chunk of paint off the wall along with half a layer of drywall paper....sort of a bitch to patch. I'd rather patch/touch up nail holes...or just hang another picture on the nail.

totally, ripping a chunch of the texture off of the wall is 100x harder to properly fix than a tiny nail hole.

 

[LuauLounge]

We've done 1 year lease that reverts to M/M. 1st family stayed 4 years, second over 2 years before we gave them notice because we moved our office into the place. Kept the management company, its worth it to me to not deal with the repair issues. One email or phone call and I've got a repairman at my front door. Repair costs have been reasonable as well.

 

[SKIDMARC]

I'd be very weary of renting right now considering what's going on. But not sure of your situation. Best of luck!

 

[boatpi]

I’ve had rental units for over 20 years all single-family houses. Renting nowadays can be very risky because of the moratoriums for evection especially in California it’s extremely risky. To each his own but I always do a one year lease at that time like most contracts he reverts to a month to month if I want them out I just sent him a 30 day notice for nonrenewal other contract and they’re gone in 30 to 60 days. Some cities or states have restrictions on a notice to senior citizens or evection it’s usually double and you have to give them 60 days notice so you’re not going to renew their contract.

As a landlord with kills you was turnover that paint touch up and things of that sort can be huge if someone leaves every two or three months and it’s all on you because in most states any contract less than one year you have to take care of normal wear and tear.

My recommendation is stick to a one-year lease that reverts to month-to-month.

This is why I moved all my property investments to Nevada under normal circumstances if they don’t pay the right on their ass in 10 days or less and they all know it. If you’re a good landlord experience tenants know that most don’t like property management companies because it takes time to get approval to repair things. I’ve had tenants as long as Aiden nine years.

 

[NicPaus]

Be sure to run there credit and screen them well. Worth losing a week or two for the right tenant. I rehab a lot of rentals. Have redone the work on some numerous times. At 1 now that the tenant destroyed then had to pay them to leave after not paying for months. The bitch then called code enforcement and had the house red tagged. Good thing the Inspector saw through her BS and is on my side along with the owner. He still making us bring old work up to today's code but he could of made us take off the back addition that is over 50 years old. He agreed with me it is original and it gets to stay and is now permitted. Doing a little over 70k of work to it but it could of been a 100k easily if he wanted to side with evicted tenant.

 

[boatpi]

The Apartment Owners assn in Long Beach is a great source. You can even sign up to do credit checks, etc.