The real estate investments can be an income generating business if your property manager gets the quality tenants and possess a well drafted rental agreement that favors you. It is, therefore, wise and prudent for all Atlanta landlords to have a comprehensive rental agreement. If you are looking for a professional property management company that is able to help you with this, visit Rent Appeal’s website and find out more. If you are a DIY landlord, keep on reading. Listed below are the key elements to include in a rental agreement for your Atlanta property.
What To Include In The Rental Contract:
Parties To The agreement
The top ranking element of the Atlanta rental agreement is the tenant and landlord bound by agreement. Here, full legal names and addresses of the landlord and the tenants should be included. If possible, the registration details such as Social Security number or Passport, and driver’s License should also be included.
The Rental Property Under Consideration
Description of the rental property being leased out to tenant should be clearly outlined in details. The agreement should also outline the physical location, street, address, and the unit sum of the rental property being leased. Appropriate descriptions prevent any future misunderstandings or confusion that could result in litigation.
The most preferred minimum term as outlined in the lease agreement is the date lease starts and the date lease ends. The residents will have breached the agreement if they fail to occupy the premises within the specified minimum term. As a result of this breach tenants shall pay for landlord damages until the completion of the dictated minimum term or loss of rent within dictated minimum term.
Your rental or lease agreement should specify the date lease starts, rent amount, and rental address. The monthly rent payment should be made on the first day of the month. The agreement should also spell out the well-calculated move – in – funds. Payment from the second or third party is not accepted It is clearly indicated in the lease agreement to avoid the disputes and confusion with tenants.
Tenant agrees that rent should not exceed fifth day of each and every month in case they fail to pay in time.
The agreement dictates that Tenant should pay for stated utilities such as electric, water, gas, trash, sewer, telephone, and cable.
A resident agrees to utilize property management online payment system in order to pay his/her rent automatically. The rent is simply deducted from resident checking savings, debit, or credit card account.
Resident agrees that if the rental owner gave the resident a discount or move-in credit, that resident is liable for the rent credit or discount repayment if the resident fails to comply with the of the rental Agreement terms.
Resident agrees to keep driveways and sidewalks free of debris, ice, and snow and in the safe state in accord to city regulation. Tenant agrees to remove debris and trash that appears or blows onto on the rental compound.
Entry And Inspection
Tenant agrees that the notice of twenty-four hours is given prior to entry and inspection of the premises by the landlord.
Security Deposit Details
The security deposit, means of payment and terms of future refunding should be clearly listed in the rental agreement.
Atlanta rental agreement should outline the names of people who will regularly reside in the premise. Only the adults named in the rental agreement may occupy and utilize the property.
Atlanta rental agreement should state whether or not tenants are allowed to possess a pet. The species, limitations on the number, and size should be outlined as well. The rental agreement should include extra deposit required for pets if any.
Repair And Malfunctions
The rental property’s condition should be outlined in writing as well as the landlord’s responsibilities for repairs and malfunction with the property. Resident shall not hire contractors to repair premises.
Parties agree that resident(s) were given the chance to inspect the premises before signing the lease Agreement.
All vehicle parks are reserved for resident use only.
Parking Lot Speeds
If the property possess parking lot, resident agrees to operate non-motorized or motorized vehicle at the most speed of ten miles per hour.
Use Of Premises (residential us only)
Property shall not be utilized as a commercial premise.
Trash And Container
Tenant agrees to remove trash which would violate human health and cause a hazard.
Although the listed above elements are not all-inclusive, the listed ones are sufficient to address your rental agreement. Atlanta rental agreement can protect you from future complications. If you are the rental property owner in Atlanta and you are searching for a rental agreement to facilitate your tenant’s services, Atlanta rental agreement is the ideal choice for you.
For more information on putting together a solid rental agreement, click here and read on. There are some great insights here, that’ll help you on your journey to putting together a clear document.