What are the important clauses in a lease?
What are the important clauses in a lease?
A clause giving the tenant the right to pay reduced rent is important if the landlord fails to make repairs. Can the landlord enter a tenant’s premises without notice?
Is there a no sublet or assignment clause in a lease?
Your lease may have a short, sweet “No sublets or assignments,” period. If that’s all there is—no qualifiers such as “without the landlord’s consent”—then you can’t do it. Of course, if you want to assign or sublet during the life of the lease, you can always approach the landlord and ask to reopen the issue.
Is there a right of entry clause in a lease?
By visiting the property, of course. Most leases do contain “right of entry” clauses that specify how much notice must be given. But rarely do I see the words regular inspections used. Add it in!I recommend either quarterly or semi-annually. This does not give you the right to pop on in and sit down with some popcorn to watch Netflix.
Is it illegal to add a clause to a rental agreement?
All tenants have rights when renting a property, so it’s important you’re aware on what they are. Tenants have a right to: It’s illegal to add a clause into your rental agreement that negates a state or federal law. Any clause that tries to negate a law is considered void and won’t be upheld in court.
A clause giving the tenant the right to pay reduced rent is important if the landlord fails to make repairs. Can the landlord enter a tenant’s premises without notice?
By visiting the property, of course. Most leases do contain “right of entry” clauses that specify how much notice must be given. But rarely do I see the words regular inspections used. Add it in!I recommend either quarterly or semi-annually. This does not give you the right to pop on in and sit down with some popcorn to watch Netflix.
Do you have to write a lease agreement?
As a general rule, this provision must be in writing, and any oral agreement will be insufficient. As a result of the foreclosure spike in 2008, federal law has been written with the sole purpose of protecting renters from losing their leases.
Why is it important to have a lease agreement?
From a legal perspective, your lease agreement is your greatest mode of protection as a landlord. It’s what keeps you out of trouble, safeguards your property from abuse, and helps you take action when you’re being treated unfairly by tenants. But a lease is only as good as the language it contains.