A Lease is a contract between a Landlord and Tenant that outlines the terms under which the Tenant rents property managed by the Landlord. It’s an essential document for Landlords because it’s legally binding and outlines the roles and responsibilities of both parties.
Federal and State laws limit what can and can’t be in a residential Lease, and no two states are exactly the same. That’s why the wording of the Lease is critically important. A well written lease can often legally override state laws put in place to rule in the absence of a written Lease.
The Lease Agreement not only provides legal protection should any problems arise, but it also lays the foundation for the Landlord Tenant relationship.
Combined with effective applicant screening and a rigorous credit & background check, a well written Lease can be worth literally thousands of dollars to the small to medium sized Landlord. Unlike the GAR lease, the KILLER LEASE is fully customizable by you for your unique situation, and it is designed to protect both the Landlord and the Property from deadbeat renters and their deadbeat attorneys. It is fully compatible with the new digital signatures, but still allows you to print it and sign it in blue ink if you choose! The KILLER LEASE is currently in use in at least 27 states.
When you give a Tenant keys to your property, you’re handing over legal possession. If your rent is $1,995, then the transaction is worth almost $25,000 annually. Before you do that, you need a comprehensive rental Lease Agreement in place that’s been legally signed by both parties.
Join me on ZOOM on Wednesday, September 6th for a full one hour discussion of the pros and cons of the KILLER LEASE. It has changed dramatically over the years, in response to new laws and court interpretations, but the goal is always the same: require the tenant to 1] pay the required rent on time every month, 2] use the property as intended, and 3] return it to you at the conclusion of the Lease in a clean, ready-to-rent condition.
I will be making this presentation LIVE at various times during the day, so you can select the time that is right for you. Even if you know you can’t attend that day, go ahead and sign up so I can send you the replay. Once you register, I will send you a short survey asking you what topics you want me to cover and which parts of the Lease need clarification.
CLICK HERE to sign up now. There is no charge to attend. Also, please forward this email to anyone you know that might be interested.
Yours for More Profitable Landlording,
JOHN ADAMS
PS: Even if you DO use the GAR lease, you’ll want to attend to learn how you can “beef it up” and make it less pitiful.
PPS: Property Managers: The KILLER LEASE is a great way to offer your owners better protection and a better experience.
PPPS: Yes, you are welcome to invite your attorney to attend this event as well. Most real estate attorneys already use my documents!
