Creating a Lease
Do You Know How to Create a Lease?
You found people to rent your property, and you had them fill out your Lease Application. They met your criteria, and the verifications all checked out. Now it’s time to present the Lease or Rental Agreement. In some states, rental agreements with a term of 12-months or more have to be in writing in order to be enforceable. Does that mean it’s possible to forgo the written agreement for terms less than one year? Possible, yes. Prudent, no!
If you and the tenant have a verbal agreement and each remembers and holds up to what they agreed to, there would not be a problem. However, without the signed, written terms, how would either party prove what was agreed to when standing in front of a judge over a dispute? In the absence of a written agreement, a judge would decide based on…
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