Why Our Lease Agreement Offers Better Protection
I recently had a Landlord, who was looking for a Lease Agreement, ask me why he should use our product instead of a free Lease template. This is a question that I love and could talk about all day, but I managed to play it cool and just highlight a few key differences.
But, the conversation inspired me to provide a little more detail about why our Lease offers Landlords more protection and peace of mind than many of the Lease forms available online.
Here’s a look at three key factors that set our Lease Agreements apart and why they’re so important for a Landlord’s success.
What Sets Our Residential Lease Agreements Apart?
There are three main aspects of our Lease that I consider “must haves” for Landlords to get maximum protection and benefit from their Lease Agreement.
- Detailed and Readable; and
State-Specific Lease Agreements
Landlords must comply with the Lease laws of the state where their rental property is located. Landlord-tenant laws vary from state to state, and each state has unique requirements for things like security deposits, late fees, rent increases, and Lease renewal. Because of these unique requirements, Leases are not “one-size-fits-all.” Instead, Landlords have to have a state-specific Lease that includes all state-required terms, regulations, and disclosures.
Our Leases are state-specific and guaranteed to comply with the laws of your state. Plus, all state-required terms are automatically included in the Lease Agreement and, as you build your Lease, we offer State Assist tips to point out important state laws. Think of it like having a local expert giving you tips as you build your Lease.
The fact that we automatically include state-required language and point out important state laws ensures that Landlords are complying with all applicable laws and that they’re familiar with important laws before the start of the Lease term.
Detailed & Readable Rental Contracts
Next, our Leases are detailed and easy to read. They cover all of the major details like Lease term, rent amount, late fees, and security deposit, but they also cover all of the minor details.
Things like pest control, snow removal, yard maintenance, pet policies, and parking rules are often left out of the Lease. This means confusion for Landlords and Tenants and, more often than not, it ends up with the Landlord taking on more responsibility than intended.
Miscommunication leads to frustration between Landlords and Tenants and it results in tasks not getting done. A detailed Lease avoids this miscommunication, strengthens Landlord-Tenant relationships, and leads to more consistent property management.
Besides simply being detailed, our Leases are written in plain language that is easy to read and understand. This seems like a simple point, but it can really have a big impact on Landlord-Tenant relationships. If your Lease is detailed but written in legalese that neither party reads or understands, it doesn’t serve its purpose.
The key to our Lease is that it covers all of the details and is written in simple language that Landlords and Tenants can read, understand, and refer back to regularly.
Customizable Residential Lease Agreements
Last but certainly not least, our Leases are customizable. This means that they include everything you need and nothing that you don’t. When you use a template, you can end up with language that doesn’t apply to your property. This is confusing and sends the message that the Lease isn’t all that important.
You want to be consistent about enforcing every term in your Lease Agreement. To do this, the Lease has to be customized to the unique needs of each of your properties. Whether you’ve got strict parking rules, hot tub maintenance requirements, or pool regulations, our Lease Builder ensures every unique aspect of your rental unit is covered and every term of the Lease applies to your property.
Why Having a Strong Lease Agreement Is Important
If problems ever arise with a Tenant, it’s the Lease Agreement that protects both parties. In an ideal situation, when a dispute arises, the Landlord and Tenant can refer to a strong Lease and resolve the issue themselves. And, we see that happen with some regularity.
Unfortunately, sometimes a Tenant is violating the Lease, is behind on rent, or is simply unwilling to work with the Landlord. In these situations, Landlords have to initiate eviction proceedings and get a third party involved. When this happens, a good Lease often means the difference between winning and losing in court.
A second, but important, benefit of a good Lease is building strong Landlord-Tenant relationships. Our Leases help to avoid miscommunication and ensure that Landlords and Tenants are on the same page from day 1. Positive relationships with Tenants lead to increased Tenant retention, better property management, and a more positive experience for Landlords. There are a variety of ways to build good relationships, but a strong Lease Agreement is the foundation of the Landlord-Tenant relationship and sets both parties up for success.
Give It a Try for Free
I could say a lot more about what sets our product apart, but the truth is the best way to see why our product is different is to use it. Our Lease Builder is easy to use and it only takes about 15 minutes to customize a state-specific Lease Agreement. You can create one for free and then decide if it’s the right Lease for you.
I encourage you to give it a try today and let me know what you think!
Kevin is passionate about helping others to become a better Landlord by providing tools and education to help them thrive.