We’re talking today about the residential lease agreement for your rental property. Whether you use a professional property manager or you do it on your own, make sure that you have a good solid lease that represents the contract between you and your tenant. It establishes everything involved in your relationship.
A lot of people go to a bookstore or find a generic lease online. These do not work well. Real estate law varies from state to state and it’s very important to have the rental agreement for your specific state. In California, a number of specific parts are required and it’s a very extensive lease that’s required when you do it properly.
At American Heritage Properties, we have developed our own lease over the last 30 years. The general clauses that are required by law are in there, and we’ve also added a few things. These pertain to the areas we have found over the years that are important to have in the lease. So with our rental agreements, you have the one component of the legal protection, and then you also have our procedures and how we handle certain things. We found that this works best in protecting you. You get the protection of the lease as well as detailed information that the tenant has acknowledged and agreed to.
Make sure you find a good rental agreement and if you have any questions, contact us at American Heritage Properties.