It’s always a surprise to hear about landlords who rent to tenants without a lease, or with the wrong lease. Your lease is the most important document in the relationship you have with your tenants. It sets forth the expectations and responsibilities for each party. Make sure you have a good lease in place, otherwise you will could be setting yourself up for legal and financial problems.

Protection

A strong lease will protect both you and your tenant. It provides you with a legal frame of reference that will keep you out of court, especially if a dispute with your tenant occurs. If you get a complaint from a tenant or you find yourself in front of a judge, your lease will help you document your actions and your procedures. It gives you a solid foundation and it ensures there are not any gray areas that could be interpreted differently by you and your tenant. When you have a strong lease that is detailed and compliant with the laws in Arizona, you are legally protected.

Rules and Regulations

A strong lease will include information about what a tenant can and cannot do and it gives the landlord the authority to enforce the rules. Your lease must have information about how rent is collected, whether pets are permitted, what the process is for moving in and moving out, how damage is assessed and who is responsible for paying utilities, caring for the lawn and cleaning the property at the end of a tenancy. Your lease should address inspections, explain how to report maintenance issues and describe the consequences of late rent. Include all the necessary details so you can be sure your tenant understands what you expect and how you will enforce that lease.

Limiting Loopholes

If a tenant wants to break the lease or violate a section in the lease, he will look for a loophole that allows him to get away with whatever he’s doing wrong. A strong lease will prevent that. Your tenants will be required to follow the lease and you will have the direction you need to solve any small problems before they become large problems. To ensure you have a strong lease that protects you and prevents your tenants from taking advantage of any loopholes, use a lease that has been created and reviewed by attorneys and property managers. This is your best defense against any short term or long term problems. If you have any questions or you need help finding an excellent lease, please contact us at PRS Property Management, and we’d be happy to help you.