#2 Rule – Avoid Incomplete Lease Paperwork…


Incomplete or inaccurate paperwork

A lease is intended as a binding, legal contract between you and the tenants. As such, you must make sure that it thoroughly and completely addresses the house rules, tenant’s and landlord’s responsibilities and conflict resolution procedures. Always put everything down in writing in form of amendments, if so needed. Unfortunately, a handshake or verbal agreement won’t always be remembered the same way by the parties involved and will definitely not hold up in court. There are generic leases that can be found online or at your local stationary store specifically for your locality. However, you’ll want to have the paperwork examined by a legal professional to ensure that the terms protect your interests and comply with local and state regulations.