Any lease agreements in Missouri made by a landlord and resident must be documented properly. An agreement must be included whether you’re going to use a property management company or you’re going to self-manage. What exactly must be included in this agreement? Read on to learn the five most important items to insert into the agreement.
Make sure all residents are included
One of the most common issues that landlords face is needing to deal with people who were not originally in the lease agreement. In fact, some real estate may have rules regarding the number of people living within it. That is why it is so important to add every single person 18 years of age and above into the original lease agreement. This will allow you to have concrete proof of who belongs there and who doesn’t.
Detailed rent information
Another item that landlords need to include in a lease agreement is the details surrounding rent. Adding the dollar amount owed is simply not enough. Lack of detail can result in miscommunication and, ultimately, late payments. The following are some of the other items you must make sure to include:
- Form of payment accepted, such as cash or credit card
- Method of payment, such as by mail or online
- Exact due date
Repair and maintenance policies
If there is one way to overspend on a rental property, it’s through a vague description of your repair and maintenance policies. In many cases, a resident will attempt to fight to keep their security deposit due to vague language regarding maintenance. Instead, take the time to ensure that your policies are clear.
Lawful entry to property
In the event that your tenant is behind on payments and you need to begin showing the property, you may face legal obstacles about entering the property. That is why language should be included within the lease agreement stating your intent during these situations. For example, you could notify the tenants at least 24 or 48 hours before you step into the property.
Your rules for the property
If there are no clear rules regarding the property, you may have to deal with some unpleasant actions by your tenants. Thus, if you do not want pets or large parties within the property, you must ensure that you add it to the lease agreement.
Crafting a lease agreement can be tedious and often complex. Thus, it is important to consult with an attorney about what you may or may not add to the document. This might help you avoid legal headaches in the future.