Make Sure to Doc­u­ment Everything

Make Sure to Doc­u­ment Everything

A writ­ten lease is very import­ant. You need the right rental agree­ment for your situ­ation and state.

You need to record the con­di­tion of the home before the ten­ant moves in
(prop­erty inspec­tion report or Condition Report).

Pho­tos of the prop­erty are a great idea. List any­thing that can be moved, broken, or dug up.

You will need to cre­ate a doc­u­ment that cov­ers points that are spe­cific to your prop­erty, in detail.

This paper should cover things like repairs, pets, depos­its, late pay­ment charges, util­it­ies (water charges are a big issue).

Hand­shakes And Verbal Contracts/Leases

Verbal con­tracts and hand­shakes for leas­ing will not stand up in CTTT (Con­sumer, Trader and Ten­ancy Tribunal)at all, espe­cially if you have to clime dam­ages to the prop­erty.

Com­mon sense should tell you it’s best to have a signed lease, just to enforce the rules if noth­ing else.

You can obtain stand­ard, gen­eric Residential tenancy agreement online, but they won’t apply to some things about your prop­erty.

Even if a ten­ant is in a prop­erty under a verbal agree­ment, they still retain pro­tec­tion under the law.

A cas­ual agree­ment to rent doesn’t mean a cas­ual evic­tion.

The same legal pro­cess for evic­tion will apply, whether or not a formal lease was con­trac­ted.

The courts tend to give the ten­ant the bene­fit of the doubt in dis­putes over rent and evic­tion because he/she will be los­ing their home when it’s all done.

This is prob­ably the single biggest step you can take to pro­tect your property.

RealRenta has all the tools that a property manager has, but at over ¼ the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

RealRenta also has a free vision, so why not check it out

Jason Gwerder
Friday, 19 March 2021

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