Lease terms (by alicewonder [TX]) May 13, 2018 2:26 PM|
Lease terms (by OPM [OR]) May 13, 2018 3:23 PM
Lease terms (by Deanna [TX]) May 13, 2018 6:07 PM
Lease terms (by Vee [OH]) May 13, 2018 6:12 PM
Lease terms (by AllyM [NJ]) May 13, 2018 6:13 PM
Lease terms (by Vee [OH]) May 14, 2018 5:29 AM
Lease terms (by S i d [MO]) May 14, 2018 6:56 AM
Lease terms (by RathdrumGal [ID]) May 14, 2018 7:22 AM
Lease terms (by rani3182 [TX]) May 14, 2018 7:41 AM
Lease terms (by Nicole [PA]) May 14, 2018 8:26 AM
Lease terms (by BRAD 20,000 [IN]) May 16, 2018 11:36 PM
Lease terms (by BRAd 20,000 [IN]) May 16, 2018 11:37 PM
Lease terms (by alicewonder [TX]) Posted on: May 13, 2018 2:26 PM
Could you all share what are these terms in your lease? I will need to write up a new lease when I find a new tenant.
1. how many days to start the late fee charge? I usually allow one day. It means it dues on the 1st, if I receive (the bank account receives) on the second day, then the late fee starts.
2. How much can you charge on the late fee?
The first day is $55 plus $15 , then the second day will $15.
How did you do your lease.
3. What kind of repair the landlord should do? If when I hand the property to the tenant, everything is function and in good conditions?
4. Which day should I start the eviction process?
5. Any special terms you recommend to add to the lease. How about the insults from the tenants?
Thanks. I am not a realtor, I can not use the standard lease from the agency , I am compiling the info from this forum and customer-designed lease.
Lease terms (by OPM [OR]) Posted on: May 13, 2018 3:23 PM
Alice.. 1st stop is to see what TX will allow or not under LL/tenant laws..
Given the questions you are asking.. perhaps a consultation with a LL atty would be a good investment --162.247.xx.xx
Lease terms (by Deanna [TX]) Posted on: May 13, 2018 6:07 PM
1) Check with your attorney, but my understanding is that you can't charge a late fee until after the day after it's due. So if it's due on the first, they have until the second to get it in without penalty, and then you can charge a late fee beginning on the third. You'd want to check and see what Texas says about how to treat days where the banks are closed-- like Saturdays and Sundays-- when those days affect the timeline.
2) There aren't any restrictions that I'm aware of. I want something that I have (a) a decent chance of collecting, and (b) a decent chance of defending as a reasonable charge should someone challenge me on it in court. So for me, I do 5% of all funds not paid by x day.
3) I repair the things that I need to repair to protect my investment. When the tenant causes damage-- punches through a glass cabinet door, or shoots out a shed window, or tears a fridge handle off the fridge, or pours grease down the sink-- then I charge them for repairs. When I have to deal with stuff that's just a normal part of owning a house-- the a/c goes out, or shingles blow off a roof, or there's a water leak in the yard line, or a faucet cartridge breaks-- then I take care of it. Sometimes it's a bit of both-- someone abuses the toilet, and wiggles it so that it's no longer properly seated. I take care of that, too, because I'd prefer my tenants to tell me there's a problem, rather than hiding a problem and letting it damage the house, because they don't have $x to take responsibility. If your tenants are in a better economic situation than mine, then you can put more demands on them.
4) Eviction is expensive. It costs about $300-ish for serving two people, if I recall. And in my market, it's slow... we're supposed to get our day in court in (10?) days, but my local JP is very tenant-friendly, and it takes more like 3 or 4 weeks to get on his calendar. So in my local courts, that's a thing of last resort. I'll usually do a three-day-pay-or-quit to get their attention before I actually file an eviction.
5) I'm a professional and a lady. :) Allowing-- or cultivating-- abusive situations isn't part of my universe. Half of it depends on screening-- putting in people who know how to act in a socially acceptable way; people who know how to maintain respectful communication even during stressful situations; etc. The other half of it depends on me, and my verbal/nonverbal cues that influence the tone of our interaction, not just during stressful situations, but throughout our entire history of interaction with each other.
I've only had one tenant who thought he could mouth off at me. :) He was someone I had broken my rules for-- and he reminded me why I didn't break my rules! :P He was my handyguy's helper who had been awesome and diligent on some grunt work, and wanted to rent a 1/1 garage apartment I didn't have proper respect for. He had moved back in from out-of-state and was crashing on his sister's couch, and was looking for his own place. I told him, "I'd rather lose a tenant than a handyguy-- I'm breaking my rules because you're so awesome!" And he moved in, and promptly became less awesome, and used his newfound freedom to fall back into a prescription drug habit I didn't know anything about and that didn't show up in either real screening, or the grapevine. I was prompt in paying him... he wasn't so prompt in paying me, because all his money was going towards his habit. And, muddled up on prescription drugs, his productivity slowed down to a snail's pace and he couldn't think straight. When I told him I needed him to catch up on what he owed me, he said, "Well, I might try and get you some money next week. Maybe." And I'm like, "I see. Well, this isn't working out. This is your thirty days' notice. Please sign here."
Cue the tirade. :) Told me my plumbers hated me because I owed them $5k and was slow to pay, and the whole town knew I bounced checks. And that was when I knew he was making stuff up, because my last job with those plumbers was $3600; I knew my payment history; and I knew I'd never bounced a check in my life. :P
So, yeah. Everyone else has been very polite, even in the bad situations where I decide I'm done with them, and they need to go. :) They might cry, they might make me play it all out in the courts, they might flee the state in the dead of night, or they might burn my house down by accident in a midnight move-out... but they're unfailingly polite in the process, and so am I. :) --96.46.xxx.xx
Lease terms (by Vee [OH]) Posted on: May 13, 2018 6:12 PM
Yes best to download your local and state tenant rules, then make your lease follow those rules, it is very frustrating to go all the way to court and have the judge say -the court can not support this lease or eviction, we side with the tenant-, I have seen this a few times. In my main areas the late fee is only 5percent so rent is late at 5;02 on the first - no reason for a grace period around here, a waiver of bench trial, government fees are added to next rent cycle (lawn mowing is 325bux this year) and the only time I divide it is if the repair or whatever exceeds the rent amount, then the amount over the rent is added to the second rent cycle, this is spelled out in the lease. But no reason to spin your wheels until you know what you court allows. --76.188.xxx.xx
Lease terms (by AllyM [NJ]) Posted on: May 13, 2018 6:13 PM
State of NJ requires a ten day grace period before eviction can begin. Most people charge a late fee after five days. I have used a one time charge of $25 or $10 per day when I first started out.
You do repairs when some part of your property fails by itself. I do repairs even if the tenant broke something and I charge them when they leave. I keep the bill. You must have a bill for repair or replacement or you can't charge. You must know when something fails or if the tenant broke it. Think if you ever broke that item and how it happened. The repair man can tell you how an item broke and who broke it.
You have to find out which day you state allows you to evict. Actually I suggest you run over to Staples and get one of their pre made leases. --73.178.xxx.xx
Lease terms (by Vee [OH]) Posted on: May 14, 2018 5:29 AM
The office store lease may have a couple good things but when you read it in detail it is just a longer change of address form, no enforcement because it is too generic. --76.188.xxx.xx
Lease terms (by S i d [MO]) Posted on: May 14, 2018 6:56 AM
Insults from tenants.... Solution: grow thicker skin and non-renew their lease.
I'm not sure what the deal is if you're regularly having problems with insults from tenants. I've been in the biz since 2005, and the only time insults have happened is when we've already filed for eviction, and at that point it's a non-issue since they will be leaving in 21 days or less.
Lease terms (by RathdrumGal [ID]) Posted on: May 14, 2018 7:22 AM
Join a local LL association. Even if it is a state LL association, and you never make it to the meetings, you will still get a packet of state specific leases and forms. You can also purchase state specific forms on this site. You then re-type the forms on your computer, and make any changes needed for your specific property (as long as it conforms with your state and local laws). You then have a custom lease going forward. --98.146.xxx.xxx
Lease terms (by rani3182 [TX]) Posted on: May 14, 2018 7:41 AM
our local association standard lease allows 3 days grace..I have not tested in court but do check local laws not just texas law --168.88.xxx.xxx
Lease terms (by Nicole [PA]) Posted on: May 14, 2018 8:26 AM
you should not ask us here what to put in your lease. Find, hire and pay for a local attorney to help you. Leases are at minimum state specific. Some of your questions like leasing terms about insults from tenants indicate to me you need assistance. You cannot dictate and micromanage like this. When things are subjective and minute such as this, you need broad coverage ... you will never be able to list specifics. --72.70.xxx.xx
Lease terms (by BRAD 20,000 [IN]) Posted on: May 16, 2018 11:36 PM
Get to Convention. I'm doing a big presentation on making your lease work for you.
Lease terms (by BRAd 20,000 [IN]) Posted on: May 16, 2018 11:37 PM
Because the theme is DO LESS, MAKE MORE.
A super lease means less work and more money!