A key document which every Atlanta landlord should have is well-crafted rental agreement. This is going to help you, as the owner of the property, not only to spell out terms and conditions but also to lay down rules and regulations by which your tenants should abide with so long as they occupy the property. If you do not already work with an Atlanta property management company, the below pointers will help a lot. If you are looking for a property manager in Atlanta, click here.
Rental Agreement Basics:
8 Elements To Include In Your Atlanta Rental Agreement:
1. Parties to the rental agreement
For a contract to exist, obviously there must be some agreement between two, or more parties. Ensure, therefore, that you clearly define who the parties to your particular rental contract are. You should provide the legal names plus address of the tenant(s), and landlord involved in the agreement.
2. Property description
Provide a summary of the Atlanta rental property under construction. Most property owners often do not know what to include or not to include in the property description part. This information must not necessarily be a comprehensive one. It might be as basic as the building’s name, the type of property, street number or name, and the LR and apartment number.
A good Atlanta rental agreement should state the date and, where possible, the time it comes into force, and the time it is going to end, and how either party may terminate the lease.
Ensure the rental agreement adequately spells out all matters of rent. It should clarify the monthly amount, the date for rent payment, where to pay, and in what form to pay the rent. It should also detail the repercussions of late or non-payments, like evictions and fines.
5. Security deposit
Request the tenant to provide some security deposit, which is going to help you in case your renter defaults in rent and/or utility bills payment, or destroys your property. The agreement should be clear on the amount of the security deposit, how your tenant should pay it, where you are going to hold it, and under which conditions you are going to release it to the tenant.
6. Property occupants
You have the right, being the landlord, to know who your Atlanta property occupants are, including those who are going to be frequenting your property. Also, when you do not like pets on your property, or you have some specific rules when it comes to domestic animals, include it in the rental agreement.
7. Property damages and repairs
Some features or items of the property may be damaged during the course of the tenancy. Therefore, your Atlanta rental agreement should include. Therefore, thorough description of the condition the tenant received the property. The contract should clearly clarify who is responsible for repairing any damages and, generally, maintaining the property. For a look into repair tips,, click here.
8. Right of entry
As the landlord, it’s your responsibility to ensure the property is safe, and the tenant is using it as per the contract. You can only do this by frequently inspecting it. Therefore , ensure you include a right to entry clause that will allow you, or your designated Atlanta property manager conduct frequent inspections. But as a sign of good faith, you should include some reasonable period for alerting your tenants of intended visit.
Guest Post by Atlanta Property Management Company:
1984 Howell Mill Rd NW, Atlanta, GA 30327, USA