A strong and customized lease agreement will protect your property and set you up for a successful rental experience. Your lease agreement does more than set forth the terms of your contract; it also provides a handy how-to guide when your tenant isn’t sure about what’s required in a specific situation. It facilitates communication and education. If there’s a dispute or a conflict between landlords and tenants, the lease agreement is the first place that both parties will go.
We have seen lease agreements as short as two pages and as long as 20 pages. They tend to be specific to the area and the particular property that’s being rented. Here are 10 terms that absolutely must be included in your Kansas City rental property lease agreement.
1. Names and Contact Information
First things first, you’ll want to have your tenant’s name as well as the address of the property they’re renting. All adult tenants should be listed on the lease agreement after being screened. Minors who are under 18 years of age are not necessarily financially responsible for the rent, but they should be identified in the lease agreement as well.
You’ll want to put your name and contact information as the owner of the property as well. If you’re working with a Kansas City property management company, share that contact information in the lease.
2. Lease Term and Renewal Instructions
The lease should have a specific start date and end date. You’ll want to note what happens at the end of the lease. Some agreements will immediately become month-to-month leases. Others will require a renewal or a notice to vacate 30 or 60 days in advance of the lease ending.
3. Security Deposit Information
Your lease agreement should reflect how much of a security deposit was collected. You can also include information about what the tenant will be expected to do at the end of the lease term in order to receive a full refund of that deposit.
4. Rent Collection Policy
Make sure your lease agreement is clear about how much rent is due, when it should be paid, and how it should be paid. Include whether there are any grace periods for tenants to pay as well as consequences to late rent. You’ll want to list your late fees and explain how they’re collected.
5. Maintenance Policies
Instructions on how to request maintenance and repairs should be included in the lease. Be specific about what tenants are responsible for, such as air filter changes. Explain how to report an emergency versus a routine repair. Make sure the lease is clear about what constitutes an emergency.
6. Landlord’s Right to Enter
Tenants should reasonably expect to enjoy privacy in their home. Your lease must state when it’s acceptable for the landlord to enter the property, and under which conditions. If you want to conduct an inspection halfway through the lease term, for example, make sure that’s spelled out in the language of the lease. Landlords should also be granted permission to enter if there’s an emergency.
7. Pet Policy
If your tenants are moving in with pets, you’ll want to have a specific and detailed pet policy included in the lease. It should reference whether a pet fee or a pet deposit is collected, and explain the amount of pet rent that may be charged. Mention the tenant’s responsibilities in terms of cleaning up after the pet, keeping dogs on leashes, and monitoring the animal’s behavior. You should also reference penalties for violating the pet policy.
8. Address Utilities
Most tenants in Northland and throughout Kansas City expect that they will set up their own utility accounts and pay the bills. However, some rental homes include utilities or the landlord maintains the accounts and bills the tenants for usage. However you’re going to structure your utility payments and responsibilities – make sure it’s found in the lease agreement.
9. Rules and Requirements
Include a section in the lease agreement that discusses what is permitted and what is prohibited. If you don’t want tenants smoking inside the property, for example, that needs to be in the rules section of the lease. You should also reference noise, quiet hours, parking, overnight guests, and criminal activity.
10. HOA Rules
If you’re renting out a home in an HOA or a community association, they will have their own set of rules and regulations. Make sure your lease agreement includes them.
We manage rental homes in Kansas City, North of the River, and throughout Liberty, Parkville, and Gladstone. If you have any questions about how to put together a strong lease agreement, please contact us at Donley Carver Investment Properties.