This legally binding agreement is the foundation of your lease and the governing document of your tenancy. It should describe in detail and specify every aspect of your legal relationship with your tenant. It includes information about security deposits, rent amounts, utilities, and who is responsible for maintenance and repairs.
Without a lease agreement, terms can be vague and confusing. Without a clear and referenced agreement, disputes can arise and quality of life can suffer.
When is rent considered past due? When are late fees charged? Are there any fees for lockouts? Are late fees and attorney fees considered additional rent? All of these questions should be addressed in your lease agreement. If not, we recommend downloading the POA Lease Agreement. In addition to regulatory information and state-mandated notices, a lease agreement covers all of your bases so that you are as protected as possible if problems arise during your lease. Having a consistent set of rules that both the tenant and landlord can refer to alleviates confusion.
When something does go wrong having an enforceable state specific lease makes eviction or even negotiation easier.