The Lease — Broken Down: 3

Now that you know what you are responsible for as a landlord, let’s dive right into exactly what should be in the lease.  Well, you always want to make sure that you include the rental fee, how long the lease is going to last, how the tenant can renew the lease and you should make sure that you include things like pets – if you allow them or if you ban them, a clause about visitors.  If you are renting an upstairs apartment of your home, how many visitors can the tenant have at one time?

These are all things that are very, very important and things that you will need to make sure that you address.  One of the most popular forms of leases are fixed term leases.  What this means is that the lease will usually last for one year and it details from start to end.

The lease of course can be renewed but you want to make sure that it can be renewed on an annual basis.