The tenant needs to know all the rules and the correct lease gives the tenant what they need to know.
When a property manager or property owner adopts a lease it is extremely important that it be legal within the state laws in the state where the property is located. States all have different laws when it comes to many tenant/landlord laws. Check with a local attorney to make sure the paperwork you plan on using complies with your local laws.
A property manager may have a standard lease and it should be in full compliance with all State laws. Typically the property manager does not sign the lease, as it is between the tenant and property owner, but the property manager enforces the terms of the lease.
One of the main reasons that it must be correct for the local laws is that if anything should go wrong, such as an eviction or a question about late fees, if the terms of the lease do not apply to that State, you could have a serious problem enforcing that agreement in court.
Some of the items that could be state specific include: late fees including if late fees can be applied and when. Late fees normally cannot be collected if they are not in the lease and are legal for your state. Another item that could be an issue with your local laws is carry over tenants (that is what happens when the lease ends. Also who pays for utilities, yard maintenance, snow removal, and rubbish removal. Also of concern are laws concerning eviction.
A lengthy lease may at first seems over-kill, until a situation arises that you wish you had addressed. My lease is 10 pages long, but it covers everything to protect the property owner and almost everything a tenant need to know. When I say almost everything a tenant needs to know, that is the legal things a tenant needs to know. There may be other documents, building rules, pet agreements and many other agreements that could be used in additional to supplement the lease.
When adopting a lease you may start with a general format you like or are accustomed to and then have an attorney put in additional language that you and your attorney feel are important.
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