6 Terms Every Landlord Should Add on Their Apartment Lease Agreement

 Every landlord should add key points to his or her lease agreement as soon as possible. The lease agreement is the apartment renter and the landlord have agreed upon renting a unit. By law, lease agreements should have the parties who are living in the unit. It should also include if pets were part of the contract. The lease agreement should clearly state how much rent should be paid every month and by what date. Some landlords will require a background check along with a credit check and income verification like paystubs or a W2.

All Property Owners Must Read This

Several months ago I negotiated a commercial lease for one of my clients, where this client was the landlord and a “niche” program (local non-profit program) was the tenant. Overkill you might ask. Perhaps, but not in the face of challenges with tenants.

So, in this particular case rents were due on the 1st of June. Guess what – no rent, just excuses. On the 10th, per the lease, late fees kicked in and if rent still was not paid a default could be declared and within 3 days of the default. This is all covered in those 100 plus clauses and provides very specific remedies and actions for both parties (landlord and tenant). While I realize that many of the requirements found in a commercial lease would never survive in a residential environment the key point is this:

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