This lease and associated documents are a result of our 20 plus years of landlording experience managing over 20,000 tenants.
Just as it is with our management agreement, this lease was originally written by a professional property management professional, not an attorney, as so many leases are written. We believe this unique factor provides a valuable and functional perspective that cannot be matched by an attorney that is not serving in the property management profession.
Every lease becomes a statement of company policy. If it reads like a law book, the policies will likely not be clear. Tenants are not comfortable reading complex legalese and leases written in this manner typically do not bode well for the property manager. Misunderstandings and surprises become the root of big problems. Nobody like surprises! Misunderstandings and surprises make people want to sue someone. We don’t want people suing us because they did not understand our agreement. Even if we feel we’re on the right side of the law with a well written but hard to comprehend lease, dealing with any lawsuit to prove this can be both time consuming and expensive. One never knows what judgment will be handed down by a judge or jury. They sometimes side with the tenants just because they don’t like landlords. We have experienced this many time over the years. Consequently, every time we have had a miscommunication or conflict, we learn from those experiences and we often add or change some language in these documents to prevent it from happening again.
We have spent thousands and thousands of dollars with multiple law firms on these documents over the years and continue to tweak, polish, refine and adapt them to protect ourselves from litigation and to help us make and keep more money. The operative word in the last sentence is “multiple”. Even though we write the documents from a practical perspective, we still want to be sure we are legally compliant. The more attorneys we can have review the documents, the better.
We have many supporting documents (see Lease Document Package 2 – Support Documents) that can be used with our six page lease. Many addenda and exhibits highlight certain policies that we want to be sure the tenant doesn’t miss when reading the lease. Sometimes courts like it better when we do this. It’s all about full disclosure and ensuring full understanding of the mutual agreement.
We also use a Tenant Handbook (which is part of this Lease Package) that conveys easy to read, clear policy statements, with much of the legalese removed and reserved for the Lease. You can take this document and craft it to your model as well. We find that when we break out the lease agreement into smaller segments that the tenant doesn’t feel overwhelmed with a huge 35 page lease. There was a time when we had just that, a 35 page lease!. In those days, we knew the tenant would not read the lease in its entirety. The courts knew it too, and it likely created a tendency to side with the tenants. This method we present to you has a much better track record.
One of the biggest advantages of this lease is that you’ll discover all the fees we’ve added to it over the years. You not only get the lease, designed for a professional property manager, but you pick up dozens of ideas on ways to generate more income while managing your tenants. We should sell this for $2000+ but we want lots of managers using it so we priced it at a fraction of what it should cost. The income you’ll gain in the first year alone would justify spending several thousand dollars for it.
You can get a lease anywhere but not one from a manager with 20 years of experience landlording. You can learn this stuff yourself over the next 10 to 15 years or have it today by downloading these documents. This is the rental agreement we use today and are doing 20 to 30 move-ins a month.
In addition, we are including The Tenant Handbook in this Package because of how it works with the lease in providing the best Tenant / Management experience. The Tenant Handbook allows you to put in writing what the tenants should expect as to how you will be managing them and the property as well as a way to keep you and your staff accountable to answer tenant questions the same way every time.
You can download these documents with (or without) the supporting documents in the Lease Document Package #2 (Support Documents). It works great as a stand-alone agreement or in conjunction with all the other documents listed in Package #2.
With this Lease Document Package 1, you will receive:
- a fully editable lease document that you will add your name to, make some dollar (and percentage) changes, and be up and running in minutes; plus,
- a full lease document filled in with instructor training notes after every paragraph (11 pages long) addressing each issue in detail; plus,
- the fully editable and critical, but often overlooked Tenant Handbook, plus,
- a full Tenant Handbook document filled in with instructor training notes after every paragraph (39 pages long) addressing each issue in detail;
You would pay an attorney several thousand dollars to get these documents and you still wouldn’t have all the author’s experience and all the money-making ideas.
Forms and documents are Mac and PC compatible. Files are in Microsoft Word format for easy editing. If you cannot work with Word files, let us know and we will send you a format that works with what you have.
All forms and documents are fully editable.
All forms and documents are download only.