The Perils of the Non-Written Lease Agreement.

There are a number of situations in which an unsuspecting Homeowner may Lease or Rent a unit without the proper legal documents. Family obligations, friendly gestures, or simple misunderstanding of how to best protect yourself as the sole proprietor of a property are just a few ways the terms of a tenancy can become tricky. It should be noted that the first and perhaps most important advice any property manager will give is to ensure that any Leasing is documented in hard copy form with proper dates and signatures. Communication is the key! Clearly outlining terms, conditions, and expectations for the duration of tenancy as well as ensuring that all pertinent parties are informed of these requirements is always the preferred way of avoiding legal troubles in the future. It is helpful to include specifics such as rent due dates, late fee and pet policies, a list of the personal property of the owner that may remain within the unit, warranties-or lack thereof- on appliances, and notes on the use of security deposit are just a small example of what your fully encompassed lease should include. The Lease Agreement supplied by the MAXIMUM Team is a document 15 years in the making and covers these aspects and more. Our strength is in our experience and the invaluable document editing we apply to all of our contracts reflect the ever changing tenant-owner landscape. At MAXIMUM, protecting you and your investments is our highest priority.