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- A good lease is the foundation of any strong landlord tenant relationship but it can be challenging to write a lease on your own. That's why today I'm gonna share with you some of my favorite templates for lease agreements. (upbeat music) Welcome back Loopers. My name is Sydney and I'm a content creator here at DoorLoop. So to get started, what is a lease agreement and who needs one? A lease agreement is a contract between a landlord and a tenant. It says what the tenant will pay for your rental property and outlines the rules that they need to follow while living there. To put it another way, lease agreements describe the obligations that landlords and tenants have to one another during the duration of the contract. If either party fails to uphold its obligations then the other may have the right to cancel the agreement and may potentially sue for damages. Every landlord tenant relationship should be centered around a lease agreement. Without one of these, it can be difficult for a landlord to seek payment for damages and remove the tenant from the property if they ever need to. The bottom line is that if you have a tenant living in the property without a lease agreement, you as a landlord are leaving yourself up to much more risk than necessary. There are a variety of lease agreements to choose from and the best fit will depend on the type of tenancy that you're having. For example, some of the most popular types of lease agreements include annual agreements, month to month, vacation rentals, commercial leases, lease extension agreements, sublease agreements and rent to own leases. There are pros and cons to each style of lease agreement so be sure to consider all of your options before finalizing your decision. For example, annual leases limit landlord's ability to increase rent charges for at least one year. However, they also ensure that you get paid for the unit for an entire year, which of course could be a big benefit in rental markets with low occupancy rates. So let's take a look at some of the most popular templates for lease agreements. We'll highlight eight of them that I think would be a good fit for you. If you have a single family rental property that you plan on leasing out then it's important to have a lease document that covers all of the necessary provisions and clauses. That's why DoorLoop created our free single family lease agreement template. It's a fully functional template that contains everything you need to form a legally binding agreement with your new tenant. We've also included some helpful lease clauses to get started. You can download it for free in the description along with all the other leases I'll be mentioning. If you wanna create a standard 12 month rental lease agreement with a tenant, the house rental agreement template is a good fit for you. It's an easy template that you can fill in with the required information in 15 minutes or less. The month-to-month template is good for variable term tendencies. It has some nice clauses included in the lease already such as holdover tenancy and use of premises, so you won't have to fill these out yourself. Leases for vacation rentals can be similar to month-to-month leases. However, there are enough differences to make it worthwhile to use a specific vacation rental template such as the one that I linked in the description. You may also periodically need to renew a lease agreement with an existing tenant. This process is a bit different than signing a standard lease, so it's important to ensure that you have the right template. If you like to sign a lease renewal agreement with a tenant I linked a good template to get you started in the description. Commercial leases require special provisions and clauses. If your rental property is a commercial space you can use the commercial lease agreement template to rent to a new business. Whether you use the attached commercial lease agreement template or not, make sure that you take care when outlining the clauses included in a commercial agreement. They're typically much different than residential lease contracts. Some of the tenants may request to sublease their units and as a landlord, you don't necessarily need to allow this. However, if you do so, you should make sure that the agreement contains all the necessary provisions and legal protections. With that in mind I did link our favorite sublease agreement template. And finally, the rent to own template. Renting to own a property is a relatively rare phenomenon now, but if it's something you're interested in pursuing with a tenant, there is a lease agreement you can use to ensure it's done correctly. Using a lease agreement template is one way to start a new lease with a tenant but it's not your only option. Door look makes it easy to create your own custom leases, add tenants to them, and receive all of the payments and signatures that you need from a single platform. So let's go over how that works. The first thing you need to do is log into the DoorLoop platform once there and navigate to the new lease button at the upper right of the display. At that point, you'll be prompted to choose the property for the lease and the unit that it applies to. You'll then be able to choose lease terms such as fixed term or month to month and enter the appropriate dates. Next, you're gonna add the tenants to whom the lease applies. You'll accomplish this by clicking the add tenant button on the platform. If you've already got the applicant's information the tenant should pop up automatically for you to add to the lease. If you don't, you'll have the ability to create a new tenant profile and input their information. Once you've added the tenant to the lease you can start setting up the rent charges and other fees for the property from the transactions tab. You'll have the ability to set up customized payment amounts and payment frequencies. You can even schedule rent increases in advance and add late fees to the lease. Now all that's left to do is to send the lease to the tenant so they can sign and activate it. DoorLoop makes this easy to do as well. Simply click the not sign button when prompted by the platform. This will pop up an option to send the completed lease to the tenant so that you can get their eSignature. There are many ways to create a lease for your rental property from writing the lease by scratch to using a template. But if you wanna make the process as easy as possible from start to finish without sacrificing quality, DoorLoop may be your best option. DoorLoop is also an all-in-one property management software, and it takes care of the complicated aspects of leasing for you. It's also a tool you can use to manage every aspect of your property from accepting rental payments to managing maintenance request. If you'd like to learn more about DoorLoop you can click the link in the description for a free demo. Now for a few frequently asked questions. "What should a lease include?" A lease should include specific payment requirements, security deposits, late fees, pet and parking clauses, a notice of entry procedure and any other clauses that may be relevant to your property. It only needs to be notarized if your state requires it. Some states like California don't require notarization. Others like Washington State do require notarization for leases longer than 12 months. Check your state's requirement to find out whether your lease needs to be notarized or not. "What are the five things that should be included in a lease?" Payment requirements, name of tenants, terms of tenancy, repairs and maintenance requirements and the details about entering the rental property. Your lease may also need clauses for pets and parking and other tenancy restrictions depending on your situation. "What are the three most important clauses you should look for in a lease?" A premise clause, subletting clause and a severability clause. However, this can vary based on what matters most to you as a landlord. Now that's it for this video. If you wanna join a community with other real estate professionals, join our exclusive Facebook community with the link down in the description. And to learn more about property management, check out this playlist and we'll see you there.