Sign Residential Lease Contract Online

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everybody French in here with REI Club commonly silently as a real estate investor today's quick video where we talk about how to fill out a lease agreement like in all my videos include everything that I talked about in the description below so all you got to do is click the show more button and you can follow right along now I get asked all the time you know Frank can I actually see real life examples of the things you're talking about so what I have in front of me right now is a lease agreement now they do vary by state but for example purposes I have the one for Texas now I know that could seem pretty daunting and this is actually 14 pages and there's a lot to cover so what I'm going to be doing is pretty much emphasizing some focus points that you should be going over with your tenants okay so the very first thing we talked about is page 1 is a party's in property so your name tenants are all involved and the property address they'd be renting from okay next thing is closet or 3 it's a term when the contract is active and when it expires you just want to emphasize when it expires so your tenant is very as awared when they need to notify you if they need to renew the contract or when they're ready to move out ok of course that they don't notify you then the contract is automatically renewed on a month by month basis page 2 guys we talked about after you rent this is where he actually include how much you're gonna be paying per month and let them know that they should be paying on the first of every month just to make things easier for you prorated prorated rate is for them to know that if they move in the middle of the week you're a pro right the rent for them very simple see place of payment I usually include my P o box address here never your personal address ok if you don't have a P o box right now they're pretty cheap I pay about seventy two dollars for six months about four hundred forty-four dollars for the whole year okay now this another thing I emphasize the method of payment let's know I will take cashier's checks money orders or Auto dragging I will not ever accept personal checks due to bouncing or return checks I hate that okay say let's say on page choose the late charges I let them know like you know once again it's paid on the 1st of every month before 5:00 p.m. if not you're gonna charge a $25 initial fee a late fee and then $10 every day after that until your rent is due until it's due okay this is pretty good you can use those numbers exactly they work for you well page let's see for page four we're talking about pets now pet summary it is we tell you that you can't have past pretty much says you can't now if you're ten and if you're okay with this you're going to add a pet addendum with the specifics of what is and is not allowed of that pet I need to chart a 300 to $500 non-refundable deposit just pretty much covered my carpet cleaning costs and things like that okay people with pets are very used to this next thing you want to talk about guys is the security deposit usually I ask them to bring this with them it's usually the first month's rent as well as their first month's rent so you have a secure deposit as well as your first month's rent okay now what is this your deposit to cover we're going to move on to page five right here their deduction you know if they've unpaid late charges unpaid utilities unpaid pet charges I usually just ask them to kind of go through this on their own time because there are a lot of clauses to go through and there's a lot other stuff to comport things to cover as well so um so let's leave my quick tip of the day is you know all you're really doing through contracts is highlighting the main points that you want your tenant to be uh made aware of everything else you simply just say you know take the time or take your own time to kind of go over these so you're well protected okay next thing we want to talk about guys is utilities as a landlord you're not responsible for your tenants utilities electric gas waste they have to activate this under their name okay so let them know that and they can also let them know what your current services you're using to kind of help them out page six we're gonna talk about occupancy pretty much gonna let them know who and who is not allowed on the premises and what the property can and cannot be used for I say this because people in buying properties have actually ran a Barbie future business out of one of my house is not good or when a car repair business out of our property not good okay so simply just let them know who can and cannot be and of course what can and cannot be done on the property okay actus the landlord same we're still on page six clip and let them know the procedures behind how you're going to notify them prior to you coming to the property to another check it out maybe bring a contractor by whatever it is just something I don't know how you're gonna be contacting them okay page seven uh we like to talk about move-in conditions okay moving conditions are pretty much you hand them off a inventory and condition form it's a a two to three page checklist to identify any damage to the property prior to move in okay have them turn that into maybe a week after they move in or at most two weeks if not if they forget to turn it in then your property is deemed damage free which is great for you okay now under the move out conditions I like to emphasize normal wear and tear and explain what that means exactly what that means because it does vary in everybody's mind okay and of course I compare everything to the original forms that they checklist the checklist form when they move out to make sure what they owe me okay next thing okay it's going to be page eight isn't be property maintenance there are twelve clauses here and I usually just like to emphasize for first one is change out the air condition filters I tell them if they do that it will not only keep the air cool but your electricity bill down for supply replace all light bulbs first and bulbs and batteries smoke detectors I just like to emphasize let them know that this is the 10s responsibility and not mine because they always think it's my responsibility 7 take all the certificate costs to prevent broken water pipes is usually fredo winterizing we take care of that service for our tenants because they don't know how usually and number 11 know the location operation of the main water cutoff valve and electric breakers I encourage all landlords to do this okay to a location of operation main water cutoff valve and electric breakers this will save your life next thing money emphasizes yard maintenance especially if they're moving from an apartment to a house a lot of times tenants don't know or are comfortable with taking care of the yard they don't know how so I don't know that the entity cable on the truck or the bushes things like that otherwise the city will combine find them Orioles you'll send out someone and charge them for that okay prohibitions I don't know that any altercations removal of fixtures updates things like that need to be run by you first that's all you're really emphasizing tom is simply go through this on their own time these are all like the stipulations okay also repairs same process they cannot repair anything without your approval first so let them know that that we notify you by phone or by letter email however you want to be contacted that's why you're going over this with them okay that was page nine let's see here page ten pretty much is the cost of repairs and it's simple normal wear and tear they need someone to send out an electrician or a plumber let them know that you'll cover that cost but they have to pay for some of the fees maybe the diagnostic fee was used around 80 dollars just for something to come out and identify what the problem is okay now you have all these other things on page 10 like trip charges secure devices smoke detectors like I say Astra tend to go to these on their own time page 11 liabilities attorney fees holdover subordination all these but one thing I put it's special provisions these are the kind of the separate agreements you have with your tenant your separate addendums addendum ABC you know for security deposit pet deposit things like that okay you want to include here you're going to simply attach those agreements to this to this Agreement okay that's how atoms work now let's see here page 12 early termination you know real quick military from the military they could call the duty they're immune to this contract so kind of be aware of that and of course subletting and assignments they have to notify the landlord for approval so you can drive to another agreement for that okay simply soldier kept in the loop of course page 13 allows them to know the all the same thing again you kind of lengthen the goal of these are their own time representation addenda notices agreements and parties nothing really that important you need to go over that they that they can't do on their own time 14 informations okay last and final page tell them include their secure other emergency contact and emphasize that landlord insurance has not covered their personal property they have to get on their own insurance for that and this is simply just cover your butt and theirs okay now at this point pretty much you've got over everything you're going to have your side your assignment under they're going to have them you're going to sign it here they're going to sign it there okay now of course you're going to make a copy of this contract drop it off to them when they have it and some few tips for you I usually sign and initially Congress along side the tenant but you know I usually have the essentials already filled out okay back to page 1 I have my name the address you know the dates already filled out how much rent is due the date of due date it's due my dress everything that you can already felt prior to me them go ahead and do so it'll speed it up it'll look very professional that way you can simply just go over each page and review with them and how will them an initial at the bottom of each page as you go through it okay it'll save you a lot of time it's really efficient it makes you look like a professional now understand guys I'm filling out lease agreements yes can be daunting at first because of course all the pages all the legal terminology but if you're really read through it it's not that hard now it's important that you review it multiple times and become very familiar with all the terms and clauses that way you sound professional when you talk to your tenants now this is important the reason why is there are professional tenants out there who know the law better than you and can they make you look out make you look like a fool so you know be smart be diligent you know what you're gonna be very well protected okay so I know I went through this rather quickly guys like I said it's a lot to cover 14 pages like I said include everything the description below that you can follow along and kind of make sure you didn't miss anything do me a favor guys leave a comment below about what you thought about this video put the like button because it really does help us out but more importantly subscribe to our YouTube channel so we can keep informing brand new videos are posted every week as usual guys thank you so much for your time look for tukya next week take care good investing and bye bye