Mark Land Lease Agreement Made Easy

Sign Property management lease agreement electronically

when was the last time you updated or reviewed your lease agreement hopefully it's been at least in the last few years if not it's time to do that and I want to share with you our top 5 lease agreement clauses that come into play and are very very important as we deal with residents I think you'll find this stuff interesting so we're gonna jump around through five different aspects the first one I want to talk about hopefully you can see this on the screen first I'm gonna talk about us what do you do when a tenant doesn't sign a lease renewal okay so the lease expires they don't sign a lease renewal but nor do they turn in a notice to vacate now in most states legally what that means is they flip on to a month to month term and many of us don't like month-to-month lease terms especially if we're living in a state where the climates a little bit colder because as we say we don't like people to move when they have turkeys and we don't like them to move when they have Christmas trees because we can't fill the vacancy so we want to discourage somebody from going month-to-month and the way we do that is by putting this clause in the initial lease agreement and it simply says this if we have not received a signed written notice of intent to vacate from you and your lease term has expired you will be on a month-to-month lease term straightforward enough and mostly that's just reiterating what the laws are in most states that's probably how your state works as well but there's a second sentence and it says this your rent will increase by X percent you put in a big number there X percent per month on a month-to-month lease term see what you're doing is you're building in a rent increase should that individual choose to go month-to-month either by choice or because they simply have not signed a renewal nor a notice to vacate now what number should you put in there a big number all right we used to have in this for many years there was a 10% increase so if you just chose to go month-to-month your rent was going to go up by 10% which we thought was a pretty big stick to encourage people not to go month-to-month well I'm in Colorado the Colorado rental market is hot so a number of months ago we had a tenant who did not renew his lease and it came time it came the expiration date so we called him and we refer to this clause and said mister tenant you haven't renewed your lease you haven't turned in a notice to vacate your now month-to-month and your rents gonna go from and let's I don't know what it was and saves a thousand dollars a month was his rent so now your rent...