As a visual guide, we are using the lease offered by the Utah Apartment Association, which has a clean, simple lease that you can view/use here.
Include who and what is involved. List the landlord’s name, the resident's name(s), and the address of the property that will be leased.
Identify what type of lease it is - One year? Month-to-month? Six months? Then specify the dates that the lease covers.
Write in the amount that the property will be rented for and when the rent is due. Also include what the grace period is, how much will be owed if not paid by the end of the grace period, and what will happen in the case of a bad payment.
If there are other fees associated with the lease agreement, such as pet or garage fees, list them down and the amount.
Signing the lease includes a lot of up-front fees, like the deposit and last month’s rent. You will need to include what these fees are and for how much.
When it comes to utilities, it is often a mix between the landlord and resident who pays what. Let the resident know which utilities they will be responsible for paying.
Sometimes your resident will have guests over. Sometimes those guests overstay their welcome. In your lease you will want to outline how long guests are allowed to stay and what will happen if these rules aren’t followed.
Parking. Let them know where they are allowed to park and where guests can park. It is also smart to write in your records what their license plate number is.
Some landlords will let their residents sublet and others won’t. Decide what you will allow in terms of subletting, both for the apartment and for the parking space.
Also include what type of alterations the resident can make to their rented space. If you are fine that they paint the walls as long as they let you know, include this.
Getting down to the nitty-gritty - this is what you’ll find listed on pages 3 and 4. Noise levels, an agreement that the landlord can come in for inspections with prior notice, smoking, repairs, etc. Unfortunately, these are points your residents are likely to forget about/not read, but are important to include in case anything happens.
You will want to state what will happen if the resident breaks their lease.
Landlord’s and resident’s signature, along with the date.
There are several websites online that include pre-written standard rental agreements that landlords can use. If you want to write up your own, be sure to have an attorney look over the lease to make sure it is written correctly and includes all necessary points. The lease is an important document and is worth the time and effort required initially to protect you and your property in the long run.
