Many real estate investors struggle to find the proper rental lease agreement for their properties. In fact, having a poorly executed lease agreement leads to rapid tenant turnover. Therefore, it is important for landlords to understand the best tactics they can use to construct a well-executed rental agreement that ensures tenant retention.
Avoid Biases By Reading The Agreement Like A Judge
Ideally, you want to be fair to the tenant. But you also need to consider your interests too. This means that you have to observe the rental agreement for what it is and for what it is not. In fact, once you have a draft of a potential rental agreement it is recommended that you read it through the perspective of an unbiased third party. Thinking about a rental agreement in this way alleviates any potential biases and allows you to execute a fair and reasonable agreement. By creating an equitable agreement that benefits both landlord and tenant equally you are sure to retain tenants easily.
Good Lease Agreements Will Keep You Out Of Court
Unfortunately, being a landlord comes with it’s drawbacks. For instance, tenants may file suits against you for any misconduct or breaches of contract that they feel they endured. In fact, there is a whole aspect of the law dedicated to landlord and tenant disputes. However, if you can create a fair lease agreement there is a very low likelihood that any suit will be filed against you. Basically, treat tenants with respect. Only then will you be treated the same in return.
Making A Lease Reasonable For Both Parties
For the most part, there are myriad of tenant-friendly leases. But there are also leases that are neutral and can benefit both parties. In fact, opting for the latter is a surefire way to make sure your tenants continue their leases. Furthermore, fair leases provide you with a benefit to continue to lease the property.
Trust the Professionals at Clagett Enterprises for Your Real Estate Needs
If you’re looking for the perfect realtor for your property or to assist during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistant selling your home and getting the best possible price, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, Pinterest, and Google+.