Six Things to Consider Regarding (Residential & Commercial) Lease Preparation

David Scillieri, Attorney At Law Profile Image

Practice Areas: Real Estate

Are you a Landlord? If so, how have you approached lease preparation?

It is highly recommended that landlords utilize attorneys in the preparation of residential and commercial leases. 

Among other issues that an attorney will make sure that you are protected include:

 

1.  The late fees and attorney fees must be properly cited as additional rent in order to make them enforceable.

2.  The number of occupants to reside in an apartment should be specifically stated in the lease.


3.  The responsibility for minor repairs should be specifically delineated in the lease.


4.  Rent increases over time must be properly stated and structured to avoid future disagreements.


5.  Personal guarantees and responsibilities must be properly stated to avoid future problems with collection.

6.  Lease termination divisions must be properly and specifically set forth to provide notice provisions for both parties so that there is no conflict at the end of the term which could potentially harm all parties.

 

I hope this is helpful as you navigate the lease preparation process.

NOLODRUPAL-web1:DRU1.6.12.2.20161011.41205