It’s a good idea to have every tenant sign a detailed rental agreement. When you write the agreement, there are some specific points you will want to include to better protect your property and yourself. These terms will affect your relationship with your tenants and how they use your property.
1. Specify the Rent
Your rental agreement should specify how much you’ll expect your tenant to pay each month and how you will collect the rent. This clause should also mention any late fees or penalties that you will charge for late or delinquent payments. (more…)