The lessor agrees to lease the property: A roommate lease is a legally binding contract used by landlords and roommates to establish rules on rent and incidental costs, property damage and household obligations. I would recommend Brandon Turner`s registry. There are standard forms, rental agreements and lots of good information for new owners. I use Ezlandlordforms.com for rental contracts (they have specific local DC modifications) with the BiggerPockets tenant screening service (transunion smartmove) as well as the comfortable online pickup for hire. I do venmo or PayPal also for rent collection, if they prefer that. Once the tenancy agreement has been signed and signed, give the keys to the tenant so that they can move into the unit. I`m voting @David Hutson! The first and most important step is the search for a qualified tenant. Before you start looking for a rental agreement, I recommend finding rental software that helps you find a qualified tenant. Features that help are online marketing, online applications and customer screening. For online marketing, you want to make sure that you are on all the important list sites (Zillow, Hotpads, Trulia, Craigslist). The more eyes on your offer, the more applications, increase your chances of finding a qualified tenant. I also recommend the use of online applications for certain reasons. It is more flexible for tenants to fill their own time, and it is less of a responsibility than walking around with a paper request with tenants for personal information.
Finally, make sure you have a screening service in place. I always recommend a background check, a credit check and a full eviction report. Also check income, employment and call donor referrals. A rental agreement must explicitly list the monthly rent amount and specify the consequences for late rent. Frequent rent violations are unpaid rent and electricity bills, property damage and tenant who breaks the law. I just bought a house and I planned to rent the basement. After the initial research, I find that signing a tenancy agreement with the tenant is one of the most important steps of the rental. Would someone be willing to share a sample of your lease or another basement or room lease? TIP: It is recommended that you re-forward your state`s rental laws for more information when you plan to sign a long-term lease. This model of tenating house lease contains the following information: contact information for both parties; Details of real estate, rental and payment Terms and conditions The rights and obligations of both parties. This PDF model is clean and professional. A tenancy agreement grants the tenant the right to occupy the property for a fixed term, which usually lasts from six months to a year or more.