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Well, you are not alone and you are not Micheal Jackson – far from it. Every day, thousands of ideas and value for time pressured owners and property managers travel the highways and back alleys of the information superhighway, looking for a free basic rental before they can print, fill and delivered to their new tenants along with the keys of the rental unit.
If you search long enough, you can probably find a free or cheap generic lease online. But before you fill it, take a minute to really think about the possible consequences. Remember the old adage that says, “You get what you pay for”? Well, if you settle for a generic free lease agreement template , you might just get more of what we negotiated – much, much more. A lease is a legal contract that sets out the terms of the agreement between you and your tenant. Basically, you rely on this document is to establish guidelines that define their entire relationship with your tenant.
Free lease agreements, which are a dime a dozen online do not cover much more than contact information of the owner and tenants. If you’re lucky, you might find one that has a space for the rent amount and due date. In short, these “free” leases typically leave a lot to be desired.
During recent decades, courts have become increasingly friendly to the cause of tenants’ rights. Many homeowners who are dragged before a judge by a disgruntled tenant – or who file a claim to recover a rental income of lazy – they are the liquidation of luck. If in doubt, more and more courts are automatically siding with the tenant.
When based on a lease that is vague, brief, or incomplete, you are putting your property, your investment and your entire business at risk. In legal terms, a contract that is skimpy or insufficient is not worth the paper it is written.
The kind of generic free lease agreements that you can find online are usually plenty of gray areas, omissions, contradictions, and even simple errors. In other words, are not exactly the kind of thing that will influence the judge in your favor if you end up in court. If not specifically set forth in the lease, chances are good that the court ultimately siding with your tenant.
Let’s face it – to stay profitable, landlords and property managers must be constantly looking for ways to save money. That means for holding in-store sales of home improvement, the choice of half of the category of paint and fixtures, and keep an eye for reputable contractors that will not charge an arm and a leg.
What should not mean, however, is sparing in its lease agreement. There are many ways for you to save money smarter, but this is not one of them. Think of it as an investment – the money they now spend in a comprehensive, legally binding lease agreement could save you thousands of dollars down the road.
