Renting out an apartment is not easy. You have to make sure that you are renting it to the right person. Someone who won’t turn your property into a dump that you will later have to invest a lot of money in. This is why making an apartment rental agreement is very important. This paper is what both you and the tenant have to sign and stick to the terms that are written there. You have to have this agreement in writing which means that you have to include as much information as you possibly can.
We would always advise teaming up with professionals who will make this agreement for you but not everyone has the money to do so. And if your plan is to create an apartment rental agreement yourself, this is where you will find some of the things we believe you should at least consider including in this document.
If you rely on others to pay rent on time by them just telling you that they will pay you every 5th of the month, for example, you might have plenty of issues. This is why including the due date in your rental agreement is necessary. It is best to give your tenants a couple of days for them to pay rent. It would be best from the 7th to the 14th for example. This is when most people are paid and when they will surely have the money to pay rent.
You will surely take a deposit for the home or even a couple of them. And this is something to be included in the rental agreement as well. State the terms of why you would have to keep the deposit when the renters decide to move out. Also, state what are the things the deposit covers. It should only cover the things in the home that belong to you and that were there before the tenants moved in.
Something will surely get damaged or stop working as time passes. This is why stating what are the repairs you will be covering. If the fault is caused by the tenants, they are the ones who have to pay for it to be fixed. But if it is a fault that didn’t have the influence of tenants, you are the one paying for it.
You need to include just how much time in advance you have to inform your tenants that you will be visiting the property. A couple of days is the best option. We found that most people put three to five days which is logical. This means that your tenants will have enough time to clean the home before your arrival. But also they will be able to repair anything that needs to be repaired if the situation is like that.