A rental lease agreement covers all possible issues and loopholes includes in rental leases. Even if you trust your tenant, you need to have a lease agreement for renting that is written in a proper way. Most property managers have lease agreements that comply with the landlord and tenant law of the area or state. Standard agreements cover everything, including rules and regulations, repair and maintenance, lease term, rental premises, rental payment and more. Find out about 3 clauses regarding rental raises to consider including in rental lease agreements. For more information about getting a rental lease agreement in Georgia, please visit this website.
Percentage of increase
Do not hesitate to put an increase of 2 to 5% in rental payment amount in leases. A tenant who has knowledge about how maintenance and utility costs increase will not be scared by such a raise. In case you decide to waive the rent increase, it will be a favorable gesture for your tenant. The percentage of increase should be according to the guidelines about rental increase set for your area.
Tenant's responsibilities for rental increase
Whether it comes to a multi-family, duplex or single house rental, you may consider including a clause that states it is the responsibility of the tenant to take care of mowing the lawn, removing the garbage, removing snow etc. You can add to or subtract these expenses from the total rent costs. Your rent increase percentage should be determined on these factors.
Mode of payment collection
You can include the provision for payment on the first day of every month through post-dated checks, which can prevent your need for rent collection every month.
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