Course Content
Excel Property Management – Backup
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Composing a lease Contract

The Lease Contract must be filled out with precision as if anything is incorrect on the lease contract, it can be used against us in court.

What a Lease must have:

  1. Everyone above the age of 18 who will be living in the apartment must be listed as a resident on the lease.
    (Must have done an application and had a background and credit check done) 

Keep in mind, by doing this you protect the apartment complex. There are many advantages these include:

  • This reduces the risk of having dangerous criminals living on the property.
  • The risk of a tenant using the apartment complex as a passageway or motel by living for only a couple of months and leaving high depts. Remember to inform every tenant that no unauthorized occupants can live in the apartment.

2. The Correct apartment address. 

  • On the first page of the lease contract, you will have to put two addresses. One is the office address and the second is the physical apartment address. Always Remember some apartment complexes have more than one address.

3. Everyone that is listed on the lease contract (above the age of 18) must sign the lease contract. 

  • For a contract to be binding then all parties must sign the contract.

4. Dates On the Lease Contract  

  • The most important dates on a lease contract are the Start Date and the End Date.

Start Date: 

  • This should be the exact date the tenant is getting the keys. 

End Date: 

  • The end date should be 12 months after the start date but on the last day of that month.
    This date is extremely important and must be calculated correctly, whether it be a handmade contract or an electronic contract.