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Rental agreement advice

1,188 Views | 7 Replies | Last: 3 yr ago by histag10
victory lapper
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AG
Almost done with renovations to our rent house that we bought in late December and I have a guy that is interested in renting it. Any advice on specific items that you would put in the rental agreement?

I'm thinking about:
security deposit amount (what's appropriate?)
dogs (what size/breed are allowed)
lawn maintenance (what are good expectations i can set?)
repairs and maintenance procedures

What other big ones should I be considering? I've read a few articles online but would love to hear from those with experience. Something that's unique about my situation is that the house is directly across the street from me. Not sure if that changes anything but I thought I'd include it.
schwack schwack
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AG
Our security deposit is one months rent - it can't be used as last month either.

Are you using a standard lease or making one up from scratch? There are plenty online. Those will have a section on pets & you can decide if they are allowed or not. If you are, I'd strongly consider an additional pet deposit (per pet) or some people charge "pet rent" an additional amount paid each month & not refundable like a deposit. Also there are sections on what you provide as far as services go.

Since the house is right across the street you might want to take care of the lawn maintenance since you'll have to look at it. Flip side is you are right there & can prod them to do it.





Jason C.
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Read the TREC form and one of the custom ones to get an idea of the issues you'll need to consider. Nothing to prevent you from using either form or a little of both.

https://www.austinresidence.com/pdfs/tar-lease-contract.pdf

https://www.lonestar.edu/departments/tutoring/Texas_Residential_Lease_Agreement.pdf
histag10
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When we rented:

deposit was 1 month rent (not considered as first or last month).

Pet deposit was 75% of 1 month rent, and 50% of it was possibly refundable at moveout with 2 pet maximum. If you have carpet, either no pets or be SUPER picky with tenants. Also, make sure you check your insurance for breed restrictions that you may need to impose. You may also consider a weight limit.

Lawn maintenance was provided by landlord (twice a month a lawn company would come mow)
Diggity
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seems high for a pet deposit, but nice for the landlord if they can get it.
Aggiemike96
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In my leases, I do the following:

- Deposit is equal to one month's rent and cannot be used as 1st or last month's rent. I collect it on the date the lease is signed, as well as first month's rent.
- I do everything I can to avoid pets. Although truth be told, two small kids can do substantially more damage to a house than two small dogs. If you do pets, do all of your due diligence on the pet (contact vet to confirm breed, size, age, etc.). For the pet deposit, I ask for 50% of security deposit and I make it 100% refundable, depending on condition. The reason I make it refundable is that tenants are more likely, in my opinion, to take responsibility for their pet if they know money is coming back to them.
- I ask the tenants to do lawn maintenance. For my first lease, I arranged it myself but had trouble finding a lawn crew to consistently take my money. Two crews just stopped showing up and I was getting complaints from the tenant and notices from the HOA. For the next tenant, I bought an electric mower and trimmer and rent it to the tenant for $20/month. Win win for me! No HOA notices and obviously no complaints from the tenant.
- For repairs and other items, I provide air filters and ask they change them regularly. Other repairs, I just ask they text or email me and I get right on it. The current tenants have been in for 15 months and I have yet to have any repair *knock on wood*.
histag10
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Diggity said:

seems high for a pet deposit, but nice for the landlord if they can get it.


We had 2 dogs over 100 lbs (lab and great dane). Deposit was 800 i think.

Edit to add- we also had to provide vet record of vaccinations and county tags
Diggity
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gotcha...makes more sense in that case. Like having two extra tenants.
histag10
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Diggity said:

gotcha...makes more sense in that case. Like having two extra tenants.


Pretty much. I mean, they were old and not puppies, but they were big.
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