10 Top Tips for Renting Documents

By: admin

This list is by no means exhaustive but hopefully will point you in the right direction when you need to produce rental documents (Visit Hive). From details of tenants to property inventories, these are all things that you will be happy you listed in your rental documents.

  • Tenants names: Get the names and details of all of the tenants that stay at your property. It is not enough to just have one name to represent a group of people. Try to get as many details as you can. 
  • How long will they stay: It is very important to get an idea of how long the tenants plan to keep the property for. If you know what their future plans are, maybe it will help you later in the term. If you know in advance they are leaving in the future, you can make plans ahead of time.
  • Deposits: Be upfront with all deposits and bills. Make sure everyone knows what the deposit covers. The whole point of a deposit is security, so make sure that there are no open ends that may create an issue later.
  • Repairs: Certain repairs will fall under your responsibility. Ascertain if the tenants are happy to carry out minor repairs themselves, so you will both know exactly what should happen in the event there are repairs needed.
  • Inventory: Make proper and complete property inventories. You need to have a list of everything that is in the property when the tenants move in. This will help clear up things when the lease has run its term.
  • Tenant rights: Make sure the tenants know where the line is drawn. They have the right to privacy, but not if there is any illegal activity. Be clear that illegal activities are not acceptable and will be dealt with accordingly.
  • Rental rate: Make sure all parties are clear on how much the rent is, and if this will be changed any time in the future. If you plan to increase the rent incrementally, make sure to include this in the documents.
  • Notice of moving out: It is a good idea to include a section on termination of the lease. If the tenant wants to move out, adequate notice should be given first. In the same way, you can exercise the same right, and give the same duration of notice.
  • Secure the premises: Having good property inventories and agreements is of no use if the building is not secure. Make sure to secure it well, and let the tenant know what you expect from them in this regard.
  • Be reasonable: Try to form some sort of agreement for how to settle disputes. Ideally, we want to be able to sort out problems amicably, without the need for outside interference. Try to be clear and concise, and make sure both parties realize that the terms in the agreement will benefit both parties

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