Reviewing a lease isn’t usually any fun, for you or for your new tenants. However, it is extremely important. Not only does it make your expectations clear, a thorough meeting can help protect you and your property from potential legal trouble in the future.
Here are a few tips on how to review the lease with your new tenants.
Provide them with a copy before the meeting
There’s a lot to review in a lease. If you want to ensure that your meeting is successful, don’t spring the lease on your tenants when they walk through the door. Instead, provide them with the lease ahead of time so they have a chance to look it over if they want to.
Even if they don’t choose to read through the lease before the meeting, they will at least appreciate the fact that you were considerate enough to provide them with the document ahead of time.
Discuss each policy on the lease agreement
Whether your new tenants decide to read through the entire lease or not, you should go through and discuss each policy one at a time. Although this can be time consuming, it can definitely prevent frustrations later on down the road. Your tenant won’t be able to say they didn’t know about the monthly pet fee if they decide to bring home a cat!
Questions, questions, questions
And of course, leave plenty of time for questions! Ask your tenants if they have questions before and after reviewing the lease. You should also allow questions to come up naturally as you discuss each policy.
If nothing else, reviewing the lease with your new tenants is a great way to get to know them a little better before they move in!