EPISODE 015: Part 1 of 2 on Important Points of Leasing & Management Contracts
Categories: Strategy & Tips
Description & Show Notes: In this episode, we start with an overview of the leasing process, and then jump into the details on your Application and Lease. We'll cover a lot of things you should do and not do, things you should include and why they are important. It's a close-up look at how we screen our prospective tenants and automatically collect our rent, but we'll also look at the ways we use specific language and terms in our leases to reduce the risk, uncertainty and confusion in our process and our lease to smooth out bumps in the road before they happen. I'll explain how using specific contract terms like "Joint and Several Liability" can help you avoid problems later by starting with clear expectations from the beginning.
In the Tips and Takeaways section, we'll look at the companies I've been using for tenant screening and rent collection for years and a new alternative out there. We'll also look at how the "Three Most Valuable Word in Real Estate" (not Location, location, location) can be tied into our discussion of leasing contracts.
Milestones in the Tenant Life-Cycle, as relates to contracts: (bold sections are covered in this episode)