Section 32 provides all the attachments. Then there’s the signature area. You date and sign it. All parties must sign the lease. If you have three tenants, all three tenants sign.
You don’t want to get into an argument with the judge later saying, “I understand you put three up front, but only two signed it so those are the only two I’m going to allow you to go after.” Don’t do that.
The next page is just a pure information page of where to send rent and those kinds of things. You can include that or you can throw it out.
Walk-Through Sheet
Attachment 2 is what we call a Walk-Through Sheet. This is a very detailed list of every single room in the house with all kinds of things like doors, windows, walls, floors, ceiling, rug, electrical outlets, and things like that. We go through with the tenant and we test all these to make sure they’re in move-in condition.
If something is not in move-in condition – like let’s say an outlet doesn’t work – we would note that on this move-in inspection that the outlet on the right-hand side of the living room doesn’t work.
That’s two things:
1) If it still doesn’t work when the tenant moves out, there’s no dispute about it and they don’t get charged.
2) It gives us a little bit of a maintenance list in terms of what we need to come back and fix.
I highly recommend you do a unit inspection form. As a side note, a lot of people ask me whether we do videos on the move-in. We do not, but you certainly can. There’s nothing wrong with it. My experience is that for the most part judges do not want to see videos. They don’t want to see pictures of ordinary stuff.
Be careful. Even though it sounds good, I’m not sure you’re ever going to be able to take a video camera into a courthouse and have a judge look at it, but you certainly can do videos.
Rules and Regulations
Attachment 3 I think you’ll find very useful. You can modify it to fit your needs. It’s basically rules and regulations. These are the rules and regulations under which the tenant must live in the house.
It lays out very clear terms like no fireworks, no gasoline in the house, no signs on the windows or doors, no damage in the unit, no change of keys, no loud music after 10pm or before 7am. It basically lays out the rules and regulations under which the tenant can live in the house.
If the tenant is a disruptive tenant and does not comply with these rules, you in theory have the right to evict that tenant. This is how you would do it. You would say that they’re violating the rules and regulations.
I invite you to learn more about Property Management and get a free 60 minute audio titled “Learn the 10 Success Secrets of Property Management Every Real Estate Investor Must Know to Maximum Profit and Avoiding Tenant Headaches” by going to http://www.realestatewealthtoday.com/PMS.html.
Mike Lautensack is the owner of Del Val Property Management LLC, a FULL service residential property management company located in Philadelphia, PA.
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