A good lease agreement is essential to the effective management of investment property and it helps to avoid disputes and disagreements during the course of the tenancy.
A lease agreement should cover:
- The length of the tenancy
- The rent and how it is paid
- The deposit payable
- Notice periods
- What bills the tenant is responsible for
- Who is responsible for grass cutting / garden maintenance
- The number of occupants allowed
- Are pets allowed?
- Any restrictions on the use of the property
- Special conditions e.g. the deposit cannot be used as the last month’s rent
It is important to ensure that any lease agreement used complies with the Residential Tenancies Act.