There are dozens of good reasons to work with TCS Management (maybe even hundreds), and one of the benefits you can expect and enjoy as a partner of ours is that you get a comprehensive, legally compliant lease agreement. Your Atlanta rental property needs to be protected from damage. Your own profitability and earnings potential need to be protected from rent that isn’t paid.
The lease agreement sets forth all of the expectations and responsibilities for the tenancy, holding both the owner and the tenant accountable to its requirements.
You don’t want to download any lease template you find on the internet. And, you don’t want to try to write your own lease agreement, especially if you’ve never crafted one before.
Count on us. We protect your investment with our Atlanta lease agreements, which are not only legally compliant but also legally enforceable.
Every lease agreement anyone has ever signed has the basics: contact information for each party, description of the property, a list of appliances that are included, etc. Those are easy elements to incorporate. We go a lot further and get pretty detailed when necessary. Here are some of the things that give our leases such strength.
Rent Collection Policy for Atlanta Rental Homes
Collecting rent is one of the most basic functions of any landlord or property manager, and it seems like it should be pretty straightforward. You tell the tenant how much rent is, they pay it, and the same thing happens month after month. It’s not always that simple, however. If your tenant claims not to know how to pay, when to pay, or where to pay – you’ll be stuck with a list of excuses instead of your monthly rent. That’s why we make the policy very clear in our lease agreement.
- When to pay. Typically, rent is due on the first of the month. This is what most tenants expect, and unless there’s a reason to collect it on a different day, our lease agreements have the due date as the first.
- Grace periods. The lease reflects any grace period that’s allowed, and establishes exactly when rent is considered late.
- How to pay. Most tenants prefer to pay online or electronically whenever possible. We make online payments possible through a tenant portal system that’s provided by the software we use. For tenants who prefer to pay with a check, we make that option available, too.
- Consequences for late or missing rent. The late fees and additional consequences, up to and including eviction, are included in the lease so tenants know what to expect.
The rent collection policy is something we discuss with tenants before they move in. This keeps everyone on the same page and our collection process consistent and efficient.
Maintenance Protocols and Procedures
Our Atlanta lease agreements always include language that explains who is responsible for what when it comes to maintenance, upkeep, and cleaning. This will eliminate any confusion with your tenants about what they’re expected to be doing and what they can expect you to take care of.
We are also careful to include specifics around the process for reporting maintenance.
Emergencies require a phone call as soon as it is safe – always. We want to get right to work on responding to unexpected catastrophes and mitigating additional damage. With routine repairs, however, our lease instructs tenants to make those requests in writing. There are a few good reasons for this:
- We are able to document when the issue was reported and how quickly we responded.
- Tenants are more comfortable making the request when it’s online, so there’s less risk of deferred or unreported maintenance.
- We’re more prepared to take care of the problem. When the request is made through their portals, tenants can be as descriptive as they’d like and even include photos or videos.
A good lease also indicates how maintenance is paid for. Generally, property owners are responsible, but if a resident or their guest causes a window to break or a door to come off its hinges, those damages will be billed to the tenant.
Clear Rules and Regulations
A strong and compliant lease is clear about the rules and regulations. This includes:
- Pet policy. Even if you allow pets, restrictions are stated clearly. Our pet policy includes pet fees, pet rent, and all the expectations for how the animal will behave at the property and around neighbors.
- Smoking policy. We believe a no-smoking policy is the best way to protect the condition and integrity of your home, and we’re clear about that rule.
- Prohibition against criminal activity. You don’t want any illegal activities taking place in your property and if they are discovered, they should be grounds for immediate termination of the lease and eviction.
- Circumstances under which a landlord can enter the property. Your tenants have a right to privacy and the enjoyment of their home. When we enter for an annual preventative maintenance inspection, we make sure to provide plenty of notice. We also have a section of the lease that addresses this inspection, so there are no surprises. Our lease also permits us to enter if there’s an emergency and the tenant is not home.
- Policy on rental increases. We are clear in the lease agreement how often we can raise the rent and how much notice we will provide before the new rent goes into effect.
When we’re creating lease agreements for the Atlanta rental properties we manage, these are always the things we are careful to include. There may be legal addenda we need to include as well, depending on the age of your property and the materials that were used in its construction.
Working with an attorney or a professional Atlanta property manager is essential when you’re drawing up a lease agreement. Let’s talk about the unique and specific needs of your investment property. Contact us at TCS Management.
TCS Management is a full service property management company headquartered in Philadelphia, Pennsylvania, also serving Cherry Hill, NJ, Wilmington, Delaware, Nashville, Tennessee and the Atlanta metro area. We focus on single-family and multifamily residential property management of homes, condos, townhomes, and apartment buildings.
