After over 150,000 pages views and four years of running this site, one of the most common problems I run into are landlords either not using a lease, using an inadequate one with their tenants or simply not being aware of the actual paperwork required to protect themselves.
Now, not having a signed lease is definitely worse, but having an improper lease leaves you open to all sorts of headaches and additional losses and missing some details can completely ruin your landlording experience, never mind what it can do to your finances!
Were you aware that without a proper tenant walk through inspection prior to handing the keys over, you cannot apply the security deposit to any damages? Even if they trash your place?? Having a walk through inspection form is integral to the lease and without it, you could face thousands of dollars in repairs, all out of your pocket and then have to completely refund the tenant their deposit.
Were you aware that without the word fixed term in your lease, your “fixed term” lease may really be a month to month lease? I saw this happen to someone in 2013, they thought they would be able to get rid of a problematic tenant at the end of the “fixed term”, but there incorrectly worded document let the tenant stay on month to month until the tenant wanted to leave.
Were you aware of what words are required to be in your lease to make it valid in Alberta? And if they aren’t you again are stuck in a month to month situation leaving all the control in the tenants hands? It’s one tiny mistake that takes all the control and the potential saving grace of your lease out of your hands.
Unfortunately, many of the FREE leases out there either simply aren’t valid in Alberta, are too generic to be helpful, or are often worded so poorly and so incomplete that it can completely backfire on the landlord. Why do some people trust a lease they found for free when they have a property worth hundreds of thousands of dollars?
Helping Landlords Get It Right
At the very least, landlords need to be protected and at the same time a good lease also protects the tenants. It’s fair, it follows the rules as set out by the Residential Tenancy Act in Alberta and it ensures you and your property are protected.
The lease I use has been modified and adjusted over the last ten years as we’ve learned through experience, what works, what is absolutely required and what doesn’t work in a lease. In the following packages I have everything you need to make sure you get it right from the start and to help you avoid the mistakes many new and inexperienced landlords make.
I’ve broken it down into three separate packages to help ensure it fits everyone’s needs. Some may want the full meal deal complete with some one one on support to walk them through the trials and tribulations of getting started as a landlord.
From the proper forms to advertising for tenants to screening tenants and even some one on one consulting to walk you through being a landlord, I try to cover everything a beginner needs. This comprehensive Landlord in a Box package includes information worth $700 to a landlord (or multiple times more if you don’t know it) for only $299.
Next I have a more Advanced Lease Package for slightly more experienced landlords that includes all of the basic forms plus some additional forms and tips to take you to the next level. These are the forms I use in my business every day to create the best experience for me, my properties and my tenants. This package is only $49.
Finally, some people just want a Basic Lease Package with the basic forms and will ad lib the other information. This package includes my lease, the custom walkthrough inspection report and a basic walk through explaining how to use them for and has a price of only $29.
Don’t make the mistake of trusting your expensive property to complete strangers without having the right forms in place! To help break down what is included with each package, here’s a chart showing you the specifics.
So What Do You Get For Your Hard Earned Money?
So what exactly is included? Well, let’s start with the big package. This is aimed primarily at new landlords who are just getting started, or landlords who have been having all sorts of headaches figuring out the landlord business.
You get everything from the basic package which includes two of the most important pieces, your tenant lease and your walk through checklist. These are the basis for protecting your asset, which is your property and your money. It also includes the basic walk through of how to use the forms.
Next are the pieces that more experienced landlords use and need to make sure they have the right information to make sure they get the tenants they want to have in place, some specific forms covering utilities, pets and emergency numbers, and a walk through explaining how and where to utilize these forms, along with some advanced ideas for landlords.
Finally, as part of the complete kit, you get the extra tools to make advertising for tenants easier, the methodology I use to screen tenants with a bonus checklist to make sure you don’t miss anything, a walk through of the process to make sure you understand it, a short guide to dealing with tenants, what you need to do, what you need to avoid and how to follow up.
I’m throwing in my Beginner’s Guide to Investing in Real Estate that is ideal if you are still looking at purchasing either your first rental property or simply adding to your portfolio.
I’m including my Complete Guide to Evicting Tenants in Alberta using the RTDRS so you are completely prepared if something does go wrong, I’m also including my Guide to 24 hour and 14 day eviction forms to make sure you have the additional forms you need, when you need them.
Finally, I am including an initial hour’s worth of consulting to help you get off on the right track. This hour is your opportunity to ask the questions you need answered and to get professional answers from someone with years of landlording experience.
Then to make sure you’re not left in the cold after the fact, there is two additional 30 minute follow up sessions to help answer those questions that slipped through the cracks. The ones that always pop up after the fact and that you desperately wish you could get answered.
I can safely say this is in total over $700 worth of value and some of the tips and information contained have helped save myself and other landlords thousands of dollars (some of the tips I have learned by costing myself hundreds of dollars!). This package is still be completed, so to pre-order, click on the following link,
What’s In The Advanced Lease Forms Package?
This package includes the lease, the rental check in form and the basic walk through package from the basic package. In addition I include some other handy forms and a template I use with my rentals.
First off is our rental application form. This form has spaces for all the information you need to properly screen a tenant and to make sure you don’t miss anything.
We also have a handy Pet Application form to have tenants with pets fill out and a Utility Agreement forms. These help cover your bases and set expectations for tenants with pets and in suited properties it sets the boundaries and rules for the utility payments.
I also include some advanced tips to make sure you are off on the right foot with your new tenants. With forms and information easily worth over $125 to a landlord, this package for only $49 is perfect for a slightly more experienced landlord just needing to firm up their paperwork.
To order this package today, click on the following link,
Advanced Lease Forms Package
Click Here To Order
What About The Basic Lease Forms?
Finally, I have the basic package. This includes the lease we’ve refined over the last decade, the rental checkin report which is essential for your walk through with the tenants and to make sure you don’t lose out if they do damage your property and the basic walk through of how to use these forms.
This is definitely ideal for the more experienced landlord, but will also help someone new gets started. Yes, you can pick up some generic leases for free, some better leases for $15-25 from various resources or you could go to a lawyer and get a customized lease for $200 plus.
Our lease and the extra bonuses that come with it to help make sure you are protected is easily worth $50 and we’ve previously had other landlords pay us $50 just for the lease itself, so at only $29 it’s a steal and should serve you well for years to come.
To order this package now, click on the following link,
Basic Lease Forms Package
Click Here to Order