Landlord welcome letter — How to guide

Found a potential tenant who seems like a perfect fit for your rental property? Learn more about why you should verify the employment and income of your rental applicants using an employment and salary verification form.

Wondering whether you should be renting out your property by using a lease agreement or a rental agreement? Read on to learn the crucial differences between these two common types of rental contracts.

A welcome letter goes a long way toward getting off on the right food with a new tenant. Follow these suggestions for creating a memorable letter that contains helpful information for your tenants.

The terms of your rental agreement are important for protecting your rights as a property owner.

There are numerous requirements and laws that all landlords should be familiar with. Here are the basics.

1. Overview Successful property management begins with good documentation, and most landlords will start a leasing arrangement with a rental application. A rental application allows a landlord to organize and evaluate applicants for a piece of property, and to use the information provided to run credit and background checks on those individuals. Collectively, this information can be used to select tenants who will pay rent promptly and care well for the property. A landlord can also shield himself from claims that he selected applicants for improper and discriminatory reasons.

1. Overview Non-disclosure agreements (also called NDAs or confidentiality agreements) have become increasingly important for businesses of all sizes, serving as as the first line of defense in protecting company inventions, trade secrets, and hard work. These agreements are critical not only when confidential information has been wrongly disclosed, but also when such disclosures have not yet occurred.

1. Overview From an accounting perspective, hiring outside managers is cheaper than employing an individual full time. In addition to the obvious expenses of salaries, bonuses, and other compensation, employees can cost a company in more subtle ways, requiring further investments in benefits, payroll taxes, insurance premiums, office space, and equipment. Such additional costs aren’t required for external managers.

1. Overview Well after a contract has been signed, parties may find that a change in events makes it impossible to complete their obligations within the agreed-on time period. Alternatively, an increase in the parties’ needs can move the parties to extend their relationship beyond its original parameters. If the parties agree to the change and sign additional documents, the term of an existing agreement can be extended

1. Overview Before settling on the final terms of an agreement, negotiating parties may choose to provide a written starting point, setting out a first offer and some general terms. This initial written document is called a letter of intent (sometimes also called a memorandum of agreement or a memorandum of understanding). A letter of intent sets out the basic terms of a proposed transaction, including price, asset description, limitations, and closing conditions.

Commercial rental applications are easy to fill out, but lease clauses can be confusing or undesirable. Follow these suggestions to better prepare for renting a commercial space.

Are you a landlord who just wants a one-page lease or who wants to write your own lease? You can prepare one by following the tips listed here.