As a professional, I would advise owners to add the following clauses to a standard lease agreement to protect themselves and their property:
1. Security deposit: Require a security deposit from the tenant, which can be used to cover any damages caused by the tenant or unpaid rent. The amount should be specified in the lease agreement, and the terms of the deposit return should also be clearly outlined.
2. Late fees: State the consequences of late rent payments and the fees incurred for late payments. This will encourage on-time rent payments and discourage the tenant from defaulting on their rent obligations.
3. Maintenance and repairs: Clarify the tenant’s responsibilities for maintenance and repairs. The tenant should be responsible for any damages they cause to the property, and the lease agreement should outline the process for reporting repairs needed due to normal wear and tear.
4. Pets: If the property owner allows pets, they should clearly outline the rules and restrictions for owning pets. This may include breed restrictions, pet deposits, and any additional cleaning fees required.
5. Subletting: Specify whether or not the tenant is allowed to sublet the property, and if so, outline the process and requirements for doing so. This will help prevent any unauthorized subletting and ensure that the property owner is aware of all occupants of their property.
6. Termination of lease: Clearly outline the terms for ending the lease agreement early, including the fees and penalties associated with doing so. This will help protect the property owner’s interests and ensure that they are fairly compensated for any losses incurred due to early termination.
By incorporating these clauses into a standard lease agreement, property owners can protect themselves and their property from potential risks and ensure a positive leasing experience for both themselves and their tenants.