Speaking of units.
Is there a best legal form online for an owner to protect himself when he gets a tenant to sign?
A relative was injured when a tenant left a 2nd house he owns but can’t move in this housing market, so he rented it. He’ll probably have to rent it again, but doesn’t want to go through this same thing.
He’ll probably have to replace all carpet, repair a deck, etc. Costs beyond any normal security deposit.
It real depends on the market your in. There are a lot of standard leases at stationary/legal forms stores.
A relative was injured when a tenant left a 2nd house he owns but can’t move in this housing market, so he rented it. He’ll probably have to rent it again, but doesn’t want to go through this same thing.
In the market I'm in the laws are so weighted in favor of tenants I don't take deposits. What I do is run credit reports. If a tenant has good to excellent credit I rent to them. If their credit is fair to poor the answer is no. Also, I don't offer 1 yr leases. I only rent on a month to month lease. My experience has been if a tenant wants to break the lease they can find a way and if they are a problem tenant an annual lease makes it hard for me to get rid of them.
I don't know if it's popular in your market, but here we charge a non-refundable move in fee of about a half month's rent.This can off set some of the repair costs. Also, if your relative continues to rent the house, when they do repairs look more at durability and cost rather than style. Tenants will not take care of the property.
Sounds like he needs some kind of insurance.
Just roll the added cost into the rent.
This is what manufacturers do when more taxes are placed on their business: the final consumer is the one who pays them.
Great sleight of hand to fool taxpayers into thinkiong that THEY aren't the ones whose taxes are being raised...