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.
Thanks, Wm. Very good information.
Do you find that when a tenant moves in on a month-to-month lease that they tend to stay a year or so, anyway, since moving is such a hassle?