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Making a Condominium Lease
When you've got a condo to rent out and you've found the right tenant, create a Condominium Lease to safeguard your interests. Signing this document can make it easier for everyone to avoid possible disputes down the road. You can click on "Make document" to check out the sample Condo Rental Agreement and preview the questions that you'll need to answer to generate your document.
As with any legal contract, Condominium Leases are not legally binding until everyone has signed. This customized document from Rocket Lawyer can offer much more protection than a blank Condominium Lease template that you might come across elsewhere. As a Rocket Lawyer member, you will have the option to access Document Defense® for your contract, which allows a lawyer to help you demand payment or otherwise enforce your legal rights.
Even if you are providing the rental informally, creating a record of any commitments to those renting from you is key. Signing a Condo Lease could be good for you because of the following list of benefits:
Without a Condo Rental Agreement, you and the tenant might have to manage one or more of these consequences: unexpected changes, not being paid in a timely manner, and little to no recourse when a dispute arises.
The details needed for the Condominium Lease are:
As you probably expect, Condominium Leases also contain guidelines around late fees, short- or long-term guests, pets, smoking and/or drug use, and early lease termination. This Condominium Lease also addresses issues unique to the rental of your condo, such as HOA fees and other community rules. During the process of building your document, you also can include details related to maintenance procedures, insurance requirements, and furnishings. Using the document tool, you have the ability to add more personalization, if needed.
The great news is you won't need to start from scratch when putting your contract in writing. When using Rocket Lawyer, you can create Condominium Leases very easily. Your agreement will be assembled step by step as you answer simple questions to provide information. Typically, for this level of customization, you could ultimately end up paying a traditional law firm a few hundred dollars, if not more, in fees.
Condominium Leases each come with their own checklist of tips on what to do next. You also can engage with the document in one or all of these ways: making edits, downloading it as a PDF document or Word file, printing it out, and getting digital signatures via RocketSign®. Finally, as a best practice, you should give a copy of the fully signed contract to the tenant. You might also like to browse our larger repository of real estate legal documents.
The law often evolves over time. If you've got any doubts about property rental laws, you can always ask a lawyer. Seeking out an attorney to review your Condo Rental Agreement could take a lot of time if you attempt to do it alone. An alternate approach could be via the Rocket Lawyer On Call® network. Premium members are able to request a document review from an experienced attorney or ask other questions. As a property owner or manager, you can be confident that Rocket Lawyer is here by your side.