Did you know that landlords can be penalized with a fine of up to or more than 16,000$ for violating laws associated with non disclosure of certain core legal information with tenants? Very sadly, this often happens to new landlords that are unaware of these clauses that are often inconspicuous in general landlord and tenant lease agreement forms. If you are a prospective landlord, here are a few of those important legal disclosures that you need to take very seriously while creating your legal rental document…
Federal Disclosure Requirements – This is a very important requirement that is applicable to all rental residential spaces that were constructed before 1978. Here, it is imperative that the landlords warn the tenants under EPA about possible health hazards of lead paint and how to keep self and family safe from the same. The clause usually appears in free printable lease agreement forms for states under which the condition is applicable.
Disclosure about any non refundable fees – If you have included certain non refundable fees as credit check, pet deposits etc. it should be mentioned very clearly in your agreement form. Detailed information on non refundable deposits can help avoid legal charges later.
Previous usage of property especially under unusual cases – In case if your property was used by previous tenants for unlawful or unusual socially inappropriate activities, you need to mention it very clearly in your landlord and tenant lease agreement form. This is extremely applicable if your property was used for methamphetamine manufacturing and associated cases.
Presence of possible environmental hazards – If your property is located in an area that has very high levels of radon emissions or has presence of asbestos (that is applicable for properties constructed before 1981), it has to be mentioned in very clear details to your tenants before they take occupation of the premises.
Besides the mentioned, a number of other disclosures like presence of sex offenders in the locality, disclosures about previous damage to property caused by natural calamities like floods / hurricanes etc should also be mentioned. You may also download commercial lease agreement here- https://forms.legal/