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Eviction Mistake #1: Skipping the Lease
Small landlords often make the mistake of renting on a handshake. This is always a mistake. We’ve yet to see a situation play out where any reasonable observer could say, “Well, thank god there wasn’t a formal lease in place!” Always, always have a professionally written lease agreement that spells out the following elements of the contract in detail:- How much the rent is and when it’s due
- What happens if the rent is not paid by the due date
- Late fees and what happens if they’re not paid
- When the lease expires and what happens at renewal/expiration time
- How much move-out notice is required
- What happens if the tenant moves out before the lease expires