The lease agreement is the primary thing that holds the authority for a landlord or tenant for any property management practice.
If you are in the beginning stage of starting a property management company, you already have a lease that writes valuable clauses by legal experts specialized in the field of landlord/tenant law. We at the property management training hq train our staff to understand and implement the valuable aspects of this document. You will always find making amendment’s to a lease which is written completely on legal aspect so that it covers situation which encounters during course of property management practice.
It is very important to review leases annually to see if modifications are needed. Always keep a running document to capture lease changes so that you can run all of the changes after each annual lease review.
Here are 5 clauses that the property management training hq guide you to consider.
1. Maintenance of Premises by Resident
Any maintenance caused by tenant is solely his responsibility. For liabilities like air filter, water filter, light bulbs etc make tenant liable for it. Inform tenant that they cannot make any alteration to the property. Tenant is supposed to inform landlord promptly of any damage or maintenance required. Tenant not allowed making repairs at landlord expenses.

2. Smoking not permissible
Smoking in premises like garage or any other covered area is not allowed. Tenant is liable for any damage in property due to smoking. One should be aware of the fact that smoking cannot annoy any neighbor or be a spoiler for your surroundings.

3. Landlord’s Access
Landlord has the right to access the property. A tenant cannot abate rent if landlord enters property. Landlord has the authorization to install lockbox for showing convenience. The inspection rescheduling fee is a huge tool. In the event that you have a mass review day arranged in which you're planning to investigate, say, 5 properties in the exact day in a similar neighborhood, it is truly irritating when you have one inhabitant call approaching in the event that you could plan for one more day. They generally have an explanation and it sets you in a place of having to either get angry to authorize your entitlement to assess as told, or withdraw and burden yourself by returning to a similar piece of town you were at that point in for your mass investigations.
All things considered, you can basically say, "I'd be glad to reschedule. Anyway please realize that per your rent, we need to charge a [whatever amount] review rescheduling expense for the extra expense caused to return to investigate only your home." You'll see that 9 out of multiple times, they will down and let you do the assessment as booked to maintain a strategic distance from the charge.
This additionally applies if the occupant has a bolted room that they don't need you to investigate on the grounds that "it's simply a wreck in there". You react with, "Sure, yet we need to return to examine it and there will be an extra charge for each your rent."
The goal isn't to gather whatever number of these charges as could reasonably be expected. It's to utilize it as an instrument to monetarily boost the occupant to submit to the rent.

4. Re- Letting Charge Upon Lease Break
Calls for inhabitant to pay a re-giving expense access a sum you decide to take care of the expenses related with promoting, appearing, and following the entirety of the means to discover a substitution occupant.
Re-letting charge is expected regardless of whether they empty in line with the property manager due to a default on the occupant's part. Model: Tenant is pulverizing the house and property manager requests that they move out. On the off chance that they oblige, they actually owe the re-letting expense since the early move-out was because of their default.
Re-letting expense is likewise survey for an ousting.
Not a rent retraction or buyout expense. It just is to take care of expenses of re-letting the property. Inhabitant is answerable for all expenses until another occupant moves in.

5. Abandonment Clause

It is a default under the rent if the inhabitant doesn't possess property on customary premise
Property is viewed as deserted 10 days after death of sole occupant. Occupant forgoes any rights to any close to home property left after opening or surrender and landowner may discard it. Occupant repays landowner and their delegates against cases or expenses related with removal of individual property deeded relinquished.

property management trainingg Headquarters hopes that these clauses will gain your interest and can be implemented into your lease to make your life as property manager better. As the legal aspects changes new scenario will come into picture and there will be changes in your lease so that it will not be obsolete.