The importance of having a lease agreement in place when either acting as a landlord or a tenant, cannot be overly stressed. Having a lease is recommended because it easily and simply writes out the agreed terms so that each party understands their rights and obligations. A proper lease will address and comply with fair housing, specific rental details, and tenant and insurance laws. When working with a Cupertino Property Management Company they should have access to necessary documents, however if you are not working with a company, a lease should spell out the following.
- Lease term: A month-to-month lease vs. an annual lease
- Security deposit, usually one month's rent or more
- Rental due date and late penalties
- Repairs and who's responsible for what
- Routine upkeep and maintenance responsibilities (gardening)
- List of occupants with signatures
- Rules of behavior, including noise levels, neighborly conduct and smoking
- Pet policies and related deposits
- Association rules that the tenant must follow (CC&Rs, etc.)
- Arrangements for showings, at or before the end of the lease term.
- Eviction terms, such as not paying the rent or damaging the property
