Pennsylvania Lease Agreement: What Is It?
How do you, a new Pennsylvania landlord, draw up a lease agreement? There are a few basic tenets you’ll need to be sure to include in any lease agreement. Furthermore, Pennsylvania landlords are required to disclose certain things at the time of lease. Below is an overview of what you’ll need to keep in mind when drawing up your agreement.
Have your basic ducks in a row
. It’s easy to forget general yet important details when drafting a legal document. While it’s key to have state laws and specific requirements in mind, don’t forget the more generic stuff. Make sure all occupants above eighteen years of age are listed, be sure the address of the leased property, your own legal name and information about the rental company is listed, and outline all terms of the lease, including length, terms of rent, and rules regarding its breaking by each party.
Lay down the law in detail
. Don’t want your tenants throwing rowdy parties? Want to be sure those offwhite walls don’t turn electric blue? Be sure your lease agreement states outright the ways in which tenants must respect their surroundings and neighbors.
Pennsylvania has specific rules regarding security deposits
. If your security deposit is over $100, you must deposit it in a state or federally run banking institution, and the lease agreement should disclose to the tenant its amount and the name of the institution in which it is placed.
