Lease Rental Disclosures
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If your rental property was constructed prior to 1981, you may be required to provide tenants with an Asbestos Disclosure Form.
Document Last Modified: 2/4/2020
BEWARE: It is common knowledge that asbestos is usually found in building materials such as siding, roofing, the interior ceilings and walls in some aged homes. However, did you know that asbestos can also be found in older ovens, popcorn making machines and even in hairdryers? Be very careful when scouring through flea markets and yard sales; although asbestos has been banned from inclusion since 1979, there are still some oldies out there.
Many older buildings contain some building materials with asbestos is almost always a given. In some jurisdictions, landlords are required to disclose whether asbestos may be present in the property’s building materials. Even if it’s not required in your area, distributing this disclosure to tenants is a good standard practice that may even help shield you from future legal action.
The presence itself of Asbestos is not harmful unless tampered with, which may result in the fibers being released. This may be done by scraping, sanding or other remodeling techniques that may cause the fibers to be released.
The United States Environmental Protection Agency does not require the material to be removed from the premises, but in homes where asbestos is known to be located or in states where this may be a requirement; the landlord must provide this form to the tenant at the signing of a lease and the lease renewal. This form warns the tenant that the property may contain asbestos. It includes directions for hanging any type of wall ornament and what procedures the tenant must follow in case a water leak or any type of malfunction that may cause the exposure of Asbestos.
Please Note: This form is designed to be printed and filled out by hand.
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The best CYA tool in the business is the disclosure form. Never lease a home without knowing what you need to disclose to cover your… assets. Having the proper disclosures can keep you out of court and in compliance with your local and state laws.
When creating a lease agreement, you will have an opportunity in Step 7 of the lease wizard to select (or deselect) disclosures to include in your lease package. Pay particular attention to state-specific disclosures, and (as we try to say as often as possible) lead paint disclosures if your property was built before 1978!
Use a disclosure form:
- To warn of any potentially harmful materials or substances in the home (asbestos, mold, lead paint)
- To convey strict policies affecting a tenant’s decision to move in
- To meet local and jurisdictional requirements
- To capture and relay information regarding tenant security deposits
- To detail condition of property at onset of rental
- For tenant insurance waivers
- To provide pertinent historical information on properties whenever required
When in doubt, it is better to over-disclose than under-disclose, as it is often legally-required. Be sure the tenants sign the disclosures, and keep signed copies alongside the signed lease agreement in case you need to pronounce your perfect compliance in a future courtroom.