Landlord Question and Answer Forum

My husband and I rent out his old condo in DC because we weren't able to sell it when we moved out to the burbs. We found a great tenant, and now it's time to resign another year long lease. The last lease agreement, I got from a friend of ours who also rents out his condo in the same building. I'm not sure how to rewrite certain sections for this next year. Could anyone help me? Issue 1: Our last lease started from 11/6/2010, and so our tenant paid a prorated amount for the month of November. Does this mean the new lease should start on 11/1/2011, 11/6/2011, or 12/1/2011? I thought 11/1/2011 made the most sense, but then when I got to the prorated amount clause from last year, I wasn't sure if I should just take it out or not. Husband chimed in that he thinks since our lease was for 1 year, it can't expire until 11/6/2011 and so that's when the new lease should start. The tenant won't pay a prorated rate this year, but then if she leaves before 11/6/2012 that prorated amount should be returned to her?? That doesn't make any sense to me at all. Issue 2: Security Deposit. We don't want to collect another security deposit from our tenant again, we just want to keep the one she gave us from last year. How should I phrase that? The current lease has all this legalese sounding wording, and I'm worried that if I just write something, it will sound very awkward and DIY. The current wording is: "On execution of this Agreement, Tenant deposits with Landlord eighteen hundred fifty Dollars ($1850), receipt of which is acknowledged by Landlord, as security for the faithful performance by Tenant of the terms hereof. The deposited amount shall continue to be the property of Tenant and shall be held in trust by Landlord in accordance with applicable law." Can I say, "On execution of this Agreement, Landlord will maintain the account currently held in trust for the Tenant of the amount eighteen hundred fifty Dollars as security for the faithful performance by Tenant of the terms hereof." Thanks in advance!

If you are renewing a lease that has a start date of 11/6; you want to start your new lease on 11/6 or later. Make sure that if you are increasing rent that you give proper notice to do so. All else would remain. You would not need to collect another security deposit. If you want to make things clearer, you can alway "strike-out" a clause and then add your own text. BUT make sure that it is clear and that your tenant either initials or signs that section along with you acknowledging the change.

Posted by Donna , NC on Thursday, October 13, 2011

Try this ezLandlordforms.com's premium state specific lease. The security deposit section is written in a way to account for renewals PLUS you can customize it to your liking and is packaged with state specific addenda, disclosures and more in a professional lease package.

Posted by Website Moderator , AL on Thursday, October 13, 2011