Advice For Landlords: Essential Elements of a Strong Lease Agreement

As a Landlord, it is very important that you protect yourself. In New Jersey, the laws generally favor the tenants, so it’s even more critical to make sure you have a good lease in place. Below is a basic guide to a properly written Lease Agreement. This is meant only as a general guideline. Please consult with an attorney if you have any legal questions or need lease documents prepared.

WHAT SHOULD BE INCLUDED IN A LEASE?

• The names of the tenants and landlord
• The property address and description of exactly what is included
• The term of the lease and instructions on how it can be renewed
• The amount of rent and accepted forms of payment
• How utility services are paid
• Any late fees and penalties for nonpayment 
• Security deposit amount and circumstances when it is nonrefundable.
• Tenant rights and responsibilities
• Landlord rights and responsibilities
• Lease termination process and remedy for early termination
• Law governing the contract (the State you live in)

STEPS FOR WRITING A LEASE AGREEMENT

1. Outline the sections of the lease agreement.
2. Identify specific rules and conditions that must be included in the lease.
3. Write each section of the lease with as much specificity as possible.
4. Format for readability: make sure it’s legible and written in plain English.
5. Consult with a lawyer to make sure it is compliant with the law and enforceable.

Crafting a well-structured lease agreement is essential for landlords in New Jersey to safeguard their interests in a tenant-favored legal environment. This guide has outlined key components to include in a lease, emphasizing the importance of specific details, readability, and compliance with the law. However, given the complexities of legal matters, seeking guidance from an attorney is strongly recommended. By consulting with a lawyer, landlords can ensure their lease agreements are both legally sound and effectively protect their rights. Remember, investing time and effort into a thorough and enforceable lease agreement can provide invaluable peace of mind throughout the entire landlord-tenant relationship.