Saturday, October 19, 2013

Real Estate Forms Property Owners Need

If you are taking advantage of the rental market by owning your own rental property then you are going to need the correct real estate forms to get the job done. The real estate forms you need if you are renting out a property can be onerous to say the least but if you stick to the following outline you will be on your way to sunny days. When you rent to people before they officially take over the property you need to perform what is called a walk through. This process is where you and the tenant look at the condition of the property and make a note of it on special real estate forms called a walk through.

These forms are standard in most places and help protect your investment and at the same time protect the renter from any issues that arise when they move out and wish to claim their damage deposit. A damage deposit if you are unaware is an amount of money that depending on your area is either the equivalent to one month or half month rent, These funds are held to cover any damages done to the property that is not considered normal wear and tear. If you are renting to people and wish to be proactive you can bring a video camera to document the unit with the tenant. Be sure to have the tenant sign on your real estate forms to confirm they are aware of the condition of the property and agree to the terms.

Another type of real estate forms you will need to use is one to notify the tenant you will need to enter the property for a host of reasons. Typically you must provide 24 hours written notice, it must not be on a weekend or holiday or past a certain hour of day. The reasons you would need to enter the unit can be for repair work or inspection for insurance purposes, another time you will need to enter the property is to perform an inspection for fire safety.

Real estate forms you may need to use but is by no means a pleasant experience is requesting the tenant to vacate the properties for a serious breach of the leasing agreement, this can include wild parties, damaging the property, engaging in illegal activities i.e. growing and selling drugs. The rules for this type of real estate form vary by the area you live but any serious violation or if you have reasonable grounds to suspect your property is in danger you are within your rights to request the tenant quit, this form is called notice to quit and leave your property. You must have valid grounds to use these real estate forms otherwise you could find yourself in serious legal trouble.

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