Clearly enunciating the following clauses in a lease will save landlords lots of headaches as it will leave little room for interpretation:
Introduction to Leasing Montreal Property
1. Specify clearly what is included in the rental price.
2. Make sure everyone understands exactly what happens when the lease expires. Even if it is clearly laid out in the lease, it is vital your tenant understands what is expected once the lease concludes.
3. Agree on who is responsible for repairs, maintenance and replacements in the premises. Outline how you will resolve these issues for each high value item as well as those that may be overlooked.
Factors to Consider
1. Always have a copy of your tenants’ current insurance.
2. Landlords typically ask for a deposit to protect themselves if there is rent owing and if the tenant causes damage to the premises. Also, if the tenant doesn’t remove his leasehold improvements, the landlord might pay a contractor to do so and deduct that cost from the tenant’s deposit as well.
3. Make sure you have a renewal clause in your lease. If not, start negotiating your renewal at least 6 months before the lease. Short of respecting the delays in the lease, a landlord and tenant should have enough time to figure out if they want to continue their relationship or mitigate and have enough time to find that other tenant or location.
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