How to Handle Lease Agreements Like a Pro

Strong residential lease agreements are the foundation of every successful rental property. They protect both landlords and tenants by setting clear expectations and reducing the risk of disputes. 

Whether you manage one unit or an entire portfolio, understanding how to draft and maintain leases properly ensures your investment remains secure.

What Goes Into Good Residential Lease Agreements 

A lease is a vital document because it creates a legally binding agreement that defines the duties of landlords and tenants and their shared obligations.

You can better enforce contract terms and simplify maintenance operations and renewal scheduling by establishing clear agreements. This process also helps you comply with landlord-tenant laws, which vary by state and local jurisdiction.

Most property owners don’t realize that rental management contracts include details beyond their typical understanding. 

Following the guidance outlined in Pennsylvania’s landlord-tenant laws can help keep every section compliant and enforceable.

Don’t Forget These Clauses

To protect your property and provide clarity for tenants, your residential lease agreements should definitely have:

• Rent and Payment: Details about payment deadlines, accepted payment methods, and established rules for handling late payments.

• Maintenance: List who is responsible for specific property maintenance tasks, such as lawn care and equipment upkeep.

• Renewal and Termination: Establish timeframes for sending termination alerts, lease extension options, or complete termination methods.

• Security Deposits: List the amount required, along with procedures to decrease deposits and details about when to collect deposits

• Policies for the Property: Include noise, parking, smoking, and pet policies specific to your property.

Be as clear as possible about these details so everyone knows what is expected throughout the lease term.

Common Mistakes Landlords Make

Even experienced landlords can make small errors that can escalate into big issues. This could be using outdated templates, skipping state-required disclosures, or failing to update terms when laws change.

Another frequent problem is inconsistent enforcement, which can create legal risks.  Working with a professional team like Peel & Company’s property management experts ensures your leases are compliant, up-to-date, and consistent across all your units.

Peel & Company Can Manage for You!

Peel & Company specializes in drafting, reviewing, and managing residential and commercial lease agreements throughout Pennsylvania. 

If you're ready to handle your leases like a pro, don’t hesitate to contact us to discuss professional lease management support today!