When residents have been approved for your property and they’re ready to move in, you’ll need to create and execute a lease agreement. The lease is a contract that states what the responsibilities are for the landlord and the residents, and what the expectations are for the lease term.
Who should sign the lease agreement that’s in place for your Pleasanton rental property?
Let’s make sure you’re in compliance.
Signatures on Pleasanton Lease Agreements
Every legal adult who is 18 years of age and older and planning to live in your rental property must sign the lease agreement. These are the same residents who should have been fully screened by you.
If there are any emancipated minors, they’ll need to sign as well.
You can get into trouble if only one person signs the lease agreement but there are two or three adults living in the property. Whether your residents are 18 years of age or 100 years of age, all adults must sign the lease in order for it to be fully compliant and legally enforceable.
Let’s say you have residents with a 17-year-old moving into your property. Make sure you note the birth date, and get the signature of that resident as soon as they turn 18. It does not matter who the financially responsible party is; you want all of the residents in your rental property to be listed on the lease agreement and to sign it. Otherwise, you could find yourself running into trouble if you try to evict a tenant.
Lease Guarantors Must Sign the Lease
A lease guarantor is sometimes required when a resident does not completely qualify on their own for a home you’re renting out. The guarantor is responsible for the rent and any other charges incurred during the lease term if the tenant cannot pay. The guarantor does not typically live at the property. They don’t have all the benefits that come with the lease agreement.
You’ll still want to get their signature on the lease agreement. We recommend that you don’t accept a guarantor. It’s better to ensure the residents who are living in your property qualify for the home on their own. However, if you do have one, make sure you have them sign the lease agreement or a separate agreement that’s specific to them and their financial responsibility.
Here’s another recommendation: if you do accept a guarantor, always ask for the maximum security deposit. This is a situation where you have a riskier tenant and you want to protect yourself as much as you can.
Lease Agreements in Pleasanton Must Include All Residents
Collect copies of identification when the lease agreement is signed.
You want to know who exactly is living in your property, and you want to make sure that new, unapproved people are not moved into the home.
Be specific about who is included in the lease. Use standard language, which you can find from a Pleasanton property manager or an organization like the California Association of Realtors. Identify anyone bound by the lease (these are the adults who must sign it), and also list any occupants.
We can help you be sure your lease is legally compliant and set up to protect you and your interests. Please contact us at Advantage Property Management Services.