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Thread: 3 Rules of Rental Agreements

  1. #1
    Amy_ISS is offline Community Manager
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    Default 3 Rules of Rental Agreements

    Without getting all "legal," what are your top three rules when it comes to your rental agreement? What's most important? Any hang-ups you've come across over the years?
    Amy Campbell
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    Inside Self-Storage
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  2. #2
    MamaDuke's Avatar
    MamaDuke is offline Moderator
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    Default Re: 3 Rules of Rental Agreements

    1. It must be signed.
    2. Customer must be present - with ID - to sign the contract.
    3. Leave nothing blank. If they don't have an alternate, they must write "NONE" and initial next to it. If they don't have an employer, same.
    MamaDuke

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  3. #3
    geraldine1051 is offline Senior Member
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    Default Re: 3 Rules of Rental Agreements

    1. The rental agreement must be READ in its entirety.
    2. same as #1.
    3. same as #1.

    Hangups have come from tenants not reading the agreement. Here's an example: A new tenant (an attorney!) clearly had not read her rental agreement as her first month's payment was late... even though I had made a courtesy call to remind her.

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    MisterJim444 is offline Senior Member
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    Default Re: 3 Rules of Rental Agreements

    1) The unit is rented to only ONE person.
    2) The unit is rented to only ONE person.
    3) The unit is rented to only ONE person.

    MisterJim444
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    Lisa T's Avatar
    Lisa T is offline Senior Member
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    Default Re: 3 Rules of Rental Agreements

    Quote Originally Posted by MisterJim444 View Post
    1) The unit is rented to only ONE person.
    2) The unit is rented to only ONE person.
    3) The unit is rented to only ONE person.

    MisterJim444
    Amen!!!!

  6. #6
    TheDuke is offline Member
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    Default Re: 3 Rules of Rental Agreements

    Rule #1 - Use an ironclad rental agreement drafted by an attorney that knows the issues relevant to self storage.

    Rule #2 - Make sure that every customer signs it.

    Rule #3 - Don't be afraid to have more than one tenant on your lease. The more tenants you have on the hook, the more likely you will be paid.

  7. #7
    Storman's Avatar
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    Default Re: 3 Rules of Rental Agreements

    Quote Originally Posted by TheDuke View Post
    Rule #3 - Don't be afraid to have more than one tenant on your lease. The more tenants you have on the hook, the more likely you will be paid.
    That goes against everything I have ever been told by attorneys in regard to leases. 100% opposite. I don't even rent to husbands AND wives, it's one or the other. Why expose yourself unnecessarily to relationship issues between parties? I'm with Mr. Jim, one tenant and only one tenant, NO EXCEPTIONS. If that one tenant wants to give his gate code and key to another person or 100 other people, that's his business, my responsibility is to one person. Period. If that person doesn't live up to the contract, I can proceed without issue. I think multiple parties on your lease is a recipe for disaster.

    BTW, I'd like the name of the attorney you use that has developed an ironclad rental agreement, I've never seen one of those....
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  8. #8
    TheDuke is offline Member
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    Default Re: 3 Rules of Rental Agreements

    Attorney's know and understand that contracts between parties often have multiple lessee's. Having two lessee's on a self storage rental agreement is not complicated nor difficult to administer. There are many situations where contracting parties would want two lessees on a rental agreement and it is foolish to deny them this ability. It simply is not that complicated and I don't know why storage managers have such an aversion to the practice.

    The industry has had enough time to develop an iron clad contract. I have an iron clad contract and have seen many others. The problem in self storage litigation is not the language of the rental agreement, but rather the practices of the managers. As a matter of fact, I have never seen an appellate case that focused on the contract language of a self storage rental agreement (which does not mean one does not exist) but rather each case entails unusual fact patterns often violating the contract provisions that the tenant agreed to in the facilities rental agreement, i.e., facilities not notifying the tenant at the last known address, etc.

    I agree, if one does not have a good working knowledge of the intricacies of the law, they should probably stay with the one tenant, no exceptions policy.

 

 
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