Announcement

Collapse
No announcement yet.

Updating Rental Agreements for existing tenants

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Updating Rental Agreements for existing tenants

    Thanks to changes in State Laws, excellent advice from fellow operators on this Forum, and continually updating my business practices, I seem to be updating my Rental Agreement regularly.
    So my question concerns existing tenants who have signed outdated Agreements. Are they automatically subject to the new terms, do I send them a new Rental Agreement whenever an update occurs, and do they need to sign any updates?
    This could lead to a lot of work updating 1000 tenants, even when using E-sign.
    How do you all handle updating Rental Agreements?

  • #2
    What does your rental agreement say that you need to do to update it?

    Here is a section I added to my rental agreement, so I didn't have to get every tenant to sign a new rental agreement every time I wanted to make a change.

    10. CHANGE IN TERMS. Lessor may amend the terms of this Agreement by providing no less than thirty (30) days prior written notice to Tenant of proposed changes. If Tenant fails to reject the proposed changes in writing, the new terms shall become effective upon the next monthly renewal term and incorporated herein. Lessor reserves the right to terminate this Agreement in the event Tenant rejects the new terms.

    If you don't have a section similar to that, you will likely be required to have all existing tenants sign a new rental agreement. But then you can add that in and make your life easier for future years.

    Comment


    • #3
      I think that if you add what Randy said above in your current newest lease...you would then create a letter- a statement and then send that out to all existing tenants stating any new rule and send that out via email or snail mail with no email address.
      Don't put off until tomorrow, what you can do today.

      Comment


      • #4
        Originally posted by RandyL View Post
        What does your rental agreement say that you need to do to update it?

        Here is a section I added to my rental agreement, so I didn't have to get every tenant to sign a new rental agreement every time I wanted to make a change.

        10. CHANGE IN TERMS. Lessor may amend the terms of this Agreement by providing no less than thirty (30) days prior written notice to Tenant of proposed changes. If Tenant fails to reject the proposed changes in writing, the new terms shall become effective upon the next monthly renewal term and incorporated herein. Lessor reserves the right to terminate this Agreement in the event Tenant rejects the new terms.

        If you don't have a section similar to that, you will likely be required to have all existing tenants sign a new rental agreement. But then you can add that in and make your life easier for future years.
        See, another day, another update to the lease But, seriously, thanks. I'll figure out how to incorporate that.

        Comment


        • #5
          Wyoming

          20. CHANGE OF TERMS: All terms of this agreement, including monthly lease, conditions of occupancy and other fees, are subject to change upon a 60 days’ prior written notice to OCCUPANT. If this agreement is changed, OCCUPANT may terminate this agreement on the effective date of change by giving OWNER 30 days’ prior written notice to terminate. If OCCUPANT does not give such notice, the change shall become effective
          " When I was a kid my parents moved a lot, but I always found them "

          Comment


          • #6
            We just notify our current tenants of the specific changes in the contract and let them know that if they are still storing with us after a certain date (our contract says 30, but we usually notify them 45-60 days before) they will be agreeing to the new terms.

            Some people will try to fight it, especially if you're increasing or adding fees, but a new signature isn't required. Like most short term or auto-renew contracts, its up to the customer to end the lease if they do not agree to a new cost or new rules especially if you have it stated in your contract like RandyL and Hilltop_Bob

            Comment


            • #7
              Agree with the others about adding that clause to your lease. After that, any changes, you could just email them all an addendum and advise they don't need to sign it, but just keep for their records.

              Comment

              Latest Topics

              Collapse

              Working...
              X