The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: stupendous_stash on April 19, 2015, 09:13:41 AM
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Hi
What service do you use for creating / signing lease with tenants? I have come across an online option with NTN where tenant can sign electronically - however it seems to be clubbed together with tenant screening etc services and I don't really want to use that.
Other option is ezlandlordforms.com - has anyone used it ?
I am specifically concerned about legality of these documents when things do go wrong. However, getting a lawyer involved with every lease signing seems silly. I am in New Jersey and apparently it has more complex laws and requirements.
Any opinions / recommendations are very much appreciated.
Thank you!
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Not exactly answering your question.. but about 90% of the legal documents I have signed in the past year have been through www.docusign.com - including dealing with a lot of big banks and otherwise large companies, so I assume they are 100% legit. However it looks like they cost $120 a year, so maybe not worth it unless you need to use it 20 or 30 times a year.
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Any opinions / recommendations are very much appreciated.
Thank you!
Have you considered stopping buy a property management firm and asking for a copy they use?
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I use the lease from thelpa.com, modified to fit my own needs. As far as lease signing online or other digital methods, I wouldn't. After they've been accepted and holding deposit is received, I send a copy of the lease for them to view to address questions before the lease signing day. On signing day, a walk through with property condition form is signed(this will be the basis for deposit deductions), the lease is gone over and they sign and receive a copy, they get the keys and the rental is turned over.
I print the forms in multi-part carbon copy at Fedex Kinkos and I can usually find a coupon or two that makes the cost about $3-$6 per lease.
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When I was in SF, I used the standard SFAA lease. I've also used forms from the CAA. Property mgmt companies recommended I use the SFAA lease.
There must be something similar for NJ. Would strongly recommend using one from a local organization as it will be specific to your city/state and taking into account the local/state laws. Don't just grab a lease off the internet to save $10.
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I would suggest checking to see if your state has a standard lease. For example, if you type Minnesota Standard Lease into google you'll find a 10 page lease from the MN Bar Association that has been approved for use in local courts.
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I have a standard lease I compiled from various 'standard' leases in our area. Plus added a few clauses from others I have seen. I have sample forms on my blog, feel free to down load it.