Rental Forms Question
Hi! I am a first time landlord putting together materials for our tenants. I just wanted to confirm what exactly we need to give them. We are a 2 family house and these tenants were living here when we purchased the house. We really like them but I do want to have formal documents in…
Hi! I am a first time landlord putting together materials for our tenants. I just wanted to confirm what exactly we need to give them. We are a 2 family house and these tenants were living here when we purchased the house. We really like them but I do want to have formal documents in place. Here’s what I have:
lease, basic rider, window guard rider, NYC lead paint notice, Federal lead paint notice, late payment rider. Is there anything I am missing? Am I overdoing it? Just fyi, I am using the Real Estate Board of NY (rebny.com) as my guide on this.
OP here. Thanks for all the advice! I had a hunch that more was better but wanted to make sure. Also, i will check out the books asap.
As a landlord in tenant-friendly NYC, you can never overdo it. To save yourself some trouble, combine all of your riders into one and put in the lease.
Contrary to Ysabelle, I wouldn’t ask the tenants anything. Since they were there when you got there, you only have to respect the lease they PRESENTLY have (btw, you should’ve gotten a copy of that at closing along with their security deposit). Once that lease is up for renewal or expires, you can do what you want. The riders can be changed at any time with advance notice. As the landlord, you set the tone. Give them the paperwork you want them to sign and be done with it.
Start fresh and good luck!
Sandy
Get the Nolo book and treat it like gospel:
http://www.amazon.com/New-York-Landlords-Law-Book/dp/0873379276/ref=sr_1_1?ie=UTF8&s=books&qid=1199894283&sr=8-1
Why not go to the Central Library at Grand Army Plaza and look at books like, Residential landlord-tenant law in New York or Landlording?
For a two family you do not legally need the window guard or the lead paint rider. I have a two family and just put in the window guards. I put the late rate fee in the basic lease.
Ask the tenants,maybe they remember.
They might have copies of all that stuff
.For 2 family houses, there is no set rule for leases.