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The Implementation Guide for COLORADO RESIDENTIAL LEASE AGREEMENT 1 GRANT OF LEASE Form

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Comprehend How to Fulfill the COLORADO RESIDENTIAL LEASE AGREEMENT 1 GRANT OF LEASE Form

want to make sure that your rental lease.agreement is rock-solid and watch this.video to learn five key lease clauses.that you must include in your next.rental lease for the best landlord tips.and tricks stay tuned to our channel.subscribe and hit that bell to be.notified every time there's a new video.each and every Wednesday so when was the.last time you reviewed or updated your.rental lease agreement.hopefully it was within the last year or.two having a really comprehensive lease.is so important and it helps avoid.problems down the road because you've.spelled out everything as clearly as.possible what I want to talk to you.about today are five clauses that we.feel are really critical to make sure.that you include so that you protect.yourself as the landlord hi there my.name is sue Ricci I'm an entrepreneur.and I'm the co-founder and Broker of.Ricci property management.we're residential property management.firm and real estate brokerage in the.Northern Virginia area so let's get to.it.clause number one pets so most of the.our tenants have a pet two thirds of the.population has a pet so it's very likely.that your tenant will come with a pet.and pets are okay as long as you have.clauses in place that protect you an.outline damage etc that the pet might.cause so first of all you want to make.sure that you have a clause in there.that says there are no unauthorized pets.and if there is an unauthorized pack.what happens so first of all you can.impose a fee or a fine if you find that.the tenant has a pet that was not on the.lease that you didn't screen and that.you didn't approve so you can impose a.fine and you can also add on an.inspection fee so you can tell them that.first of all you violated the lease so.there's a penalty and then we have to.come back now and do an extra inspection.because.inspect for any pet damage so if you.want to know more about pets and your.rental property we've done a lot of.videos related to pets and I've shared.the links below so check them out.so clause number 2 is waiver of.subrogation this one might not be as.familiar to most people but basically.what this means is is this and I need to.explain this better with an example.so let's say your tenant gets hurt at.the property let's say they they slip.down the stairs and they get hurt and.there's an insurance claim and then.eventually the tenant says you know what.I'm not gonna go after the owner I want.to stay here I shouldn't you know it was.a mistake but maybe that maybe the.insurance company says that that really.should have been fixed you give your.rights to us basically separating your.rights to make a claim to us and we as.the insurance company will go after the.landlord by having a waiver of.subrogation in your lease that disallows.the tenant from turning over the rights.to the insurance company and that is a.protection for you as an owner so make.sure to look at that read it and really.understand it and think about including.that in your lease so clause number.three is access to the property this.kind of seems like an obvious one but.it's one that you should spell out very.clearly because sometimes tenants don't.want to allow you into the property they.can always they make excuses and oh it's.not a convenient time or I have company.or whatever basically what you want to.do is put in the lease some sort of time.frame at which by which you need to give.notice so for example 24-hour notice is.fairly common you might want to say the.owner has the right to enter the.property given 24 hour notice to the.tenant something like that.so you need to get in there for some.sort of emergency maybe you have to.check on something maybe you want to.update whatever you you definitely want.to get in there for inspections so you.need to make sure that you.clear timeframes and notice timeframes.that you can enter the property if you.have any lease clauses that you've used.with any of your rental properties that.have been particularly helpful we would.love to hear about them so share them.below in the comments.surprised number four this is about.lease renewals when the tenant lease is.coming to an end and it's going to turn.over you really want to try to lock them.into another lease for a specified term.generally a year but what you don't want.to do is have it just sitting out there.kind of on a month-to-month lease.because that leaves you sort of open to.just sort of just the unknown they could.end the lease in the winter and then you.could be at a horrible time of year to.try to re rent it and be dealing with.months of vacancies or having to reduce.the price to much less than the market.just because it happened to be it along.a wrong time of year so on the lease.renewal you want to try to lock that.tenant in to at least another year and.so here a couple ways you can do that.first of all you want to discourage the.month-to-month lease for the reasons.that I just mentioned and one way to do.that is to say ok if the lease ends the.year lease ends and it generally they'll.automatically turn into and roll over to.a month-to-month lease in most leases if.that happens then the rent will increase.by X percentage and you want to make.that percentage a pretty high number.because the higher it is the less likely.the tenants gonna want to pay that and.then we'll be more willing to sign a.one-year lease at a more reasonable.closer to market type of rent.you also want to be careful of how much.you put in there because you can't put a.ridiculous number in there because it.won't it won't fly in court if you ever.have to go to court but also the tenants.just claim just not gonna pay that.so something reasonable to discourage.the month-to-month but also if it ends.up they have to be month-to-month then.you at least are getting a little bit of.a premium on the rent also check out our.videos on the disadvantages of a.month-to-month lease and it put that.link below okay.clause number five this is about jointly.and severally liable that's a mouthful.but it's an important Clause especially.when you have multiple tenants and.multiple unrelated tenants so let's say.you have three roommates basically what.this Clause says is that when one is.liable all are liable so let's say let's.talk about rent use the example of rent.each of them pays a third of the rent.and so let's say two of them pay and one.of them doesn't all of them are still.liable for the entire rent also if.something happens they or say a guest of.theirs violates the lease.all of them are liable so it's not just.he didn't pay or he's laid or this or.that collectively they're one unit they.are jointly and severally liable for any.lease.breaks lease violations whatever so look.into that one read it understand it and.that's a really important one to include.in your in your lease so now you know.five important clauses that you really.should consider when putting together.your lease or adding to your existing.lease but these lease clauses are not.the only thing that are important to.Elyse there are other things such as.disclosures and other addenda that are.important that you might want to.consider adding to your lease if not now.at some point in the future you may need.them when situations change so I've put.together a list of important addenda and.disclosure that you can download the.link is below that you again may want to.include in the future when the situation.arises so if you liked this video let us.know by liking it below and please.subscribe to our Channel and share it.with other landlords that would.appreciate this sort of information.thank you again for watching and see you.in the next video.

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COLORADO RESIDENTIAL LEASE AGREEMENT 1 GRANT OF LEASE Form FAQs

Here are the answers to some common misunderstandings regarding COLORADO RESIDENTIAL LEASE AGREEMENT 1 GRANT OF LEASE Form. Let us know if you have any other doubt.

Need help? Contact support

How do I lower my lease? The original amount was $1,500 but I negotiated down to $800. I rent out a couple of parking spots from a local mall where I wash cars. I think I'm still paying too much. I'm barely on my 3rd month.

You may not like this answer, but you can't. You see, a Lease is a legal Agreement. A contract. A pledge. A promise. Which you signed your name to. You are obligated to honor it, even if you changed your whim and now decided you don't like the decision you made previously. Reverse the question: Would you be ok with it if the Landlord decided after just 3 months to double your Rent, just because he felt like he could? Of course not. Now what you should do is simply wait until your Lease is up and either move to a different location (presumably with lower rents) or try to negotiate in good faith f Continue Reading

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