CHECKLIST FOR LEASE OPTIONS AND LEASES

Checklist for lease options and leases

When a person wants to enter into a lease agreement there are some factors that need to be taken into account. These are known as the checklist for lease options and leases. These also include the work for equity program.

As per the checklist, the address of the property is mentioned. During the application process the following factors need to be considered: The details of the credit application need to be furnished and the application receipt for the deposit of the property incase it is necessary in case of certified funds. The details of the order credit report need to be mentioned as well as the verification of the job as well as the credit and rental history is to be undertaken.

Once the application has been approved then the following are the factors to be considered : The lease agreement, the rules and regulations which are set by the landlord, the option agreement incase that is necessary, the work for equity program incase that is necessary, the inspection report as well as the inventory report this is necessary if the building was built before 1978, then the lead based paint addendum is to be checked along with the balance of move-in money incase of certified funds. One needs to check on the smoke detectors as well as the security devices and the re-key locks. The utilities need to be turned off and the pool as well as lawn maintenance needs to be cancelled. The signs and the pickup lockbox need to be removed as well.

Checklist For Lease-Options And Leases

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Sample Template Preview

CHECKLIST FOR LEASE OPTIONS AND LEASES
Including “Work for Equity” Program

Property Address:____________________________________________________

Application Process:

Credit application
Application Receipt Deposit for property if necessary (certified funds)
Order Credit report
Verify job, rental history, credit
Once Application Approved:

Lease Agreement
Landlord Rules and Regulations
Option Agreement if necessary
Work for Equity Program if necessary
Inventory and Inspection Report, only if lease
Lead Based Paint Addendum if built before 1978
Balance of Move-In Money (Certified Funds only)
Make sure Smoke Detectors and Security Devices are in place
Re-Key Locks
Turn off Utilities
Cancel Lawn and/or Pool Maintenance
Remove Signs and pick up Lockbox
Set up Rent as Due and Payable each month
If Agent involved, write Commission Check and sign Broker Agreement
Terminate all advertising
Welcome letter to Tenant
Make sure all documentation is in the Tenant folder and put in file cabinet