Residential Tenancy Agreement - Use a Standard Agreement or Pay a Lawyer to Prepare one?

[Nir]

Hi All,

I received a Residential Tenancy Agreement from a landlord self help centre. I wanted to ask what the experienced investors think about using this standard agreement adding a few comments on fire code, NSF charges etc. VS. paying a lawyer $1000 (or $2000) to prepare the agreement for me(?)

I am tempted to use the standard agreement and save the lawyer fees but wanted to ask what you think about the approach and if you can add the points you think are important to include in the agreement(?)

THANKS & REGARDS,
Neil

 

[brentdavies]

Hi,

The laws for tenants law is provincial, so it depends on where your rentals are.

In Alberta, the local Landlord and Tenant Boards have preprinted lease agreements that work for most folks. Cost is about $1-5.

We have our own lease agreements, which include items such as carpet cleaning, pets, and tenant insurance.

We litigate only less than 1% of all leases, so you must weight the cost of the legal advice, vs the standard agreement.

For Alberta, look at the Sevice Alberta Website. Edmonton Apartment Association or the Calgary Association also has lease agreements.

REIN critcial forms has a lease agreement on it also.

Good luck,

Brent

 

[JeffSmith]

I use the tenant lease agreement form from the REIN critical forms section. It is by far the best available. The details and specifics are very clear and can be customized. The additional rent terms are worth the REIN membership fees alone.

 

[clwenner]

I would be willing to snd you my lease. It`s very detailed - has everything from the REIN lease in it & more