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Tenant renewal.....contract help!



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Hey all, my tenant wants to extend our lease for another year.  Initially, I had a realtor find and produce the original contract.  What is customary for a contract renewal??  Should a get a realtor again or could I just get a form from say Office Depot or something?

Jul 11, 2012 - 09:06 pm
AznGunner
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I would use a realtor just so you don't have to do the background and credit checks yourself.  And it will make it easier if you have to evict them if you are going thru a realtor.



Jul 11, 2012 - 09:14 pm
Fallon
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So they just want to extend their contract they already have? Why not just use the same contract they already have and have them sign it. Usually after a year it's a month to month basis

Jul 11, 2012 - 09:17 pm
mpjp0907
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You can find legally binding contracts containing the same language as the realtors use online. I use these to renew when it is the same tenant.

Jul 11, 2012 - 09:17 pm
tatertot58
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You can find legally binding contracts containing the same language as the realtors use online. I use these to renew when it is the same tenant.



I go the way @tatertot58 said. Why pay a realtor one months rent for not doing much.


Jul 11, 2012 - 09:22 pm
mpjp0907
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Legal zoom.com maybe

Jul 11, 2012 - 09:24 pm
Longstocking
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Heck I may even have a contract laying around here somewhere

Jul 11, 2012 - 09:25 pm
mpjp0907
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My landlord used a form TAR-2005.  Looks like it came from ziplogic.com.  It says Extension of Residental Lease on the top.
 
I only have a scanned copy of it but it may only be for realtors use.  My landlord also has a real estate company.

Jul 11, 2012 - 09:34 pm
dotti573
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I would take the opportunity to inspect your property before re-signing.  

Jul 11, 2012 - 10:47 pm
hardzep
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Just use the same contract with new dates! 

Jul 11, 2012 - 10:53 pm
Kristinatx9
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My landlord used a form TAR-2005.  Looks like it came from ziplogic.com.  It says Extension of Residental Lease on the top.


@dotti573: Firstly I'm a licensed real estate agent. It's unfortunately illegal for a non-Realtor to use a TAR-form -- though these forms should be promulgated by the state, the conservatives have for some awkward reason delegated to TAR the power to create the de facto forms. Probably, a result of the powerful Realtor lobby. Anyway, as the owner you're welcome to write down whatever sort of lease or month-to-month agreement you'd like. If your tenant is already seasoned then you may not even be concerned all that much with them defaulting on their contract -- you may not require the contractual protections of the TAR forms. If you're interested, I'd be happy to render this service for $75.00 + my brokerage fees for the transaction -- which unfortunately I can't get for you until tomorrow (I think he's still going to have to pay E&O on the lease extension).

One thing you need to be careful of is that the TAR revised the Residential Lease for on June 1, 2010. If you're extending a lease signed prior to June 1, 2010 you'll want the addendum too.

Feel free to give me a call tomorrow 281.901.0011.

Jul 11, 2012 - 11:23 pm
EvanCarroll
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Now that I have Evans number, I think ill submit it to every church in town and on the internet

Jul 12, 2012 - 06:53 am
mm4731
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I also have a copy of the lease used to renew.  It is the same language of the TAR lease without all of their extras on it.  I would  be more than happy to provide it for FREE.  I obtained it on- line and also in a landlords book from Branes and Noble.

Jul 12, 2012 - 07:33 am
tatertot58
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" though these forms should be promulgated by the state, the conservatives have for some awkward reason delegated to TAR the power to create the de facto forms."

My god, they let the realtors and their organization create realty forms?  What's next, let people decide on their own health insurance?

Jul 12, 2012 - 11:20 am
fcabanski
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No @fcabanski, the IRS just took that part over  

Jul 12, 2012 - 11:21 am
Fallon
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My god, they let the realtors and their organization create realty forms?  What's next, let people decide on their own health insurance?


@fcabanski: No, we just get to fill in the blanks. However the form with the blanks is created by TAR, not TREC.



Jul 12, 2012 - 11:23 am
EvanCarroll
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