A strong lease is the basis of a property manager’s relationship with a tenant. It lays all the groundwork for rules.
There are probably 1,000 small points that, taken together, contribute to a good, strong Oklahoma lease. Obviously, I can’t cover all those points right here, but there are some really important ones that any property manager worth his weight will include.
In this article, I review the most important points to getting a strong, pro-landlord lease that will stand up in court…specifically for the Oklahoma City metro area. Disclosure: I’m a property manager, not an attorney, and I’m not offering legal advice here. If you are looking for legal advice, contact an attorney.
First of all, start out with a boiler plate (one that has already been prepared). Just be sure to start with the right boiler plate. I googled “Oklahoma residential lease”, and found a free lease agreement that looked like a good, basic agreement.
Don’t pay an attorney to create one for you…there is no need to spend big bucks for an attorney to create one from scratch when you can get a good one that’s already been prepared.
However, you might pay an attorney to review your boiler plate. One good reason to have an attorney review the document is to make certain your lease complies with the Oklahoma Landlord-Tenant Act. You can obtain a copy of that law by googling “Oklahoma Landlord Tenant Act”.
For example, you can’t use a per diem late fee (i.e., late fee based on a per day charge). The Oklahoma supreme court has ruled that it’s not legal to charge a per diem late fee.
If you use these simple guidelines, you can cover your bases in terms of the basic lease agreement.
Of course, it’s better to have a time-tested lease such as the one my company, OKC Home Realty Services, LLC has tested and tested over the years. When you’ve managed properties in the Oklahoma City metro area since 1996, you learn a trick or two.