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Reply to "Renting Primary Residence-what to put in lease"
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[quote=Anonymous][quote=Anonymous]We are about to rent out our primary home for two years while we're overseas. What are some tips for the lease? I have a realtor and a property manager (they are affiliated with each other) and the lease they provided me is boilerplate. FWIW this is a 2M home in VA. Keeping a security deposit of one month's rent would hardly cover maintenance and repairs if the tenants destroy our home. Any advice from other landlords would be appreciated![/quote] You can collect two months in VA. The big issue though is what is considered ordinary wear and tear. For example the useful life of carpeting is five years. So if it’s already three years old, you may not be able to withhold money if they ruin carpet. I agree with the others that you should set services in place. Renters often don’t know how to maintain a house so even if you require it in the contract it might not be done properly or even at all. [/quote]
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