May 29, 2023


Mad about real estate

Kinds of Forms

1. Lease Termination Notices – These notices are used whether you the lease is commercial or residential and in any reason of lease termination. Some lease termination forms provide longer periods of notice compared to other lease termination notices because this is determined based on the lease period. If your lease payment schedule is weekly then the seven day notice will be given but if your payment is monthly, then the thirty day notice for termination will be given.

2. Landlord Closing Statement – This is used to calculate the amount of money that a tenant and landlord owes to each other before the lease expiration day. The deposits and credits made by the tenant are calculated by using this form, and the total calculation of it will be deducted when the tenant has unpaid rent and has damaged the rental unit. The total amount with the deduction of the remaining deposit money must be given to the tenant.

3. Lease Application Form –  This includes requests for an information about the landlord’s potential tenants and this is used whether it’s a commercial or residential property. By requesting information like employment, credit report information and financial information of many of your potential tenants, is a tool for the landlord to choose among the them by comparing their information and choose which one is the best.

4. Lease Subordination Form – This is an essential agreement by contract that lets consecutive mortgages on the same property to have more or higher claim than the customary mortgage. This is an agreement that is written between the lien holders on property that can change the mortgages priority.

5. Lease Purchase Agreement – This is a contract that indicates that the landlord and the tenant has agreed in writing that the tenant will have an option to buy the property at the end of the lease period. Mostly, the deposits and payments made during the lease are commonly applied to the purchase price of the property. By this agreement, the tenant will have the right to choose whether to buy the property or not.

6. Landlord Tenant Inventory Form – The use of this form is to archive all furnitures, fixtures and appliances. This kind of form should be considered by the landlord to protect his belongings that’s in his/her property from damages caused by the tenant. The landlord and the tenant should have an agreement that the items that are listed are in good condition and agree that the tenant will be the one responsible when the items are destroyed caused by tenant.