I'm in the process of purchasing a few rental homes and would like to hear the landlord members thoughts concerning the lease and application form they prefer and why. I'm a broker and have greater exposure than non-licensed landlords when dealing with tenants and lean towards using the TAR forms for several reasons:
1. They are continually updated to comply with housing and property code statutes. In addition, as weaknesses or potential problem areas are spotted that either fail to address or inadequately cover problems they are updated.
2. They are designed to be fair and this becomes important should legal action become necessary.
3. I'm lazy and zip forms makes completion and archival easy.
4. I'm comfortable knowing that TAR froms have been vetted by several attorneys that specialize in real estate law. Hopefully this prevents from using a lease form that doesn't address the unforseen or 1 in a miliom senario.
The TAR lease is designed to be palatable to both the listing and leasing agent and their client as well as universal. My preference would be a lease form that did all of the above but was more focused on protecting my interest, eliminated as many negotiating points (blanks requiring completion) as possible, and was Texas specific.
TIA,
Howard Cox
