Lease Assignment
If you are a property renter, you really need to use a good assignment of lease form to protect your legal rights. Fortunately, it is easy to download lease assignment forms off of the internet, but this is not really enough. The lease assignment forms that you find will generally be alright – they will cover all of the standard bases legally – but before you sign a contract, no matter what it is, you should contact a lawyer. This is doubly true if you are renting property. There is just no reason to not consult the legal guidelines of your area before finalizing your lease assignment. And you may learn something that is just indispensable.
I have been a renter for many years, so I should know of all people. As a landlord, I have had to be aware of all of my legal rights and obligations, and make sure that my lease assignment is airtight, and that is no joke. This is especially true in the area I live. Berkeley, California is a very renter friendly city, so as a landlord it is very hard to evict tenants, or even call them to account for violating the terms of their lease assignment. If I did not have one of the best assignments of lease in the business, I would be quite worried about protecting my investment, and that is no joke.
There are other things more important than even a proper lease assignment, although that is a good place to start. One of these is doing a good and thorough background check on every tenant who proposes to live in your rental property. A background check is even better than a lease assignment for protecting you, because it will allow you to see if someone has proven to be trustworthy, and therefore a good renter in the past. No matter how good your lease assignment, it is still better to make sure to have a good renter to begin with. It is just not worth the hassle of having to evict someone otherwise, and with legal costs and delays of months, it can really take the fun out of what is otherwise a lucrative business which requires little work. A smart landlord can be a lazy landlord, and will always be a rich landlord, so before you even look at lease assignments, make sure that you are renting to responsible folks.
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