Over the years in
property management across Southwest Washington State, we’ve seen our share of
DIY landlords who get into trouble because their paperwork isn’t correct. It’s vital to understand the importance of proper paperwork and documentation, and all of this starts with your lease agreement.
Washington State Lease Agreements
It’s very easy to make a mistake if you try to create your own lease. Have it drawn up by an attorney or a local property management company. This is for your own protection.
Once you have the lease, you also need additional documents that are required to go with that lease agreement.
Walk-Through Inspection Report
When you’re ready to sign the lease with your tenants, provide a move-in walk-through condition report that reflects the inspection of your
rental property. This is legally required if you’re collecting a security deposit from your tenants. The law says that if you take that deposit, you need to provide a move-in checklist that’s signed by both the landlord and the tenant.
If you don’t complete a walk-through, and yet you collect a security deposit, there will likely be a problem later on. You are not going to be able to
charge for any damage. So, we cannot stress this enough - it’s very important to do a move-in walk-through. And then, it’s important to document it.
Your incoming tenant does not have to be present for the walk-through; you can do the inspection on your own, and then once it’s done, hand the checklist over to the tenant, and give them three days (no longer than that) to add anything that they want on the move-in condition sheet. Get the signature prior to them moving in because you’ll find it’s much harder to get that signature after the tenant moves in.
Documenting Safety Disclosures in Your Lease Agreement
Once you have taken care of the move-in inspection and you have the lease ready for signing, make sure you have the required mold documentation. If your investment property was constructed prior to 1978, you’ll also need a lead-based paint disclosure form.
You’ll also need smoke and carbon monoxide forms to be filled out and provided to your tenants. It’s very important to have this documentation. If you don’t have the proper paperwork, you could find yourself grappling with legal problems.
Oral Agreements vs. Written Leases
