using a board of realtors lease agreement

[serrow 0]

I got my hands on our Honolulu BoR lease agreement and was wondering how many of you use a canned contract like this. It would in no way confuse any seller or buyer that it was a true lease (with option) but I'm afraid it may lack some of the clauses or innovation needed to do a good CA. I'd love to post it, but they limit who can download the electronic version. would anyone care to take a look? already seems like my city (Honolulu) requires landlords to do repairs so that one is out. please PM me if you'd like to see this thing.

[Jonathan RexfordFL 8]

Are you a realtor? If not can you use the agreement? Personally I am a realtor and I would not use our board of realtor contract.

[vballdarin 1]

You have to look at the source of the contracts. If the contracts were written buy the Board of Realtors attorneys...you better believe that they are written in the best interest of the Realtors/RE Agents. Some Lease agreements used by our State of SC Realtors specifically state that it's not intended for use when there is an option.

 

You can't go wrong with MC's contracts and agreements. (Especially for CoopAssign's) But you may want to run whatever you use past an attorney so that they protect YOUR best interests and they are state specific.

[<Steve> 82]

This year I had the Naked Investor agreements take a harsh review from my state's Attorney Genreal and my state's Real Estate Commission (not by my choosing) and they held up. Order the manual, get the agreements and know your local landlording laws. There are no guarentees, but the manual is a small price to pay that will save you thousands down the road.

 

Also, the manual explains how to limit you repair liability by sharing the expense with the seller. . .your landlord.

[serrow 0]

Are you a realtor? If not can you use the agreement? Personally I am a realtor and I would not use our board of realtor contract.

 

this agreement is given to any landlord for a buck a piece.

[serrow 0]

This year I had the Naked Investor agreements take a harsh review from my state's Attorney Genreal and my state's Real Estate Commission (not by my choosing) and they held up. Order the manual, get the agreements and know your local landlording laws. There are no guarentees, but the manual is a small price to pay that will save you thousands down the road.

 

Also, the manual explains how to limit you repair liability by sharing the expense with the seller. . .your landlord.

 

 

yes, i like the naked contracts but I've found that it's not that great when it comes to maintenance and repairs. I'll enclose the expert from our tenant landlord code. Looks like in my state, Hawaii, landlords are required to do maintenance. so t he MC contracts for me need some mods

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By law, the landlord is obligated to make repairs due to normal wear and tear or maintenance required as time goes by. In all repair cases, the landlord has a good faith requirement to start the repairs as soon as possible. However, Hawaii law also states that the tenant is responsible to repair any problem caused by his or her misuse.

 

If emergency repairs are needed to maintain sanitary and habitable conditions, including the repair of major appliances and necessary facilities, the landlord must start repairs within three business days from the time of notification. If, for reasons beyond the landlord's control, repairs cannot begin within three business days, the landlord must inform the tenant of the reasons for the delay and give an expected date on which repairs will begin.

 

If non-emergency repairs are needed, the tenant should notify the landlord in writing. The landlord should start repairs within twelve business days after receiving the written notice. If, for reasons beyond the landlord's control, the repairs cannot begin within twelve business days, the landlord should notify the tenant of the reasons for the delay and give an expected date on which repairs will begin.

 

If the landlord cannot uphold the second date of starting emergency and non-emergency repairs, the tenant can do the repairs him or herself or hire a competent worker and, in either case deduct up to $500 from the next month's rent for the cost of repairs. The tenant must provide the landlord with copies of all repair receipts.

 

When the tenant exercises his or her right to put the landlord on notice to make a repair, the tenant is also required to list every defective condition that the tenant knows or should know of. If the tenant fails to list a defective condition, the tenant must wait six months to use the notification procedures again. However, this six-month limitation does not affect conditions that arise after the notice was given to the landlord.

 

If the landlord has been cited with a violation by the Building or Health Department, the landlord must start repairs within five business days after receiving the written citation. If, for reasons beyond the landlord's control, the repairs cannot be started within five business days, the landlord should notify the tenant of the reasons for the delay and give an expected date on which repairs will begin.

 

If the landlord cannot uphold the second date, the tenant can perform the repairs and deduct up to $500 from the next month's rent. Otherwise, the tenant can get two estimates of companies who can correct the building or health code violation, and submit the estimates to the landlord. The landlord has the option to substitute workers and materials. If the landlord does not make a substitution of workers or materials, the tenant must hire the worker with the lower estimate and deduct up to $500 or one month's rent, from the amounts owed to the landlord, whichever is greater. The tenant must provide copies of repair receipts to the landlord.

[MichaelC 160]

serrow, you are correct in that no one contract will be a perfect fit for all states and all deals. It's always a good idea to take the agreements to a knowledgeable real estate attorney for review. He/she can then make the necessary revisions to be in compliance with state and local laws. The alternate is to have that attorney draw up some custom agreements specificially for you. But I suspect the cost will be prohibitive.

[Jonathan RexfordFL 8]

If its a property that I own I would never use an association approved contract.