LPA lease - Landlord Forum thread

LPA lease by Anonymous on April 25, 2012 @12:41

I am going to be needing a new lease. The reason I will need to purchase a new lease, yet again, is because the lease I have been using has to be paid for every time I use it.

I am happy with the lease I have been using. It is professional and covers my asset well. However I have seen tid bits of the LPA lease and am awful tempted to purchase it, once, and then it would be long to me. There must be some saying that sums up why change something that is not broken. : )

I imagine the LPA lease was written by LL's who have been through the ringer and taught many lessons by their tenants and that attorneys have been over it to be certain it is legal. I also understand that the lease from LPA is downloadable to Word which would mean I can edit and change it if necessary.

Sell me on the fact that I should switch from something I know works to something better!

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Re: LPA lease by Greg on April 25, 2012 @13:00	[ Reply ]

Before I purchased my first SFH I found a good lawyer (who happens to be a landlord, Realtor, and literally wrote a the Arizona Landlords Deskbook). The lease cost me around $500 but was the best money I could have invested. A good lease is worth it. There is a good chance at some time your going to end up in court. If you have a good lease your chances of winning a court case are always better. If you have a bad lease..... There is no reason that you should be paying a "per use" charge for a lease. If you do purchase a lease make sure you get a copy of the lease in microsoft word format (or whatever format you use) so that it's easy to modify. While I know the LPA has a good lease I just wanted to make sure I covered all my bases and that's why I went with a lawyer who was very familiar with leases in my area. Best of luck to you, Greg in Phoenix

Re: LPA lease by Nicole (PA) on April 25, 2012 @13:10	[ Reply ]

not comenting on the LPA lease because I also have a "local lease". However, I don't understand your post. How do you have to pay every time? Can't you just retype the lease you like?

Re: LPA lease

LPA lease is great... by Julie in PA on April 25, 2012 @14:41	[ Reply ]

I bought the LPA lease (and all the forms package) and I'm VERY happy with them. They come in word processor file format and you can change them to your heart's content. They seem to cover just about everything. I have a gravel parking lot and one of my T's insists that he got a flat tire from a screw in the lot. So I put an additional clause in the LPA lease that states, "T parks in the parking lot at their own risk. LL is not responsible for any damage caused to T's car including, but not limited to, collision, flat tires and theft."

Re: LPA lease by Anonymous on April 25, 2012 @14:49	[ Reply ]

If I purchase the one year membership then I will be able to download all forms along with the lease. Even though I do not get a CD am I able to back this up on a flash drive so I have them forever? I only have one property. So while I want a professional lease like the LPA provides keeping expenses down is important since the revenue is not multiplyed by many properties.

Re: LPA lease by Jack Klein (NY) on April 25, 2012 @16:31	[ Reply ]

Some of us spent $500. or more on attorney drawn leases, so I think the $12 LPA lease is a no-brainer. My real estate attorney threw away his lease in favor of the LPA's. (Too bad I didn't get my legal consult money back for the previous leases he made me!) The LPA membership was the best thing I ever did as a landlord! Worth every single cent. Good luck!

Re: LPA lease by P-Bone in WNY (NY) on April 26, 2012 @07:31	[ Reply ]

I've had the LPA Lease reviewed by prior law firm personnel (prior employer) and by my law professor in college. Other than a few small adjustments (some of which have subsequently been included in newer versions of the LPA Lease) were provided by these professionals, but little else was changed. They were all impressed with the overall coverage of the document in regards to property ownership and rentals.