LPA Lease - Landlord Forum thread

LPA Lease by Monica on June 17, 2012 @19:45

Perhaps I should contact LPA about these questions?

I've just purchase the LPA lease and will be a first time LL. My first questions are:

#16 Does the heating services agreement only apply to the fuel/tank. There is no tank here, just the natural gas utility. Is this clause referring to a furnace maintenance agreement?

#45 Abandonment. Why are tenant initials required here? Isn't signing the lease sufficient?

#47 Processing fee of new lease. Do most LLss charge this? Do most LLs redo the credit check? I think it would depend on payment history.

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Re: LPA Lease by NY-LL on June 17, 2012 @20:40	[ Reply ]

There are ten (10) LPA Lease Agreements with variant clauses. The LPA Lease - Rental Agreement references: #16 Heating and Cooling Systems for a whole house rental or apartment rental with individual heating and cooling systems (if a shared system landlord would be responsible), #45 Abandonment requires the tenants’ initials to confirm that attention and emphasis was provided to the specific clause to avoid any claims of oversight (as with most agreements for additional reinforcement), and #49 (not #47) Option to Re-New Lease has a processing fee which is blank (to be determined based upon a agreement and understanding) can be a zero ($0) processing fee or a $50 or $100 processing, such as in the case of review of the current credit report or change in the lease agreement, such as a new tenant occupant addition which requires a thorough screening. All discretionary.

Re: LPA Lease

Re: LPA Lease by Douglas (KS) on June 17, 2012 @21:00	[ Reply ]

Processing fee for new lease depends on your area. In our area, units are low cost and it does not really support this.

Re: LPA Lease by Thomas (NY) on June 17, 2012 @21:31	[ Reply ]

The lease is written to give the landlord the best choice of options for your protection when entering into an agreement. To clear up your confusion and answer your questions: #16 Does the heating services agreement only apply to the fuel/tank. There is no tank here, just the natural gas utility. Is this clause referring to a furnace maintenance agreement? No. It depends on the service contract you get from your heating company. We wrote the lease to afford the landlord as much protection as possible, so we recommend contracts that cover the entire heating system. As you may know, Murphy's Law makes heating systems fail on the coldest day of the year! #45 Abandonment. Why are tenant initials required here? Isn't signing the lease sufficient? We recommend that you haave tenants initial it to emphasize the clause. You caould also take away the initial lines if you want. #47 Processing fee of new lease. Many management companies charge an admistration fee for the processing of renewals and new leases. Many of us waive it too. It is up to you.