Archive for May 18th, 2009:
10 Tips on Writing a Residential Lease Agreement
Any smart landlord will protect their legal interests with a residential lease agreement or rental agreement. Here are 10 tips that will help you properly write an airtight residential lease agreement. A properly written lease agreement will guarantee your rights to protect your property.
Know Your State/City’s Laws Your state and possibly city may very well have different property management laws. Some state’s, for example, require your lease agreement to have a warning for lead based paint for older buildings. This will also help you figure out what you can and cannot include in your lease agreement.
Make Your Lease Agreement as Clear as Possible Loose language, confusing terms, slang, short-hand, and a poorly written agreement can be misinterpreted into an interpretation that may not be in your favor.
Include the Condition of the Rental Unit If the rental property is in good condition with no problems or damages then include that, if there are problems or damage then you need to go into specifics.
State Your Pet Policy Include whether or not you allow pet lovers to keep a pet on the rental property. If there are exceptions or restrictions list those too, you can get into for example the size of the animal you will allow, or the type of animals you allow or don’t allow.
State Your Right of Entry Be careful though, each states requires a specific amount of time you must wait after you notify the resident(s) that you want to enter their residence.
Do You Require a Security Deposit? If you do require a security deposit you must specifically state what is considered to be damage to the dwelling on the lease agreement. It is vital you clearly state the security deposit policy if you want to properly protect your legal right to keep that deposit.
Precisely State the Amount of Rent Include when the rent is due and when it is considered late; this will protect you against legal recourse if the tenant is continually late. Do what you can to prevent misunderstandings.
Repairs Covered or Not Covered It is the landlords responsibility to provide repairs for any fixtures, heating and cooling equipment, and included appliances.
Activities you Restrict If there is something you just absolutely cannot tolerate from your tenants then include that on your lease agreement. A code of conduct will give you the legal right to manage your property accordingly.
If the Lease Agreement is Breached What Will Happen? State what will happen if the tenant violates the lease agreement. If you want the right to terminate the lease if the tenant breaches the agreement made then you need to state that.
Why Choose Delaware as Your Corporate Home?
What state Incorporates more than a half-million business entities, including more than half of the Fortune 500 companies? New York? California? Illinois? No. No. No. That state is Delaware. With a population smaller than 88% of all states, this business-friendly state attracts more corporations than any of the major cities. Businesses choose Delaware simply because of their flexible corporate laws, highly respected Court of Chancery, a business-friendly State Government, and a customer service oriented Staff of the Delaware Division of Corporations.
Among the many business-friendly laws, Delaware does not require corporations to operate in the state, only to maintain a registered agent, who may be an individual resident, or an existing domestic corporation. Additionally, incorporations typically take 24 hours to process, however there are services that allow same day, and 2 hour filing. There is no corporate income tax for corporations incorporated in Delaware, but not transacting business in the state. Further, the cost to incorporate is one of the lowest in the country, and one person can hold all officer positions of the corporation. Officer names are not required to be listed in the articles of incorporation. Shares of stock owned by persons outside of Delaware are not subject to Delaware taxes.
Delaware maintains a separate corporate court system, called the Delaware Court of Chancery, that does not use juries, but only uses judges appointed for their expertise in corporate law. The Delaware Court of Chancery is a 210-year-old business court that has written most of the modern U.S. corporation case law. It is widely recognized as the nation’s most distinguished agency for dispute resolution involving corporate litigation. The state legislature takes seriously its role in keeping the corporation statute, and other business laws current. Their unique expertise in, and exposure to issues of business law are supreme. Currently the Court of Chancery has made docket information, and pleadings available over the Internet for civil actions filed in the Court.
Delaware’s State Government is business-friendly and accessible. The Division of Corporation is in the forefront of efficiency, and their professional staff provides prompt, friendly services to clients, attorneys, registered agents and others. The office of the Secretary of State operates more like a business rather than a government bureaucracy with its leading edge technology, and customer-service oriented staff.
Delaware may make sense for large corporations, however it may not be worth the effort for small, privately held corporation who do business in their home state. Although Delaware does not tax out of state businesses, taxes must be paid in the state the business is operating. While incorporating fees are lowest in Delaware, appointing a corporate agent to receive official notices in Delaware may negate any realized costs savings. All factors considered, Delaware is a premiere legal home to companies all around the world.
About the AuthorJay B Stockman is a contributing editor for Online Small Business Consulting Visit http://small-business-usa.com/ for more information.
Article source: http://www.contentdragon.com/content/business/why-choose-delaware-as-your-corporate-home/
