It is not easy to manage a rental property. Everyone who deals with it wants to make money and at the same time avoid putting in too much effort. Of course, you can learn leasing by experience and by making mistakes, but we think it’s better to choose a less painful way. Keep reading to learn more.
LPA is an organization which is aimed at the protection of landlord rights. It stands for Landlord Protection Agency. Since 2000, when it launched its official website, LPA has helped thousands of people who faced misunderstandings with their tenants. A rental agreement (between a landlord and a tenant) is a basic document in the whole leasing process. However, there is also a Lease Addendum, which must be also attached.
Who can use the LPA Lease Addendum?
Both parties, including a landlord and a tenant, must sign the LPA Lease Addendum on the basis of a rental agreement. It must be confirmed by an attorney.
What is the LPA Lease Addendum made for?
It is a standard form that is used for providing additional details about leasing. The key problem of a usual rental agreement is that it does not provide sufficient space for writing all necessary information that a landlord plans to include. The Addendum makes it possible to add new information to the data already available in the agreement. It is recommended to keep this document in a folder together with all other valuable leasing documents.
What is the expiration date of the LPA Lease Addendum?
If the LPA Lease Addendum is connected to a rental agreement, it has the same due date. A landlord and a tenant decide on the period of rent and signify the dates in the agreement. As soon as both the agreement and LPA Lease Addendum expire, a landlord and a tenant sign a new document.
What other forms or copies have to be attached to Lease Addendum?
Of course, it is necessary to provide a valid rental agreement which is signed by both landlord and tenant. It is a basic document. Apart from that, a landlord must confirm the ownership of the property (the dwelling that he is going to let out on lease), providing a relevant document with a copy. This copy must have a notary certification.
What can a landlord include in the LPA Lease Addendum?
First of all, the LPA Lease Addendum must contain the dates from the rental agreement (beginning and ending of the rent) and the names of landlord and tenant. There is space in the Lease Addendum to add the following information:
- additional leasing conditions;
- all other information that was not signified in the rental agreement.
Where do I send LPA Lease Addendum after completing it?
The LPA Lease Addendum must also be sent to the Landlord Protection Agency after you complete it. You can use the following addresses:
The Landlord Protection Agency
PO Box 156
East Meadow, NY 11554