How much for a termination fee?

[othersider2]

What is the name of your state (only U.S. law)? PA

I currently use a PA association of realtors lease, and it has a termination cleause that allows the LL to fill in an amount that the tenant must pay to prematurely terminate the lease. In the past, I've made that amount equal to one months rent. Does anyone else use that kind of clause, and if so, what fee do you charge?

 

[Cvillecpm]

UNLESS you are a PA Realtor, you should not be using their lease. Your tenant can dispute your useage under a TX court decision last year where user of a TAR lease was not a member and thei tenant walked from their lease.

Realtor associations can't stop agents from providing the lease forms for clients; however, they will NOT defende the lease if used by non-Realtor members.

Get a lease you are actually entitled to use in your business

 

[othersider2]

Thanks. What do you use?

 

[Cvillecpm]

I have a 6-page Virginia common law lease and a 19 page resident handbook....my properties do not fall under the VRLTA and I can change policies and procedures DURING a lease since I have that wording in the original lease.

I can also file a UD w/o serving a 5-day pay or quit which is unique and only applies if it is in the original lease.

45 years of experience and I've learned some things or 12

 

[Alaska landlord]

OP;

Pennsylvania also has similar laws. You need not give a 5 day or 3 day notice of default in lease before you file for eviction.
Make sure you incorporate it in your lease. Joining a local landlord association would be of great benefit to you. They also offer reduce or discount attorney fees for their members.

Lookup your landlord tenant rights before you rent. Know your state, local and Federal regulations regarding fair housing, lead paint, and other laws that may bite you in the rear.
Take careful notes of exemptions to these laws and how you can use them to your advantage.

 

[racer72]

UNLESS you are a PA Realtor, you should not be using their lease. Your tenant can dispute your useage under a TX court decision last year where user of a TAR lease was not a member and thei tenant walked from their lease.

45 years of experience and I've learned some things or 12

Guess you never learned that Texas court decisions don't mean squat in Pennsylvania. I am not a realtor in my state but I use a boilerplate lease agreement supplied to my by my state's realtor association.

 

[Alaska landlord]

Guess you never learned that Texas court decisions don't mean squat in Pennsylvania. I am not a realtor in my state but I use a boilerplate lease agreement supplied to my by my state's realtor association.

• Case Law is the large body of knowledge and precedent established over the course of time by judicial decisions regarding the interpretation of common law and statute law.

Appellate courts decisions from other states establish legal precedent that courts often use to justify their decisions.

 

[othersider2]

I would like to join a local landlords association, but I don't know where to find one. Google searches are not bearing any fruit. Can anyone help me find one in the Philadelphia area?

 

[Alaska landlord]

Google" philadelphia landlord associations"

 

[You Are Guilty]

UNLESS you are a PA Realtor, you should not be using their lease. Your tenant can dispute your useage under a TX court decision last year where user of a TAR lease was not a member and thei tenant walked from their lease.

What is the name of this case?