Your lease or rental agreement should include precise information about rent, the security deposit, and other fees that the tenant is responsible for. You should include not only amounts, but also details about when and how fees should be paid.

Rent Due Dates

A lease spells out the total amount of money that must be paid for the year and how much of it is due each month (a twelfth of the total).

It should say that rent must be paid promptly and is due on a certain day each month. A rental agreement will specify what money is due each month and when it is due.

Both should clearly state when rent will be considered late, if there is a grace period, and what late payment fees you charge. Also include a separate clause if you decide that you will also charge a fee for any bounced checks. Late fees and bounced check charges should never be negotiable and that should also be clearly stated in writing.

Security Deposits

A lease or rental agreement specifies how much security deposit is required, how much was paid when the document was signed, and how the money will be used by the landlord. It also should state whether the last month's rent is included in the security deposit. Doing so, however, is not recommended by most experts because if a tenant doesn't pay the last month's rent, you might not have enough money left in the deposit to cover repairs and cleaning for an exceptionally dirty apartment.

Special Fees

There should be a clause or rider in the lease or rental agreement that spells out additional fees to be paid for such things as garage privileges, pets, or a waterbed.

You can include a provision that your tenant will be held responsible for paying all of your costs should it be necessary to hire an attorney and go to court for eviction proceedings.