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FIRST AMENDMENT TO LEASEBetweenTOWN OF WATERTOWN, INDIANA as LessorandTOWN OF WATERTOWN REDEVELOPMENT AUTHORITY as Tessellated as of, 2018Prior Recorded Document Reference: Instrument # 201400007821
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01
Determine the terms and conditions of the lease agreement, including the duration of the lease, rent amount, and any additional terms.
02
Prepare the necessary legal documents, such as the lease agreement and any required addendums or disclosures.
03
Advertise the property for rent to attract potential tenants. This can be done through various methods, such as online listings, signs, or word-of-mouth.
04
Screen potential tenants by conducting background checks, verifying employment, and checking references.
05
Once a suitable tenant is found, arrange a meeting to go over the lease agreement and have it signed by both parties.
06
Collect the security deposit and first month's rent from the tenant before handing over the keys.
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Keep thorough records of all transactions and communications with the tenant throughout the lease.
08
Maintain the property in good condition and address any repairs or maintenance issues in a timely manner.
09
Collect rent on a regular basis and enforce any lease policies or regulations.
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At the end of the lease term, conduct a final inspection of the property and refund the security deposit, minus any deductions for damages or unpaid rent.

Who needs as lessor?

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Anyone who owns a property and wishes to generate income by renting it out can become a lessor.
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This can include individual property owners, real estate investors, or property management companies.
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People who own residential or commercial properties may choose to become lessors.
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A lessor is a person or entity that leases out property or equipment to another party, known as the lessee, under a lease agreement.
Any individual or business that leases property or equipment and receives rental income is required to file as a lessor.
To fill out as lessor, you must complete the appropriate tax forms required by your tax authority, providing details about the rental income received and any applicable expenses.
The purpose of filing as lessor is to report income earned from leasing property and to comply with tax regulations.
As a lessor, you must report total rental income received, any deductions for expenses related to the property, and details about the property being leased.
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