A contract or a document that binds a person who rents and the owner of the property is called a lease. Any sort of property renting, whether for parking areas, office spaces or for residential purposes, should require the use of a lease agreement.
Lease Application Forms vary significantly on where they are to be used and what purpose they will serve to the involved parties. A landowner may rent out his agricultural land with the aid of an Agricultural Land Lease Application form, while, an apartment owner will rent out his space and use a Commercial Property Lease Application for his tenant.
Lease Application Forms in DOC
Quarry Lease Application Form
Partnership Lease Application
Commercial Sublease Application
Residential Lease Application
Lease Extension Applications
Lease Extension Application
Lease Extension Addendum
Lease Renewal Extension
Residential Lease Application Forms
Residential Lease Application
Residential Lease Application Example
The Importance of a Lease
A lease is a contract signed by the tenant and the landlord. The document may be one to twenty pages long, depending on the range of information being stated for the knowledge of the tenant. One important reason why the tenant and landlord should have a lease is to have a documented agreement regarding the terms and obligations for renting the property.
The rent duration is also indicated in the form which is often a minimum of a six-month period. A Lease Extension Addendum and a Lease Renewal Extension may be used by the landlord when the tenant will request and extension of his stay in the property or if he wants to renew the contract.
As soon as the parties have already agreed, they may need the assistance of a legal attorney to manage and read over the contract to assure that there are no problems with their terms. Another significance of having a lease is that it will help protect both parties against faulty assertions. Penalties and a legal preceding will be faced by the opposing party should the terms of contract be violated.
Using a Consent to Lease a Mortgaged Property
There are instances when a person is leasing a property which is not under his own name, therefore causing future conflicts with the owner. But, nowadays, attorneys consider this form of rental business if a person can present a Consent to Lease Form to the authority. This form is also known as a “Consent-to-let” form and is commonly used by landowners owners who are under a mortgage or a loan.
The owners need to inform their lending agency that they will be leasing their property to another person. However, there are limitations as to who are allowed to rent in the mortgaged property, such as individuals who do not have an immediate relationship with the owner or those whose names are not stated as guarantors of the loan.
When a mortgaged property is being used for rental purposes, the mortgage providers or the loan agencies will adjust their terms and conditions to lessen the accompanied risks that the property owner is taking in becoming a landlord.
Showing the mortgage providers that you are a responsible person in paying the mortgage will easily convince them that you will be a responsible landlord for the business. Without the consent, a landlord may meet varying cases of penalty fees and demands for returning back payments.
Consent Lease Application Forms
Sample Consent to Lease Application
Residential Lease Application Form Sample
Residential Lease Application
Commercial Lease Application Forms
Commercial Property Lease
Commercial Bank Lease Application
Rental Lease Application Forms
Blank Rental Lease Application
Rental Lease Application Form
Types of Lease Application Forms
Quarry Lease Application Forms – Used to allow a company to perform quarry operations, such as excavating underground for stones, rip rap, gravel and sand, for construction purposes.
Partnership Lease Application Forms – Often used between multiple individuals who decide to have a lease. This type of lease should state provisions for future possible problems, such as when one of the involved partners will start to avoid and leave the group suddenly. The partners will be assigned to specific obligations and may be subject to different penalties when a breach of contract will occur. Substitution of a partner may happen if the remaining parties will agree to do so.
Commercial Sublease Forms – This form will allow a tenant to rent out the landlord’s property under a number of terms and conditions. The landlord may state some requirements in looking for a prospective tenant.
Residential Lease Application – Of all the lease application forms, this is the most common. The focal point of this form is for residential purposes. This will state the amount of the rental fees, the bills, the time period of the lease, and lastly, the details of the tenant and the landlord’s information.
Lease Extension Application or Addendum – This form will be used if the tenant is asking for an extension of his tenancy contract. A period of three months is often provided by the landlord.
Lease Renewal Extension Form – Compared to a normal lease extension, this form aims to renew the contract to allow the tenant and the landlord to review the terms and conditions of the previous agreement.
Lease Credit Form – This document is to be used by a landlord who borrowed from a loan agency to finance his owned property. This lease credit may be created through sales and transaction of purchases.
Land Lease Application Form – This covers the industrial and agricultural land areas. A landowner may require a premium from the tenant which refers to the initial amount of the lease payment. This lease will aid in clarifying the purposes and goals for leasing the land property. The owner may state if he will allow plantations and gardens to be constructed, or if he allows tractors and machinery to be placed on his land.
Lease Credit Application Forms
Lease Credit Purchase Application
Commercial Lease Credit Application
Business Lease Credit Application
Land Lease Application Forms
Industrial Land Lease Application
Renewal Land Lease Application
Agricultural Land Lease Application
Vital Areas of a Lease
If this is the first time that you are going to sign a lease, then you should observe the important key point that should be present in the document:
The basic information. This should include the title of the document, the type of lease, and the identifications of both parties.
The length of the lease. You should be able to find in the document the time period that you are allowed to stay in the landlord’s property.
The associated fees. This includes the bills, taxes and the rental payment that the tenant should provide on a monthly basis.
The obligations and responsibilities. The landlord should be able to state what the tenant will be accounted for and his limitations in using the property. There are instances that the water and the electricity bills are being paid off by the landlord which means that the tenant will only be paying for his rental fees and other maintenance fees, such as the security per month.
Tenancy At Will
There are forms of tenancies and the most common among them is the tenancy at will. This happens when there is no written and formal Lease Contract that binds the tenant and the landlord. One of the parties involved in a lease may decide to terminate the agreement with a proper notice.
This form of tenancy does not have a certain period of ending the contract as it may end at any time upon the decision of the landlord and tenant. This is often visible in small rental places and properties where both parties will only have a verbal agreement unto each other. But, every agreement may be broken by one or two incidents. Listed below are the two instances that may broke the tenancy at will:
Whenever a tenant is caught causing property damages and destruction.
A lawsuit for waste, a legal term used in addressing property damages caused by a lifelong tenant, may be filed by the landlord to the tenant and the pending charges will depend unto what kind of waste his actions are pertaining to.
When the tenant is assigning the property to another party.
A valid consent is needed to allow this action, however, since the tenancy at will does not involve any form of contract, the tenant will be subjected to perjury penalties.
A lease form is not only limited to renting houses and land properties, but also for vehicle rentals. A Vehicle Lease Agreement will be used by motor vehicle owners who aims to rent out their property to other drivers in a specific amount of time.
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