Purchasing properties and putting them up for rent can be considered as a wise form of investment as long as it is properly managed. Rental properties are a form of moving income that requires less cost for supervision or manpower – except the cost for maintenance and repairs once in a while.
Constructing a Rent Agreement helps landlords manage their rental properties well and serve as a tangible source of reference for both a tenant and a landlord for an outline of terms and conditions related to the tenancy. Hundreds of Agreement Forms and Rent Agreement Forms can be downloaded from the internet, but not all of them cover the basic and necessary items that are needed for a substantial Rental Agreement.
Residential Tenancy Agreement Form
Room Rental Agreement Form
Basic Rental Agreement Form
Car Rental Agreement Form Example
Rent Agreement Form in Word Format
Rental Agreements and Its Contents
The following information are typically found in a Rental Agreement:
Name of the lessor
Name of the lessee
Exact address of the rental property
Landlord’s service address
Total amount of rent required to be paid.
Schedule of payment – some rental units are due by the month while leases are due quarterly, annually, or semi-annually.
Paying advanced security deposit, usually at around 2 months worth.
Duration of the tenancy
Specific terms and conditions
Rules and regulations
Rights and obligations of both the landlord and the tenant
Rent Agreement Form PDF
Rent Agreement Application Form
Annual Rent Agreement Form
Commercial Rent Agreement Form
Rental Agreements are Legally Binding
Lease Agreements are technically legally binding and obligate both the landlord and tenant to comply with the terms and conditions being outlined in the contract. A violation of the contract can result in a breach of contract and may be cause for disputes.
Maintenance and Repairs
The maintenance and repairs clause in a Lease Agreement indicates whether it is the tenant or the landlord who will cover the costs for maintenance and repairs. Landlords usually require a security deposit at the beginning of the lease. A security deposit is a payment other than the advanced deposit which usually covers up for repairs and maintenance costs or unpaid dues.
Privacy Rights of a Tenant
The tenant must be given all rights when it comes to privacy. In the event that the landlord must invade the privacy of the tenant, such as routine room or apartment check-ups, then the landlord must notify the tenant before he or she can do so.
Terminating a Rental Agreement
If you are a tenant, you have to make sure that you have a legal reason for terminating your lease or your landlord may have reason to take you to court and not give you back your deposit.
Landlords, on the other hand, have to make sure that they are able to construct a Rental Agreement that is able to set proper boundaries and expectations. Our Free Rental Agreement Forms give you exactly that. Our free forms are printable and easily accessible, allowing you to save time and money.
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