Rental Lease Agreements are the perfect way for a landlord to protect his rental properties and set proper expectations among tenants. Rental Agreements are not specifically required by law; in fact, some states deem verbal rental agreements enforceable. However, a savvy business owner would know the importance of having a written contract as a means of tangible proof.
Rental Lease Agreements are contracts made between a landlord and a renter. As with other Agreement Forms, Rental Lease Agreements provide protection and security between both the tenant and the landlord. Lease Agreements allow a landlord to properly set payment terms and house rules for the tenant and also ensure the tenant that prices for rent will not increase ostentatiously without prior notice.
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The Advantages of a Rental Lease Contract
Both parties that have agreed to the terms and conditions of a Rental Lease Agreement should understand that what they have both agreed to is legally binding. Apart from added security on both the tenant’s and the landlord’s parts, Rental Lease Agreements also serve as a documentation and a reference point for the rules laid out in the contract, such as a tenant’s duty to pay rent on time and a landlord’s duty to attend to any maintenance and repair needs of the property, especially the ones that were not incurred by the existing tenant.
As a tenant, specific rules and conditions must also be incorporated: following the given set of rules, such as those pertaining to house pets, following the proper disposal of waste and garbage, not causing a disturbance to other tenants, the proper use of outside space and common areas, and vice versa.
As a landlord, it is your duty and obligation to provide a safe and clean space for your tenants and to guarantee their privacy by first seeking consent prior to initiating or ordering credit checks and background checks, disclosing important information about health or the environment that may be hazardous to them, seeking permission from the renter when you need to enter the rented property for repairs or maintenance, and respecting your tenant’s right to privacy and confidentiality.
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Contents of a Rental Lease Agreement
Rental Lease Agreements typically include the following information:
- Names of the landlord and the tenant
- Address or location of the rented property
- Amount of rent due
- Mode of payment
- Amount of advance deposit required
- Security deposit
- The stare and end dates of the tenant’s residency
- The necessary terms and conditions that need to be adhered to
- House rules
Maintenance and Repairs
It should be stated in these forms as to who’s obligated to repair or maintain the property being leased. It’s usually stated in the terms and conditions as to who is obligated to provide the necessary repairs and maintenance. It might be the tenant who has to do it all, or it could be the landlord who might provide it. It all depends on the contract agreement made by both parties.
A Lease Agreement should state the privacy terms of the renter, indicating that the landlord may only enter the leased space after a given notice or after seeking authorization from the renter.
Constructing Rental Lease Forms or Lease Agreement Forms can take some time. Our free sample Rental Lease Agreement Forms are easily accessible and cover all the necessary items that should be in a Rental Contract.
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