What to Include in Your Rental Lease Agreement
As a property owner, you should have an agreement between you and your tenant agreeing on o the terms of their stay. Your tenants should sign the rental agreement before you rent them the property. You will be protected legally from a potential bad tenant by a lease agreement. Not only is the landlord protected but the tenant as well. A good tenant-landlord relationship is built by agreeing beforehand the terms of your relationship. When it comes to the rental agreement itself, you need to include some basic things to make the document actually viable. All the basics of a lease agreement must be included in the lease agreement you get online. Below are the basic things that need to be included in a lease agreement.
Parties of the agreement must be included. It is important that the lease agreement states who the lease is between. A rental lease agreement is between a tenant and landlord. Their names should be included in the rental agreement. Clearly, state who is the tenant and who is the landlord to ensure that the terms apply to them. This ensures that the terms of the agreement between the tenant and landlord apply to them as they are now a tenant. Where the property is located should be included in the lease document. Include the hose number and the name of the building, if it has one, on the lease. The location of the building can be identified by including the street name and postal code on the lease agreement.
Include the lease term too. This is how long the lease is. Long-term leases are usually a year. It’s possible to also have a month to month lease agreement. Include the period through which the lease agreement is valid. The date where the lease agreement starts and when it ends should be included. State the specific dates rather than the period through which the lease is valid. Ensure that your lease agreement ends in a seasonable period. This way you will ensure you get a tenant replacement fast. The amount the tenant needs to pay for the lease should be included. The amount of lease for the year should be included divided into monthly allotments that should be paid every month.
The contract thereafter should be made binding. If the contract is not signed by the tenant and the landlord it is worthless. This terms will help you establish a good relationship between you and your tenant.
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