subject: As More And More People Lease Homes, How Does A Landlord Document The Arrangement? [print this page] Renting a home or an apartment is not as simple as is commonly perceived and depends on more factors than simply paying the rent. It is a working relationship between the landlord and tenant and requires understanding the requirements of one another and adapting to the code of conduct specified by each party. The residential lease agreement is a formal contract for properties that are rented out as private dwellings and they specify more than the rent, and includes other terms and conditions such as rules and regulations to govern the new tenant. It also spells out responsibilities of the landlord and the appropriate penalty clauses that need to be specified at the time of writing out the agreement.
There are two types of rental lease agreements that are based on how long the tenant shall be staying in the residence. The first type is the short-term or indefinite lease when both parties may agree to a month-to-month rental agreement. On the other hand, long-term leases or those where the tenant plans on staying for more than one year is a more comprehensive agreement known as a residential lease agreement. The lease agreement and the month-to-month rental agreement are both legal documents and are valid in a court of law. It is therefore necessary to word and frame these documents using as much care as is possible and it should be easily understood by both parties.
Preparing the rental lease agreement is not at all complicated as long as it contains information such as having a policy specifying pets and parking, description of the leased premises, period of occupancy, stipulating the rent amount, specifying the date the lease will take effect, amount of security deposit and the terms for its return, name of up to four tenants as well as two landlords and designating who is responsible for utilities. Also, in case the dwelling had been built before 1978, the lease agreement will need a Lead Based Disclosure statement that is necessary under Federal Lead Disclosure Act. In addition, the landlord would also need to provide EPA certified information with regard to lead based paint controlling and identifying them.
There was a time when the rental lease agreement was prepared by real estate agents or lawyers but as it consumed too much time and cost more money it has now become common practice for landlords and tenants to prepare rental leases agreements by downloading editable versions from the internet. No matter how it is framed the rental lease agreement is a formal legal contract and is used in the lease of apartments and homes. The rental lease agreement is readily available in the market and finding one should not pose any problem as there are many vendors who specialize in such documents and for a few dollars one may obtain a completely researched and well formed rental lease agreement. There is no need for researching and creating one from scratch as buying these documents provides an avenue for obtaining comprehensively created solutions that have had experts draft them and they are suited for all manner of use. Spending a few dollars, one could reap great benefits as there is plenty to be saved in terms of time, money and cost as well as being tailored to suit individual requirements.
