subject: Importance Of A Residential Lease Form [print this page] Importance Of A Residential Lease Form Importance Of A Residential Lease Form
A lease of any kind is a mutual agreement between the two dealing parties, following all the legal rules and regulations. A Residential lease form stipulates the terms of the rental in which the tenant is going to reside.
When, preparing to enter the rental market with an owned property, it should be well understood that the laws do not only govern the rental market, but protect the lessee from any kind of legal troubles in the future. A tenant might not be very careful with a property that is not his own, thus a lease contains all the terms and conditions, that is agreed to and signed by the tenant, before moving in the rented house.
A residential lease form has the following contents:
1. The form begins with mentioning of the name of the landlord.
2. The name of the tenant follows.
3. This step requires the complete address of the property being rented.
4. This states the rental amount and the date of its commencement. The rental has to be paid to the landlord by the tenant. Only in some circumstances, a designated agent can accept the rent.
5. This mentions the from and to' dates of the lease terms.
6. The security deposit amount forms this section. According to this, a tenant must deposit the security amount to the owner, which is returned when the tenant leaves, if the tenant's performance has been faithful.
7. Prior to occupying the property, a tenant is liable to pay the first month's rent along with the security, to the property owner.
8. The premises should not be occupied by more than the number of occupants stated in this part of the lease.
9. The terms and conditions are explained in this part of the lease.
10. Finally, the lease is signed by the tenant and the landlord, which acts as a proof of their agreement to the terms and conditions of the lease.
A tenant is always required to honor the terms stated in the residential lease form. It always protects the landlord in case the tenant chooses to move out before time.
