LEASE AGREEMENT - RENTAL AGREEMENT
RESIDENTIAL LEASE AGREEMENT
: pertains to homes, condos and apartments.
This legal document sets down terms, rules and obligations
between the property owner, known as the Landlord, and the party
wishing to rent the property, known as the Tenant. Rent is the
consideration paid by the Tenant to the Landlord in exchange for
the exclusive use of the property.
There are two common types of residential lease agreements: a
lease and a month-to-month tenancy agreement.
Keep in mind that there really is no formal absolute lease
agreement type of document. Any stipulation, rules or terms that
both parties agree upon is valid and may be included within the
agreement as long as these terms are lawful and the intent is to
form a legally binding relationship.
There are two common types of residential agreements: a lease and
a month-to-month tenancy agreement.
Lease Agreement: restricts both parties from changing any of the
terms or rules during the entire lease period and must be in writing
to be legal enforceable. It is a common practice for a lease period
to be 1 year or more.
Some of the essential elements of the lease agreement should be
the property address, start and termination dates and the signatures
of all parties involved.
Month-to-Month Tenancy Agreement: is for an indefinite period,
with rent usually payable on a monthly basis. The tenant does not
have to stay in the unit for any specific length of time. Some
obligations as to notice of moving or eviction may exist by statute.
In many cases, the rental agreement itself can be in writing or oral.
However, the document should be in writing if any type of fee or
refundable deposit is being paid. A written document will establish
and make clear the obligations and terms of all parties.
COMMERCIAL LEASE AGREEMENT: pertains to stores,
offices and industrial buildings.
FIRST, THE BASICS: There is no such thing as a "Standard
Commercial Lease Agreement." The results of Negotiations
between the landlord and potential tenant usually determines the
final agreement. However, all Commercial Lease Forms must
contain certain basic elements.
The Lease commencement date must be stated. The Lease
expiration date must be stated. The Names of all parties involved
must be stated. The fixed rental amount is usually stated in terms
of the monthly rent. It is common for the rental amount to be based
upon an agreed sum per square feet of rental area.
Most long-term commercial lease agreements usually require
tenants to pay increases in the monthly rent. These rent increases
are established to compensate the owner for rising costs such as
property taxes, insurance, utilities and maintenance. This type of
lease is often referred to as a Net Lease.
Can you read an existing agreement or contract and tell the
difference between what is legal and what is not ? If you don't
understand all that legal language, you're not the only one.
Whether you are a landlord or tenant, the language of any legal
form can be confusing. Unfortunately, most of us cannot afford to
hire an attorney to prepare such an agreement. Unless you know
and understand contract law, it is very hard to create any kind of
agreement and be sure you won't be in trouble later.
Don't be mislead by all the free and cheap Real Estate Lease forms
available on the Internet. Most are not worth your time or effort
and will ultimately get you in trouble. Our Official forms contains
all the legal language you need and will provide protection
throughout the entire lease period. That old saying about "how you
get what you pay for" has never been more valid.
The entire process to obtain any of our lease forms is quick, easy,
very affordable and most of all USER FRIENDLY.