Renting out residential property has become a popular way of earning extra income. However, most of the property owners tend to overlook some important steps leading to unwanted disagreements between the landlords and their tenants.
Free Rental Agreement Forms Renting out residential property has become a popular way of earning extra income. However, most of the property owners tend to overlook some important steps leading to unwanted disagreements between the landlords and their tenants. It becomes very easy for disputes to arise over the property due to lack of proper documentation. Disagreements may arise due to failure to pay rent by the tenant, damage and repairs on the property, pets and use of the parking area. It is therefore of great importance that the two parties get to sign a rental contract form. The two parties are expected to fill in and sign the rental agreement form that contains all the necessary clauses related to the property that is to be rented out. The form should clearly state the property's address as well as the names of both the landlord and his tenant. If multiple tenants or landlords or both are involved, all the names must be included in the form. The amount of rent and the date of payment together with penalties in case of any delays should also be specified. The condition of the utilities should be specified together with the number of tenants. One of the tenants should take the responsibility to ensure that the rent is deposited in the given time. All the regulations must be clearly laid out to avoid any ambiguity as this could lead to disputes in the future. It is the tenant's responsibility to ensure that the form has been read and understood properly prior to signing it. Failure to do this gives the landlord to misuse the form to his advantage. Remember that once the rental agreement form has been signed, it becomes a legal document and failure to go by the regulations laid out gives the court the right to come in and solve the dispute.
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