As a property owner, when you are renting out your property, you should have a document between you and your tenant agreeing on terms of their stay. It's necessary that your tenants sign the rental agreement before you rent your property out. You will be protected legally from a potential bad tenant by a lease agreement. Both the tenant and landlord are protected by having a contract between them. Having a contract between the two of you is a good gesture that shows you'll meet the terms of your agreement. When it comes to the rental agreement itself, you need to include some basic things to make the document actually viable. There are many lease agreement available on the internet, it's however important to ensure that it contains all the necessary basics. This article discusses the terms that must be included in a basic rental agreement.Parties of the agreement must be included. It's vital that a lease agreement for a rental property includes who the lease is between. The landlord and tenant are the parties in rental agreements. The names of the tenant and the landlord or the agent must be included in the agreement. Clearly, state who is the tenant and who is the landlord to ensure that the terms apply to them. The terms of the agreement between the tenant and landlord, therefore, apply to them. Where the property is located should be included in the lease document. The house number and if the building has a name should be included in the lease. The location of the building can be identified by including the street name and postal code on the lease agreement.
The term of the lease should be included. The period of the lease is the lease term. Long-term leases are usually a year. It's possible to also have a month to month lease agreement. It's important that the period through which the lease agreement is valid is included. This is done by stating the date when the lease starts and when the date when it ends. The dates are what should be included rather than specifying how long the lease is valid. Ensure that your lease agreement ends in a seasonable period. This ensures you get a tenant quickly. Include the amount the tenant has to pay. Divide the yearly lease to monthly allotments. Get more info here: www.landlordo.com.
After including, these basic terms and other terms of the lease, the contract should be made binding. If the tenant and the landlord haven't signed the contract it is worthless. You are able to establish a good relationship by including these terms in your lease agreement. Discover more on this page: https://en.wikipedia.org/wiki/Renting.