When a landlord accepts a tenant’s application to rent out his property or rental unit, a rental agreement is created to ensure that both parties are able to formalize the agreement and to establish clear and proper terms and conditions pertaining to the rental policies.
A rental agreement is a written contract that is legally binding. Rental agreements typically constitutes details that are important and are directly involved in the tenancy. You can view our Sample Agreements to help you get started on your own rental agreement.
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A rental agreement is a written contract that allows a tenant to use the unit for a span of 30 days or up to a month. Rental agreements typically renew at the end of each month.
Having a rental agreement helps a landlord to establish set terms and conditions to maintain peaceful relationships between a tenant and a renter as well as a renter and his co-renters.
It is not a challenging task to whip up a rental agreement. Below is a list of details that need to be incorporated in one to make sure that your agreement is foolproof:
Name of the Renter and the Tenant
Rental agreements should include the name of the landlord and the tenant. However, it should not stop there. A good and foolproof agreement must also indicate the names of all occupants in a rental unit. Doing this guarantees that each person should abide by the terms and conditions stated in the contract and that all occupants are responsible in making sure that the monthly rent is being paid.
Number of Occupants Allowed
It is important to specify the number of occupants who are expected to live in the rental unit. This is to ensure that only those who have been thoroughly screened are allowed to reside in the property and makes sure that the rental unit will be properly maintained.
Duration of the Tenancy
Since rentals renew every 30 days, it is important to indicate the start date and the end date of the tenancy in order to properly establish renewal dates among tenants.
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Amount Due Each Month
The amount of rent due each month should also be specified in the agreement as well as the date for which it is due and the preferred mode of payment.
Installments and Partial Payments
Installments are partial payments paid to a person. This is usually done due to the payer’s inability to compensate the person immediately. So rather than no payment, the two parties would agree on a form of down payment where one party will pay a certain amount either monthly, quarterly, or annually depending on the receiver’s preference.
Rule pertaining to pet ownership, garbage disposals, noise distractions, etc., have to be clearly stated in the contract in order to clear and proper expectations among tenants and to avoid misunderstandings.
Reconstruction or Replacements
In some cases, a person will eventually damage the property of their residence, be it intentional or not. In this case, the landlord of the apartment would ask to be compensated for the repairs or will order the inhabitant of that apartment to repair it or replace any damaged furniture or structures.
Tenants can also be allowed to replace certain furniture within the apartment provided that the tenant has informed the landlord ahead of time so as to clarify whether or not the addition or replacement of furniture or structures in the apartment is allowed.
Our free rental agreement forms are easily accessible and are guaranteed to contain the necessary information that needs to be in a rental agreement. You can also view our other agreement forms like our Sample Personal Loan Agreements and Sample Lease Termination Agreements.
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