FREE 19+ Sample Rental Agreement Templates in PDF | MS Word

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What Is a Rental Agreement?

Whether you are renting out an apartment or managing an equipment lease, aside from rental application forms, you need a rental agreement to protect your business from unhealthy tenant’s practices. Because a rental agreement is a legally-binding document, it defends you against future disputes that are sometimes raised to the court. Moreover, this agreement ensures that both the landlord and tenant are on the same page in terms of leasing by setting out various relevant stipulations. These guide the parties and guarantee they perform their roles and obligations during the lease term. It also defines the limits of the agreement made and how it will be terminated.

How to Write a Compelling Rental Agreement

Have you ever seen people throwing blows at each other because of overdue rent? What about people going to court because of rent? Some people are even being thrown out of their houses because they can’t pay. Did you know that without a well-written lease agreement you can easily lose a case in a court of law? Only 66% of Americans own their homes. The remaining 34% of the general population rents the places they are staying in. Because the number of renters has increased two times faster than homeowners since 2010, the demand for properties for rent rises too. Thus, learning how to write a rental agreement is crucial for both renters and rentees.

1. Give the Agreement a Title

Running a rental business requires more than one document. Aside from agreements, there are rent receipts, letters, notices, policies, and other business-related papers. In this case, labeling these documents properly tells them apart from one another. You can set the title as “Rental Agreement” or “Lease Agreement,” depending on what suits the agreement better. Place this at the top of the document in bold fonts.

2. Introduce the Parties

The rental agreement’s secondary section is the introduction of the parties. This part recognizes the people who are in full understanding of the agreement. Hence, include both the tenant and landlord’s complete names and label them as “Tenant” and “Landlord” respectively. You can also use their registered business names if necessary. Next, cite their complete residential or business addresses.

3. Define the Term of the Lease

After the introduction of the parties, define the term of the lease in the agreement. This section differs in various agreements depending on the nature of business. For a simple agreement, the term of the lease should be consist of how the agreement came to be, the location of the property being leased, the property’s premises and description, and the period of the rent. This is quite challenging to write as it is the most important part of the agreement. If you are having trouble, refer to a sample on the internet.

4. Set the Terms and Conditions

Next to the term of the lease are the terms and conditions. In this part, more time is needed to come up with flawless stipulations. It is important to keep in mind that the terms and conditions of every written agreement guide the parties in performing their parts. There are a few clauses you can include in a rental agreement. That is fees, payment method, security deposit, late fees, use of property, maintenance and sanitation, and a termination clause. You can also incorporate generic clauses like an acknowledgment, amendment, cancellation, and governing laws if applicable. Once done, provide two signature blocks for the tenant and the landlord. Before sealing the deal, make sure you have reviewed the agreement to avoid discrepancies.

FAQs

Renting has become the most cost-efficient way to find a place to stay temporarily. Because of that, the number of short-term and long-term renter have increased over the years. Along with that is the high demand for properties to be rented out. Whether you are to rent or to rent out, having a well-written agreement and knowing how to create one is a crucial skill. To help you make an effective rental agreement or an agreement of any sort, download a template today!