Let’s say you have a property somewhere in the middle of the city’s business district. Now this isn’t just like any other property in the area. It’s placed perfectly where it’s easily exposed to traffic. Meaning people come by this area more often than not, passing by, going through their day, but still nearly interacting with your property. I say nearly because, well there’s nothing there yet. The smartest thing to do here would be to take advantage of this good spot and establish a business there. With the significant amount of people passing by, surely some, if not most of them will be interested to interact with your shop and buy something.
That’s simply how business works, startup ones at least. Now, say you can’t establish the business on your own, you have have some prior arrangements that need to be attended to or maybe another business in another place that you need to oversee. Well the second best thing to do with your property if to have someone else rent it. They can establish their own shop and still you’re raking in cash from the rental payments. Now, to make sure that you and your client or the person who’s renting the property is on the same page, you’ll need to draft a document most commonly known as a shop rental agreement.
As a landlord or a property owner, if you want your property to be rented, it is important to have a document such a a shop rental agreement to protect your rights as a property owner and your property itself. If ever you and your tenant come across a legal dispute, you will have a more favorable outcome in court if you have a written agreement on hand. The document ensures that whatever your tenant may be doing in your property, it is well within what the both parties agreed to. It just saves you a lot of money and a lot of trouble away from disaster. There have been some pretty interesting cases of landlords being cheated away from their own properties because they lack the sufficient documentations in order to defend themselves in a legal process.
That is why before any business is done, it is imperative to have a shop rental agreement that the both parties have agreed to and will uphold. To properly draft this document, you have to make sure that you are perfectly familiar with is, what it looks like and how it work. Check out these shop rental agreement samples that we have listed down below. Once you’ve gotten yourself acquainted with the document, feel free to use these samples as a guide or even as templates for your own shop rental agreement.
9+ Shop Rental Agreement Samples
1. Shop Rental Agreement Template
2. Shop Equipment Lease Rental Agreement
3. Monthly Shop Rental Agreement
4. Shop Outdoor Equipment Rental Agreement
5. Violin Shop Rental Agreement
6. Gear Shop Rental Agreement
7. Shop Rental Liability Release Agreement
8. Shop Rental Accident Insurance Agreement
9. Shop Landlord Rental Agreement
10. Commercial Tenancy Shop Rental Agreement
What Is a Shop Rental Agreement?
A shop rental agreement is a document that serves as a contract between you and your client or tenant. Defining the terms of the tenancy and the the rules and regulations for the whole duration of the rent. Writing a rental agreement can have its own creative freedom because you can just basically decide what goes into the agreement since ultimately this is about your property.
A lot of rental agreements are short term, usually for around 30 days. While a similar kind of rental agreement, also commonly known as a lease agreement, are used usually for longer rental periods, like a couple months, a year, or even more than that. A rental agreement is a good tool if you want to make sure that your client who’ll eventually use your property is reliable enough to not cause any trouble or damage the property itself. Rental agreements also has its own benefits compared to a lease agreement. Which is rental agreements are typically easier to terminate per contract, rather than a whole lease.
How to Write a Shop Rental Agreement
A rental agreement should include specific provisions so that the document does its purpose of protecting you. It’s usual for property owners to have an attorney prepare the agreement for you. More specific provisions can be included, depending on the scale of your property or the type of rental. Regardless, the document should include at least the following 10 items.
1. Identify the parties to the agreement and the address of your property
Make sure that you list down the name of the client that will be using your property and provide them your details as well. Include both of your names, the address of the property, and a rough description if you are unable to provide the complete specific address. Be precise.
2. The term of the rental and how it ends
List how long the rental term is and make sure they understand it. Start the rental term on the first of the month. Include how much notice you and your client must provide is either of you wants to end the rental agreement.
3. Rent and security deposit
State how much the monthly rent is, where the tenant should pay, and how the payment process is going to be. State whether you accept cash, card, or cashless payment. If you want your client to send a check every month, include the mailing address. Include the interest in payment if there are any late fees, but make sure that they are not excessive.
4. What’s include with the rental
State whether the property provides any extra utilities or amenities. Electric, heat, gas, cable, etc. If not, state the client’s responsibility for the utilities. Give a clear description of what’s included in the rent and what isn’t. What utilities are present in your property and the ones that your client still needs to provide for themselves. State if you’re providing appliances and furniture, list them by their names.
State if pets are allowed on the property or not. You can also choose to have a no-pet policy, be sure to state that in your agreement.
6. Each occupant’s name and the number of occupants
If you don’t want additional occupants more than the original client, state that the tenant is the only person allowed to occupy the property. List all occupants that are allowed and the maximum number of people that can the property can accommodate.
7. Landlord’s access to the property for repairs, maintenance, and repairs
Be clear about the notices you’ll give to enter the premises for repairs and maintenance other than for emergency. Some local communities have their own requirements for notices, while some of the states have consistent requirements all throughout the state.
8. Rules of the rental
List the things that you expect from the tenant such as no illegal activities, no smoking on site, and must be closed at a particular time of the day or night. State that you’ll terminate the agreement of the client fails to follow the rules that you have listed, and that the client is responsible for the legal fees if the issue reaches court.
9. Damaged property
State that the client is responsible for damages other than the property just breaking down. Include that the client must return the property in the condition that it was originally in.
You and your client should sign the document and have it signed by an attorney or a notary for legal binding.
What are the types of rental agreements?
- Fixed-term leases
- Automatic renewal leases
- Month to month lease agreements
- Standard residential rental lease agreements
- Short-term or vacation rental agreements
- Sublease agreements
- Room rental agreements
- Commercial lease agreements
And many more.
Who pays the rent agreement?
The landlord usually keeps the original copy of the rental agreement. Generally, the tenant bears the costs associated with the whole rental agreement process.
How long is a lease good for?
The most common term for a lease is one year. However, leases can really be for any length of time.
Having your property rented has its own fair share of risks, most more compelling than others. But as long as you have these elements in your rental agreement, and that your document is well drafted overall, you’ll be protecting yourself from a world of trouble. The rental agreement provides a relatively easy way for you to impose your authority as the landlord and show them that they should be responsible for all of their activities during the duration of the stay.
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