Lease Contracts are required when a landlord agrees to close a tenancy deal with a renter. Whipping up a Lease Contract formalizes the agreement between both parties and sets proper terms and conditions for them to follow. A Lease Contract is a written document between the lessor and the lessee that makes the agreement legal and binding.
Lease Contracts give the tenant certain rights to use the leased space for an indicated time duration. Leased spaces could range from a variety of different unit types such as a commercial space, a house, an apartment, or a condominium. These Contract Forms are conveniently provided to cater to the type of Lease Contract that you need.
Car Lease Contract Form
Commercial Lease Contract Form
House Lease Contract Form
Land Lease Agreement Contract Form
Lease to Purchase Contract Form
A Lease Contact Form or a Renters Contract Form typically indicates the name of the lessor and the lessee, the length of time that the space is to be used for, and the payment form. Some landlords will charge payments monthly, quarterly, or annually.
The Importance of a Lease Contract
Lease Contracts serve as a means of protection and security for both the landlord and the tenant. When an agreement between both parties is settled upon, a written contract seals the negotiation between the two and conveniently outlines the obligations that both parties have to meet.
Although oral or verbal agreements may also be done, the reality is that people will often change their decisions, forget what they said, or even lie.
Putting agreements into written contracts enumerates specific terms and conditions that both the lessor and the lessee are obliged to implement, creates formality between the deal being made, and serves as a means of security in the event that disputes arise.
What is a Security Deposit?
A Security Deposit is the amount of collateral that a tenant deposits other than the advance payment for rent. Security Deposits are often required as a means of protection for the landlords if in case a tenant fails to follow through with the rules outlined in the Lease Agreement.
Security Deposits may also be used by the landlord to fend for any property damage caused by the renter, replacements, or unpaid dues.
Both the landlord and the tenant have specific rights that are acknowledged by the state. Creating a Lease Agreement can be a tricky and tedious process, and the consequence of not having one may result to a serious problem that will eventually lead to financial loss, property damage, unpaid utility bills, a risk of illegal activities, and expensive lawyer fees.
Residential Lease Contract Form Free
Lease Contract Agreement Form
Lease Contract Release Form
Lease Contract Extension Form
Lease Contract Form in PDF
Lease Contract Form for Apartment
Duties of a Landlord
As a landlord, it is your responsibility to provide a safe and a clean space for your renter. You are also obliged to ensure your renter’s privacy by seeking permission or authorization from them when you need to enter the property, disclose any information that might be detrimental to them, respect the tenant’s confidentiality, return security deposits if the space is still in good condition after the lease, and to respect tenants regardless of race, age, or beliefs.
Tenant Obligations
Tenants have their own set of key responsibilities too. As a tenant, you need to make sure to settle rental fee obligations on time, repair damage that you incurred, use the space in accordance to what was stated in the agreement, abide with the laws constituted by the landlord, and to not use the space for illegal business or transactions.
Also see: Land Contract Forms
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