Renters Lease Agreement
A renter's lease agreement is a legal document specifying the conditions that a landlord and renter agree on the occupation of the landlord's property. An important legal point for all parties to remember is that nothing is absolute about what must go into the agreement. Whatever the two parties are willing to agree to is what the final lease will be. However, a review of online lease agreements indicates that some elements appear in virtually all rental leases.
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Length of Lease
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A 12-month lease is common, but sometimes there may be reasons for a lease to cover a different length of time. A landlord may be willing to guarantee not raising the rent for a longer period of time, such as two years, in exchange for a commitment from the renter to stay for the longer period. A seasonal property may involve a short-term lease of only a month or two.
Payments
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The lease will specify the amount of rent and other charges to be paid by the renter. It will also specify when payments are to be made, and any conditions for additional fees for late payments. If there is to be a security deposit, that is also specified in the lease. If the renter is to pay for utilities, that is also specified.
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Condition of Property
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The lease asks the renter to affirm that the condition of the premises is clean and in satisfactory condition. If major appliances are supplied by the landlord, the lease will ask the tenant to acknowledge that they are in good working order and typically the tenant will be responsible for keeping them in that condition and paying for repairs.
Conditions of Occupancy
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Among the conditions of occupancy found in leases are such matters as the number of people who may occupy the property, restrictions on the renter altering the property without consent of the landlord, and any other limitations such as not making excessive noise that disturbs other tenants. Pets are another issue. The lease may specify that pets are not allowed or that an extra security/damage deposit is required if the renter wishes to keep certain pets.
Conditions for terminating lease
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It is typical for a lease to be automatically renewed on a month-to-month basis after the initial leasing period has expired, or at that point either party may terminate it with a 30-day written notice. If a renter wishes to leave before the initial lease period his expired, she may forfeit the security deposit. Some leases will specify that the renter is responsible for the rent until the lease period expires or the property is re-rented.
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References
Resources
- Photo Credit apartment lease sign image by Aaron Kohr from Fotolia.com
