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Basic Things That Must be Include in a Lease Agreement

As a property owner, you should have an agreement between you and your tenant agreeing on o the terms of their stay. Before renting the tenants the property, you should both sign the lease agreement. A lease agreement may seem non-essential, but it will protect you from a bad tenant. Both the tenant and landlord are protected by having a contract between them. Having a contract between the two of you is a good gesture that shows you’ll meet the terms of your agreement. There are some basic terms that need to be included in a lease agreement to make it feasible. All the basics of a lease agreement must be included in the lease agreement you get online. Your lease agreement should include the following basic terms.

Parties of the agreement must be included. It is important that the lease agreement states who the lease is between. A rental lease agreement is between a tenant and landlord. Names of the tenant and landlord should be included in the lease agreement. The document should clearly state that the person renting the property is henceforth referred to as the tenant and the one renting it is the landlord, this ensures that the terms in the contract apply to them. The terms of the agreement between the tenant and landlord, therefore, apply to them. The lease agreement should include the location of the property. Include the hose number and the name of the building, if it has one, on the lease. The location of the building can be identified by including the street name and postal code on the lease agreement.

Include the lease term too. The period of the lease is the lease term. Long terms are a year long. It’s possible to also have a month to month lease agreement. Include the period through which the lease agreement is valid. You do this by including the date of the start of the lease agreement and the date when the lease ends. Rather than writing the period of the lease agreement, write down the specific dates. When it comes to leasing agreements ensure that they end during a seasonable time. This ensures you get a tenant quickly. What the tenant has to pay should be included. The amount of lease for the year should be included divided into monthly allotments that should be paid every month.

Make your contract binding after including the terms. The agreement is worthless if it’s not signed the tenant and the landlord. Including these terms in your contract will ensure you get have smooth running with your tenant.

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