What Is A Rental Agreement?
A rental agreement is a document that is written by the property owner. This document talks about the terms and conditions and rules to be followed by tenants during the rental periods. Therefore, having a basic rental agreement will lead to success and ease because you can inform the tenants about the expectations and requirements. Furthermore, this agreement will work as a guidebook when there is a problem arise in the future.
To make a perfect agreement, there are some steps you need to follow, which are:
Customizing The Basic Rental Agreement Templates
We provide you the basic rental agreement or residential lease templates to ease you write it down professionally. The templates come with terms and conditions with a well-written language. However, you still need to customize this template with the state, federal and local laws. Also, maybe you have the specific requirements you want to write down.
If you have additional rules such as putting deposits, automatic renewal clauses, pet deposits and so on. Make the additional details as clear as possible. The clearer you make it, the better for both parties in the future. Because, we have never known what kind of problems we are going to face in the future, With these additional details, it is easier for you to fix it.
Be Specific Basic Rental Agreement
An agreement should be made clear. This should be something can be understood by the tenants about what they can do and cannot do. The details are including the rental term whether you want to make it monthly or annually. State also the start date and end date, resident’s profiles, cosigner’s name, maximum occupancy, rent amount, fee rules, due date, payment method, deposit amount, pet deposit, utilities, additional fees, fixing fees and so on. By stating such things clearly, this can avoid you and your tenants into a dispute. Most problems usually come froms missunderstanding about such rules. Besides, the worse things are often caused by the agreements.
Always Add Necessary Clauses Basic Rental Agreement
Clauses are crucial. This is the most helpful tool that you can use when there is a problem in the future. Besides, the clauses can protect you and tenants from misleading. The clauses can act as the guide book about what to do to handle certain situations. There nine important clauses to include, which are:
- The severability clause
- Jinly and severally liable
- Access to premises
- Lessee to maintain
- Atorneys’ fees
- Sublet rules
- Disturbance clause
- Holding over
- Rent liability
- Update Your Basic Rental Agreement
Every time you sign to accept a new tenant, consider updating your agreement lease. You can update it through the following ways:
- Update the rental terms
- Update the rent price
- Update the rules and also requirements
- Update the laws
Rental business can be very beneficial because we don’t have a lot of effort to provide the service. As long as you have the properties and facilities, then it is OK for you. However, such a business is also prone to dispute when you don’t make a proper agreement. This is why we suggest you to at least begin with the basic rental agreement and then make some customization so it suits your conditions.
Basic Rental Agreement Sample Template