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When you are a property owner, it is necessary to have a lease agreement read, signed and dated by the tenant. A lease agreement will protect you, should it ever come to the point of having to go to court with the tenant for any reason. This article will go over the information that you should contain within your lease, this will not only benefit you but your tenant as well, in knowing what you expect from them. The lease agreement should primarily identify the property owner and the tenant, as well as the date in which the agreement was entered. The real property address should be included as well as a description of the property you are renting. For example, if you are renting a 2 bedroom house, the lease agreement should state the address and that it is a two bedroom home with or without a garage. If the rental property is an apartment then the areas the tenant has rights to use should also be stated within the lease agreement. Additionally, if there are specified parking spaces for each tenant, the space number assigned to the tenant should be specified, as well as if there is no specified parking, such as on street parking. The terms of the lease should be stated, for example, six months or twelve months. Any form of renewal of the lease should also be stated explicitly within the lease agreement. If you will allow your tenant to renew the lease at the end of the current lease, you must specify your conditions upon the renewal. An extremely important aspect of any lease agreement is the rent amount. This should be stated in written words and numbers. If you are renting to a tenant for $600 per month, you should state within the agreement, "For the sum of six hundred dollars ($600) payable on -put the date here-". State within the agreement to whom the rent is payable to and the address to which to pay it. Any form of fee for late rent payments must also be stated in the lease agreement and when the late payment will be assessed if you intend to charge one. Additionally, state any fees for early termination of the lease agreement or failure to pay rent, including attorney fees and court costs. If you allow pets, state in the lease agreement what type of pet(s) are allowed and how many, any type of pet deposits should be stated. You should state your responsibilities as the property owner such as fixing appliances or damage to the residence as well as any responsibilities of the tenant, such as pest control and the like. If you provide any paid utilities to your tenant this must be in the lease agreement along with any utilities your tenant is responsible for. By providing a lease agreement, you are ensuring an understanding between you and your tenant of what will occur during the occupancy of the residence and what you expect. State how you want the property cared for and how you would like complaints to be handled.
Article Source: http://www.articledestination.com
Ethan K. Roberts writes on a variety of topics not limited to lease agreements. More articles at Real Estate Lease Form and lease agreement articles.
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