The rental lease contract is between tenant and landlord. It outlines the conditions under the lease they agree to rent their property to be used by another person. This is the most popular type. It details how long you’ll remain as well as the amount you are required to pay and the amount of notice you must give. Before you move in ensure you get an official rental agreement signed by the landlord. This will protect your possessions from being damaged by other people or acquired by a different owner.
A rental lease agreement is intended to ensure the security of both parties. This agreement governs who can be able to do what with the rental property and the amount each is required to pay for its maintenance.
When you are signing an agreement to rent, you must read it carefully to make sure there aren’t any hidden charges or unclear the language. Ask your landlord for clarification should you not understand something before signing.
There are three kinds of clauses found in a rental agreement:
1.) Rent and the terms of payment
2.) Termination, term, and renewal
3) Damage deposit
4) Utilities
Maintenance
Terms of Payment and Rent The amount you’ll be required to pay, the date on which it is due, and whether you are willing to pay a deposit.
The rental’s actual terms The length of your lease will last, its renewal conditions, and if there are any options or alternatives to early termination for either party.
Changes in ownership: If your landlord is planning to sell their home or building to a new owner, this clause describes what will happen to the lease.
Damage deposit Damage deposit: This is the sum that you must pay up front in case of property damage. Any deductions made from this deposit should be noted in the contract.
Utilities: If utilities are part of rent or are an additional expense.
Maintenance: Are you accountable to maintain the lawn and cleaning up the pool? What is the expectation of your landlord to fix any issues or let them handle everything?
Also, you should keep a copy of the rental agreement with your local municipality of the rental agreement. This will establish that there an agreement for renting in place should you ever have to take it to court to show it.
It’s crucial to remember the period in which you must keep this document in order; each town has its own protocol for how long they allow details like this to remain on record. Make sure to note that if you have made major changes made to your written lease, you might require a fresh lease with the town.
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Keep a copy of your rental agreement safe. Make a list with all the key elements of your rental agreement and keep it updated throughout your stay. This is to ensure you are able to prove your claim if anything happens. It’s recommended that you have the ability to take photographs of the building and any damages.
This document safeguards both tenant and the landlord. However your landlord may not always be open to discussions. If things get heated, and your landlord has agreed that some conditions can be altered (e.g. the increase in rent or changing the amount of damage deposits) Be sure to keep this updated list. Making note of the changes will aid you in remembering the changes when you renew your lease or re-lease another home. It may also give you negotiation power.