The contracts that have been created with the purpose of forming a legal relationship between a landlord and tenant are known as lease agreements. This type of an agreement certifies legally that the tenant can use the enlisted property that belongs to the landlord in exchange of rent per month. The essential elements of such an agreement are as follows:-
- The time period of property usage by a tenant as well as the exact rent amount to be paid per month by the tenant to a landlord.
- The fixed period of time must be mentioned with the dates when the term of lease starts as well as ends.
- The landlord and tenant must both agree upon the terms and conditions and must sign the lease with their full signatures
- Accountability for utilities as well as maintenance of the property and such other formalities are dealt within the lease agreement to prevent future hassles.
- The exact address as well as all sorts of specifications with respect to it must be given in detail in the agreement.
Such an agreement is no longer only available with lawyers or agents. These are freely available online where you can print and download them for free. It is advisable for both the tenant and landlord to sign a lease as this legal contract shall contain all the answers in the face of a dispute. In this manner no one’s rights shall be violated and both can be at ease with respect to the lease.