A rental lease format functions as an outline of a rental lease. It is a record of the agreements based on rentals that transpire between the parties involved in the lease deal. It has to be prepared meticulously as any lack of understanding of the propositions can have serious consequences in the legal arena.
Sample Rental Lease Format
This rental lease is based on the agreement that all the parties concerned have clearly read and understood the terms and conditions of contract. The details provided have been verified. The following particulars are to be considered:
First Paragraph: The first paragraph of the rental lease must include the basic information about the lesser and the lessee. It must provide the names and addresses of the parties involved in borrowing and lending of the property. The dates of the contract must be specified to indicate the valid time period of the deal.
Second Paragraph: The second paragraph of the rental lease must specify the terms and conditions of the lease. The payments to be made in either cash or cheque on a monthly basis and the amount of security deposit should be clearly specified. It should be mentioned clearly that any case of damage to property upon return will be considered as a breach of contract and will make the lessee liable to punishment.
Third Paragraph: The third paragraph must provide a conclusion to the rental lease with the names, addresses and designations of the witnesses ratifying this lease. The signatures of lesser and lessee must be provided in full.
Signature of lesser: ___________________
Signature of lessee: ___________________