Residential Leases

By | June 4, 2012

Residential Leases are legal bonds or lawful contracts that are duly signed by the landlord or the property owner, as well as the tenant prior to renting a property. Due to the factor of money, renting of a property is not an easy agreement as there are several conditions involved in such an agreement that one must abide by. Both the parties must heed to all the terms or else it may lead to legal hassles in future.

Such forms are now not just monopolised by lawyers or property agents as these are available online too. It must contain data like

  • Occupancy period of the tenant as well as the specifications of the premises of the property and what is included.
  • The issue of parking along with pets must be discussed too.
  • The date of commencement of lease along with the rent amount must also be decided.
  • The amount of security deposit as well as its return must also be outlined.
  • It must also be summarised as to which party is accountable for utilities.
  • Time frame as well as renewal terms must be outlined too.
  • Inspection rights as well as maintenance responsibilities must be included too.

Residential leases are truly a boon since it outlines all possible conditions and terms clearly and prevents any future hassles between both parties. The landlord can be at peace that his property shall not suffer any damage and the tenant can rest easy since his rights shall not be violated.

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