A tenant lease is a special charter document that comprises of the conditions and clauses that define a particular contract wherein a property or area is to be rented to some person or organization. The tenancy lease agreement generally includes all those important aspects that form a regular part of all lease documents, with specialization in certain areas like the house, company, or property to be taken on lease, name of owner and tenant, term of tenancy, etc., which are particular to the respective tenant lease. The dates of various activities that are part of the lease will have to be mentioned clearly. The lease agreement should include every detail of the property being leased, so that the tenant is aware of all the prevailing conditions and can take necessary decisions before signing the deal finally.
The tenant lease should be framed under the supervision of an advocate or an expert who is aware of the exact layout of such documents. Certain major areas are to be covered an approved of by both the parties as well as by the advocate or lawyer and minimum two witnesses who will have to be present as onlookers to the entire process and can prove the same at some later instance, if required. The various points that are to be carefully noted while framing a tenant lease are as follows:
- The serial number of the particular tenant lease should be mentioned at first.
- Name and contact details of both the parties – owner (lessor) and tenant (lessee) should be provided.
- The terms and clauses of the tenant lease must be specified in clear words. Legal terminologies and jargons must be discussed in a simplified manner for easy understandability. Penalties for causing any “breach of contract” must also be mentioned.
- The areas given on lease, its components and other specifications should be mentioned herein. The uses and other clauses must also be specified.
- The tenant lease should contain complete details of all financial statements and payments involved.
- Authentic signatures must validate the approval of both the parties. The signatures of witnesses and of the advocate or lawyer are also very important.
- The date and place of signing the tenant lease should be given.