Lease Agreements and Tenancy Agreements are used to cover rental lease terms, and protect the interests of landlords as well as tenants - favoring none of the parties. These contracts should adhere to all the state and federal laws, in order to be legally recognized. Find out about 3 important things that should not be missed in these types of agreements. Please visit this website for more info about free rental agreement forms.
Maintenance terms
These contracts should clearly state who exactly would be in charge of the maintenance of the premises. While landlords are typically the one to undertake the responsibility, in some cases – such as when landlords are in some other location – tenants are supposed to handle the maintenance. This is common in case of single family houses. In a few properties, landlords give tenants the responsibility to maintain their property – thereby avoiding the hassles of management and maintenance.
Types of utilities covered
A simple rental agreement should make a mention of the types of utilities that are covered, such as basic energy expenses, heating and cooling, water connection, gas connection etc. The agreement needs to clarify on whether the bills for the same are included in the monthly rental payment and would be paid by the landlord or the tenant has to shoulder some of the expenses or pay the utility bills completely out of his own pockets. It is essential to make this clear right from the beginning, and have it written in proper terms in an agreement, so as to avoid confusions and arguments in the future.
Lease duration
The agreement should also mention how long the tenant is allowed to stay in the premises. If there is an option for the lease to be renewed or a provision for the tenant to purchase the property at the end of the lease term, it should be mentioned therein as well.
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