A legal agreement to protect the duties, rights & responsibilities of the owner and the tenants is known as a rental agreement. A rental agreement is generally a month-to-month paying agreement. After a month the landlord and tenant can usually change the terms and condition of rent. A rental agreement can be negotiated and sign when the tenant is renting a property from the landlord. The agreement includes details about the property, tenant, and the landlord. The rental agreement usually includes the following items:
- The duration of the contract
- the amount of rent
- the increment in rent terms
- conditions allowed for the tenants
- conditions not allowed for the tenants
- the amount of security deposit, late payments fines, and all the other extra charges
- insurance terms
- maintenance terms
- sale and purchase terms
Without the Owner’s prior written consent, no bird or pet shall be kept in the premises any repair or decoration will take the permission of the landlord in contrast the tenants must visit the property prior tenancy period to ensure that all the facilities stated in the agreement actually exist.
Another form of the rental agreement includes a rent-to-own agreement which is a contract to purchase or buy the rental property. It gives the tenant the opportunity to buy the home at a fixed price in a fixed time. In this case, the tenants can pay non-refundable charges to buy the land lord’s property at a fixed price.
You can make your rental agreement via downloading free rental agreements available online with customizable options fit for your need.
Rental Agreement Template
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