Having rental agreement templates can be really helpful if you are completely clueless of what to do. Especially for first time or beginner landlords, things can be confusing and complicated as they try to come up with the right form of such an agreement.
With the templates, however, they don’t really need to get a headache. They simply use it, change some things or parts, and voila! They are good to go and ready for discussions. Having a rental agreement is extremely crucial, which makes having the templates convenient and make everything easy and simple.
What’s the Importance of Rental Agreement?
Rental agreement may come with another name, lease agreement, but they are basically just the same. they are written and legal contract that ‘seals the deal’ between the tenants and landlords.
It’s an imperative legal document that has all the clause and terms related to the rental business, including security deposit, monthly rent, basic info about the property, the duration of the tenancy, and such things alike.
When the landlords create this document, they basically propose the clause and terms to the tenants because all of them are still negotiable – everything can still be discussed.
There are some landlords who may not be open to discussion, but the majority of them aren’t like that. It doesn’t hurt for the tenants to talk to the landlords about term or clause that they disagree or can’t perform to such an extent.
After both parties agree, then they need to sign the agreement. After the signage, the document would have a legal binding power over both the landlords and the tenants; forcing them to obey it. that’s why it’s always highly advisable that both tenants and landlords read the contract thoroughly and completely before doing the sign.
The Importance of a Template
Having rental agreement templates can be really helpful because landlords don’t really have to make everything from a scratch. They simply download the already provided templates, changes some of the parts, and print it out. As simple as that.
Let’s not forget that such lease agreement comes in various forms or types. There is agreement for month-to-month lease. There is commercial lease agreement. There is rent-to-own lease agreement. There is room rental agreement, and such thing alike.
As if it weren’t enough, there are lease forms that may be different from one state to another. If you check the template websites, some of them may provide agreement templates based on the states, so users can basically choose which one they need.
The Crucial Aspects to Include
The lease agreement may come in various types and forms, but all of them share the same thing: to legalize the tenancy relationship between the landlords and tenants. That’s why most of these agreement forms have the same things:
- The occupants name. It is important to state the name of the individuals living in your property. This information must be accurate and exact. In the event there is a family of 4 living in your property, you must list all of their names. It would clarify the individuals living in the property as they are responsible for it.
- Tenancy duration. You don’t want your tenant to take over your property over time, do you? Stating the tenancy duration accurately will protect your legal safety and rights as the landlord. It can also be advantageous for the tenants as the landlords can’t force them to move out from the property before the duration is over.
- Rental amount. The information about how much the rent payment is, the date it should be paid, consequences that arise for late payments, and such thing alike should be stated here. Otherwise, tenants may not fulfill their obligation.
- Maintenance cost. The agreement should also specify the maintenance cost that should be taken by the landlord alone or the tenant alone.
- Rules to obey and practice. There should be information of what tenants can and can’t do.
- Security deposit.
- Provided amenities. Landlords should mention what amenities and equipment provided within the property.
- Notice and renewal period.
- Exit clause.
- Date and signature.
Conclusion
Landlords can always make use of the already provided template to create the ideal lease agreement for their needs. Being a landlord isn’t an easy task, so let the rental agreement templates ease off their burden a bit.
