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Louise Gray May 17, 2019 Lease Agreement

If you’re a landlord or property owner, your lease agreement is probably one of the most important documents you use. it is the legal agreement between you and each tenant that occupies the space you own, and therefore, it acts as the rules by which they live in that space as well as defining the repercussions should the rules be broken.

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Impose limits on occupancy: Be clear that the unit`s only legal residents are those adults whose names are on the lease agreement, plus any minor children. This gives you the right to evict any additional residents that you didn`t approve. Include a subletting clause that requires the tenant to obtain your written permission for someone else take over their lease agreement. (You can also forbid subletting altogether.)

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Include each tenant`s name: If a couple is renting your unit, both of their names should be on the lease agreement. Each tenant whose name is on the lease agreement can be held accountable for paying rent or violating the terms of your agreement. However, minor children are exceptions.

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Lease dates and termination – the start and end of the lease should be in the agreement as well as the description of how and when the landlord and tenant can end the lease. For example, an apartment lease may be terminated with one month’s notice and a final month’s rent.

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Pet details – the lease agreement should specify whether or not a tenant is allowed to have a pet. The limitations on number, size, and species should be listed as well. If there is an additional deposit required for a pet, that amount should be included in the lease agreement.

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Right to renew the lease – if the tenant has the right to renew the lease at the end of the lease agreement, those terms should be listed in the lease agreement. Ideally, a new lease agreement will be signed each time the tenant renews.

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