Marilyn Ries May 11, 2019 Lease Agreement
Every lease is a contract, and as such will name the people who have entered into the contract and are legally bound by it. That should be your landlord, yourself, and any roommates you might have. Anyone whose name doesn`t appear on the document isn`t legally liable for rent; if you take on a new roommate after the lease has been signed, you may want to ask the landlord to issue a new one. If not, you`re the one who`s liable when they don`t pay their share of the rent.
The lease agreement provides renters and landlords with a legally enforceable contract and it’s important that this document have the necessary elements to provide security to both renter and landlord. A good lease agreement protects your interests and prevents misunderstandings that could potentially lead to litigation.
While many essential and optional lease terms are included in pre-printed, standardized lease forms, those terms may or may not fit your needs as a property owner. It’s important to note, however, that standardized agreements don’t always fit the situation and they may or may not be customized to meet your state and local requirements. When you have questions or want to customize a lease agreement, working with a qualified real estate lawyer is the best way to get the best lease agreement – one you and your tenants can live with comfortably.
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.
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.
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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