-When entering into any type of rental situation, it’s important that you have a Rental Agreement in writing that outlines the rights and responsibilities of each party. Whether you are a property owner/manager (Landlord), or someone who wishes to rent a property to live in (Tenant), a written Lease Agreement signed by both parties is a MUST.
Verbal agreements are easily forgotten or mis-remembered, and impossible to enforce. A written Lease Agreement is a legal contract that details the Landlord-Tenant relationship and clearly specifies the rules and conditions for the rental, so that both sides understand their obligations in order to lessen or avoid any misunderstandings or disagreements in the future.
A Residential Lease Agreement applies to various living space and arrangements including:
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House, Apartment, Condo
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Townhouse, Duplex
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Mobile Home, Trailer
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Room, Basement, Attic
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Guest House, In-Law Suite
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Vacation Rental
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If the rental is a place of business, it requires a different type of Lease Agreement. Use our Commercial Lease Contract.
A Lease is usually prepared by the Landlord, but can also be prepared by the Tenant. Our free Rental Agreement template makes it easy.
What is Included in a Residential Lease?
A Basic Residential Lease Agreement form includes the following information:
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Names and contact info of Landlord and Tenant
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Address and type of property being rented
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Whether the property is furnished or unfurnished
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Start and end dates of the Lease
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Amount of rent and when it is due
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Any fees charged if rent is late or for missing a rent payment
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If the rent can be increased
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Deposits paid (security/damage deposit, pet deposit, etc.)
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Does Tenant have option to renew lease or to purchase property (rent-to-own)?
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A Residential Lease Agreement may also include information about the following:
Utilities and Upkeep
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Who will pay for electric, water, gas, garbage, cable TV/Wi-Fi, lawn care, etc.
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Who is responsible for maintenance and repairs to the property
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Policies and Permissions
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Alterations to the property such as hanging pictures, painting walls, gardening, outdoor décor, etc.
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Pet policies
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Rules for use of common areas: pool, clubhouse, fitness center, etc.
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Storage areas
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Guest policies
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Parking instructions
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Noise policy
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Any fines related to breaking policies/rules
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Access
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Number of keys given to Tenant and fees for lost/additional keys
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Landlord’s right to entry with advance notice
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Create a Residential Lease easily at Forms.Legal. Download a Free Rental Agreement template or Lease Agreement template for any state in the U.S. from our website now!