What is a residential lease agreement? It’s an agreement that connects the landlord and tenant to ensure a smooth lease contract. A landlord desires an adequate cash flow and safety of property from the tenant. Whereas the tenant looks for the property which fulfills his/her expectations.
The rental agreement is important as it contains all the necessary terms & conditions. Both the parties are well-aware in advance about the things to do and vice-versa. An effective agreement makes owners and tenants happy, so seeking professional help before making an agreement is crucial. In short, have the residential lease free printable basic rental agreement including important provisions.
What Information is Prominent for Rental Agreement?
The information which makes the relation of tenant & landlord smooth should be mentioned in the agreement. Ensure to highlight all the rights & responsibilities of the owner and tenant.
Let’s know the pieces of information stated in the agreement:
➤All of the Renters’ Names
Many issues have been raised when the landlord doesn’t know the number of occupants living. Every individual name should be in the paper that makes them official tenants. Moreover, can add the occupancy clause to the legal paper. The document highlights the maximum number of tenants living at the owner’s property.
➤Ensure 1 Year Term of Residency
The term of residency depends on the property owner. Well, the term should be a minimum of 1 year to ensure a good return on investment. The landlord can mention the penalty the tenant will bear for breaching the tenure period. This clause is a sensitive provision that can have adjustments.
Once the tenure period is over, the legal document is renewed automatically if a tenant wants to stay long-term and the landlord doesn’t have any issues. Look for the free printable rental agreement that contains the start date, rental length, and expiration date for the sounding contract.
➤Include All Fees
Property investment is considered one of the profitable investments. One invests in having money that makes it investment-worthy. The agreement should hold all information about fees & deposits. It’s the landlord’s responsibility to provide the exact amount of the security deposit and mention how the deposits will be beneficial for tenants (like- repairing damages, covering unpaid-rents, etc.).
The legal document even shows the date & method of the returned security deposit and clarifies the non-refundable fees. Any business work on the grounds of transparency, so the information should be complete to prevent chaos & frauds.
➤A Time Period to Review the Lease Agreement
Occupants have full right to properly review the lease agreement before signing. It makes the tenant prepare mentally and financially before finalizing to reside at the landlord’s house. Ensure to give time to the tenant to go through the document and may request for some changes.
The above pointers are ideal for making the contract honest & complete. One can make the lease agreement with the assistance of an expert and without making payment. Look for the free printable basic rental agreement, California that suits your property needs.