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What to include in a rental lease agreement

A rental lease agreement is a legal contract between the landlord and tenant. It states the terms under the lease they agree to rent out their property to be used by a third party. This is the most commonly used kind of. It defines how long you will stay, how much you must pay and the amount of notice you are required to give. To ensure that you do not lose your belongings due to eviction, damages by others or the property being taken over by a new owner you must always obtain an agreement in writing from your landlord before making the move.

A rental lease agreement is meant to protect both parties. The lease governs who gets to decide what they can do with the rental property and what amount each party is required to pay for its maintenance.

If you sign the lease for a rental, make sure you read carefully to ensure there aren’t any hidden charges or unclear language. Ask your landlord for clarification if you don’t understand something prior to signing.

There are three types of clauses that can be found in a rental agreement:

1.) Rent and the terms of payment

2) Termination, term and renewal

3) Damage deposit

4.) Utilities

Maintenance

Pay and Rent Terms This is the amount you must pay when it’s due, and whether you agree to pay any deposit.

The rental’s actual terms The length of your lease will last, its renewal terms, and if there are any choices or opportunities for early termination by either party.

Changes in ownership: This clause details what happens to your lease in the event that your landlord is planning to sell their house or building.

Damage deposit Deposit for damage: The amount you’ll need to pay upfront should damage occur on the property while you’re there; any deductions made out of the deposit must be noted in the contract.

Utilities If utilities are included in the rent or as an extra cost,

Maintenance: Are you in charge of certain tasks like landscaping and cleaning the pool? Do you have to be able to fix any problems or break, or is everything left to them?

Also, you should submit a copy to your local municipality of the rental agreement. This will establish that there an agreement for renting in place should you ever have to appear in court to establish it.

You should note the time duration for which the document needs to be recorded. Each town has its own rules about how long information such as this is kept on file. Be aware that in the event of major modifications made to your written rental lease, you may have to file a brand new one with the town.

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Make sure you keep a copy of your rental contract in a safe location. Also, make an inventory of the important points of your lease agreement and then update it over the course of your stay, so you are prepared in case something happens in the future, you’ll are able to back yourself up. If it’s possible, it’s an excellent idea to document the property and any damages that have occurred.

The document provides protection for both landlord and tenants. However your landlord may not always be open to talks. If you find that the situation is getting intense and your landlord agrees to modify certain conditions (such as raising rent rates or making changes to damages deposit amounts) note these items down in your updated list. The notes you make will help you remember the changes when you renew your lease or lease another property. It may also give you negotiation power.