Landlord Residential Lease Agreement

April 21, 2008 in Landlord
Tags: Lease Premises, Residential Lease, Security Deposit

A Residential Lease Agreement is necessary when a Landlord rent out property, because a Court will not enforce an agreement regarding property without writing. Renting a home or apartment is not easy as money exchanged. It should be used to notify a Tenant of all of the terms and condition.

One of the most common residential lease agreement forms are called month-to-month rental agreements, these are for short-term or indefinite leases. The other most common for tenants who will be staying long-term for many years, called just Lease Agreement, this a much more comprehensive contract.

Few years back the residential lease agreements where only prepared by real estate agents and lawyers. For long period of time they enjoyed charging us a hefty fee. Now the time will be changed and lots of facility provided by the government like internet. Just go to the websites like LegalFormsBank.Biz came forth with editable, downloadable, and printable versions of the document you could file yourself. Tenants and landlords go through the site downloading the form which caused sort of a revolution, a victory for the landlord, free from the strangle of real estate agents and lawyers grip in their pockets. Now days you just log onto one of the major legal document providers, and download an up-to-date form specifically for your local government and state.

Important provisions included in this form:

•    Lease Premises and terms of lease: Identifies the property, and the extent of use of the property.
•    Rent payments, Late Fees: Sets out the amount of rent, when it is to be paid, and any penalties for late payment.
•    Security Deposit: Provide for the amount of security deposit, and the conditions upon which it will be returned.
•    Quiet Enjoyment: Promise that tenant may peaceably and quietly enjoy the premises.
•    Assignment and Subletting: Defines conditions of assignment and subletting of property.

One last note for landlords and some information tenants should be aware of. If the dwelling was built prior to 1978, your lease agreement will need a Lead Based Disclosure statement required under the Federal Lead Disclosure Act. Landlords also need to provide EPA certified information regarding lead based paint controlling and identifying them.