Residential Rental Agreement - Lease Agreement
A Residential Rental Agreement or Lease Agreement sets down terms, rules and obligations between all of the parties involved.
Keep in mind that any stipulation, rules or terms that both parties agree upon is valid and may be included within the agreement as long as the stipulations are lawful and the intent is to form a legally binding relationship.
There are two common types of agreements: a lease and a month-to-month tenancy.
Lease Agreement: restricts both parties from changing any of the terms during the entire lease period and must be in writing to be legal enforceable. It is a common practice for a lease period to be 1 year or more.
Some of the essential elements of the agreement should be the property address, start and termination dates and the signatures of all parties involved.
Month-to-Month Tenancy Agreement: is for an indefinite period of time, with rent usually payable on a monthly basis. The month-to-month tenancy agreement may be made orally or in writing. However, if fees or refundable deposits are involved, save yourself a lot of anguish by executing a written document.
Our Official Forms provide the legal language for either type of document, lease or month-to-month agreement. You don’t have to know all the rules, because we’re here to help you!
If you don’t understand all that legal language - -
You are not alone !
Whether you’re a landlord, tenant or soon to be one, the language of most rental or lease documents can be complicated and confusing. Unfortunately, most of us cannot afford to hire an attorney to prepare our agreements and contracts.
There really are no laws governing the exact wording of this type of document or agreement, however, unless you know and understand contract law or are willing to spend many hours researching the subject and proper language, it would be very hard to create any kind of legal form and be sure you will not be in trouble later.