The renting of houses has increased at a steady rate owing to the fact that there have been lot of prevalent issues with housing and unemployment. More and more people are getting into renting of homes including those that are getting employed.
If you are a landlord, a landlady or the owner of a property, you have noted that one of the most important documents on lease terms is the lease agreement. A lease agreement contains a number of well outlined terms and conditions that are supposed to be followed by a tenant and also shows the repercussions of acting against the terms and conditions. The rental agreement provides the ground to enforce law and order on a rental property and it seeks to protect the tenant, the property and the owner of the property. A good lease agreement should contain a number of terms and conditions as listed below.
It is necessary that a good rental agreement should have the indications of the people that are bound by the leasing contract. A well done and drafted lease contract should contain a good description of the building under lease. In order for the rental contract to be enforced, the building under the agreement should be well defined with an indication of details such as the address and the number of apartments in the building. There should be indications of what is expected and what is not expected when renting out the property. The lease agreement should contain details on the rent amount as well as the day that the rent needs to be forwarded to the agent or the owner of the property. Additional information such as where the tent is supposed to be sent, the form of payment required and the terms of late rent payment should also be indicated.
There need to be dates indicating the commencement and the end of the rental period. There also has to be a detailed showing when and the manner in which both the owner of the property and the tenant can end the rental agreement. When it comes to drafting a lease agreement you should not forget to indicate the details of the security deposit such as text amount to be paid as security deposit, the manner through which it should be paid and how it can be released to the tenant in the future. The lease agreement should also show the number and names of the person that occupy the building and the consequences of over staying in the building. Another important thing that you should describe in the lease agreement is whether the tenants are allowed to keep pets within the property. Ensure that the lease agreement has specific details of the number, size and nature of the pets to be kept as well as any payment for the pets.