General Lease Agreement
Deciding to rent something out for an extended period of time is a commitment for both the buyer and the seller.
This is why there are countless documents like lease agreements and rental arrangements, but sorting out the details between them is difficult for those who don’t have a legal background or any experience.
Whether you’re looking to rent out a property or a vehicle, an agreement needs to be made that outlines the details of the arrangement. This is typically known as a lease agreement , and over the course of this guide, we’re going to cover the basic details that you should know about these agreements.
What is a Lease Agreement?
A lease agreement template is a document template that includes all of the usual verbiage that is required in a lease agreement [link to lease agreement main page here] but leaves you spots where you can input the details of your particular agreement. This means that you don’t have to formulate the agreement yourself or get a professional to do it for you.
There are a few details that are required in a lease that you’ll have to fill in yourself because they will vary from property to property. The most obvious one is the monthly rent amount, which will depend on the property itself as well as whether or not there are any seasonal factors affecting the cost of the rent.
A lease template should also include blank spots for any fees that may be involved for taking out the trash, parking, or having a pet on the property. Dates will also be required to determine when the lease begins (i.e. when the tenant can move in) and when the lease comes to an end.
There will be another blank space for the security deposit, which is negotiated between the landlord and the tenant. Keep in mind that every state has a limit for security deposits, so be sure that you know the maximum amount that your landlord can charge you for your deposit depending on where you live.
Finally, the lease will also detail what kind of term you have, which will affect whether you pay monthly or annually, and it should also outline who pays for utilities. If the tenant pays for utilities, the lease will need to mention how much they’re paying for each of the utilities.
One of the main advantages to using a lease agreement template is that you don’t have to hire lawyers to come up with the lease. This can save you quite a bit of money, but a major downside is that you may have to get the template reviewed by a lawyer regardless to ensure that it’s legally binding.
The last thing that you want is for your tenant to break a lease agreement and then it doesn’t hold up as valid in court because you used the wrong lease template. Keep in mind that there are a few ways that you can tell if a lease agreement template is genuine, including whether or not it contains typos.
Popular Types of Lease Agreement Templates
Here are some of the most commonly used lease templates that you can use at your own convenience.
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