Free Rent & Lease Template
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In most cases, a rental or lease agreement intends to transfer the right to the use of certain real estates, pay the rent charge and set forth other rights and obligations between the landlord and the tenant. A rent agreement is a contract with a short period, flexible provisions and rent payment month to month while a lease agreement provides a longer period, strict provisions, and more complicated payment. Therefore, signing a lease agreement is a better choice if a landlord or a tenant wants to establish a long and solid leasehold relationship. However, a rent agreement may be more useful if the two parties intend to renew the contract frequently.
FormXls can help you with:
A.General Rent and Lease Agreement Templates.
We offer you rental and lease agreements usually used for residence to meet people’s daily needs. In addition, we provide a sample lease agreement to introduce details of each important provision to help you have a better understanding and develop a lease agreement as needed.
B.Lease Agreement Attachments.
If you sign a lease agreement, you need some relevant attachments such as “Lease Application”, “Rental Receipt”, and “Lease Extension Agreement”. In this page, you will find different categories of relevant attachments covering almost all contract procedures.
C.Special Types of Lease Agreements.
The lease agreement can also be used in multiple purposes. But these special types of lease agreements are even more difficult to search than attachments. Special agreements such as Vehicle Lease Agreement, Booth Rental Agreement, and Pasture Lease Agreement are provided here to save your time.
How to use a template & lease agreement?
There is no one template meeting all requirements. You need to make some adjustments to a template, add or delete some provisions, to form your final agreement. Therefore, it is necessary to know some basics of specific provisions before modifying your agreement. Here are several most important matters the two parties need to consider carefully. We give a brief introduction to each matter and then discuss them in details in the FormXls SAMPLE LEASE AGREEMENT below.
The object of a contract, here, referring to the premises, is the first matter for the two parties to pay attention to. Both the lessor and the lessee should carefully weigh up the interests related to the object. Generally, the two parties to a lease agreement should think about the following issues. The lessor should state the ownership of premises in the lease agreement, which just intends to transfer the right to use of certain premises. All provisions concerning the ownership should be inspected one by one. In contrast, the lessee should focus more on provisions like Premises Conditions, Habitability and other provisions related to the right to use.
2) Payment & Term
It is necessary for the two parties to consider all types of payments in all procedures of the agreement. Rental, security deposit, and late fee are what landlord and tenant usually keep a watchful eye on. Actually, the matters on payment, which should be kept in mind, are usually the same: How much rent should I get/pay? What is the method of payment? What should I do to avoid the default? The Term, a decisive factor to distinguish lease types, refers to the duration of a contract. You should better sign a rent agreement with a short term, usually less than a month if you want a flexible contract. Otherwise, the lease agreement with a longer term, usually more than 6 months is a better choice.
After you finish basic clauses such as premises condition, rent, and term, another important practice is to think how to react once one party defaults. Any possible behaviors violating the agreement should be considered by the two parties. Here are two ways to express the relevant compensating way in the contract. First, you can add a particular provision to deal with a certain default. For example, the late fee mentioned above is a particular provision about how to compensate if a lessee doesn’t pay the rent on time. Second, setting Default Clause to clarify every breach of the agreement and explain the way of compensation.
Any clause related to the exemption should be inspected word by word, especially when you are not the provider of the agreement. Exemption clause can be seen as immunity of certain obligation or duty, which could be taken advantage of by the drafter to escape the punishment of default. However, it is also an effective way to make use of the exemption provision when the loss is caused by events beyond the control of the two parties such as earthquakes, typhoons and act of governments.
A Sample Basic Lease Agreement:
The term is the period of contract validity. Landlords prefer a long and fixed term while tenants are more likely to choose a flexible one. The two parties of a lease agreement shall comply with provisions strictly during the tenancy that is usually beyond 6 months.
Any agreement should have basic information of the object, here, referring to premises, involving address, furnishing, and appliance. Particularly, the landlord should clarify the use of premises and provide details of house condition to the tenant.
Rental is the core issue of a lease agreement. Both landlord and tenant should take a comprehensive consideration of rental, the pattern of payment, and payment schedule. Expenses on the road and other costs can be counted into the total amount of rent or are listed separately.
4) Late Fee
A landlord has the option of imposing an additional fee if a tenant doesn’t make a rental payment when it is due. This penalty, deriving from violation of the rental provision, can be also slipped into the part of Default.
5) Security Deposit
The security deposit is a fixed sum provided by a tenant and given into a landlord’s custody to secure the delivery possession. Landlords should return the security deposit if tenants completely comply with the provisions without any damages. However, any resulting damages incurred by tenants should be compensated through the security deposit.
Responsibilities of maintenance should be assigned between the two parties prior to the contract signing. The landlord can choose to maintain the premises themselves or appoint the tenant to take charge of it.
7) Lead-based Paint Disclosure
According to Lead-based Paint Disclosure Regulation, the landlord of a pre-1978 house should give tenants all known information of lead-based paint. People can be poisoned by paint containing lead equal to or exceeding 1.0 mg/cm2 or 0.5% by weight.
It is difficult for most people to make exactly reasonable and legitimate provisions, some of which may violate state law and shall be deemed as void from the very beginning. If the effect of invalidation extends to other provisions or is taken advantage of by malicious people to claim the contract invalid, it is a disservice to the purpose of the contract and detrimental to protect the parties’ interests.
While landlords provide information of the house condition and lead-based paint disclosure, tenants should also make a statement of habitability as the reply to define clear rights and obligations between landlords and tenants before the delivery of this lease agreement.
Default refers to the failure to fulfill obligations ruled in provisions of the agreement. When it comes to the tenant defaults, landlords can withdraw the security deposit first to make up for the loss or terminate the agreement when the security deposit is not enough to cover all expenses on recovering. Tenants have the same right to terminate the contract.
Tenants should verify the integrity of premises ownership. Any mortgages on premises before the contract signing will limit tenants’ right to the use of the house.
The provisions mentioned above are those commonly and necessarily ruled in most lease agreements. Landlords and tenants can add provisions as needed. In miscellaneous parts, there are usually a series of details that landlords or tenants may request.