What is a Rental Agreement Template?
A rental agreement template is a written document that recognizes a legally binding relationship between two parties, an owner of real estate and someone else that is willing to pay rent while using the property.
The real estate owner can be called as Lessor or landlord, while someone who is occupying the property can be called as Lessee or tenant.
Rental Agreement Template
A rental agreement can also be referred by other names such as;
-House Rental Agreement.
-Rental Form, etc.
Rental Agreement Format
What a Standard Rental Agreement template Should Contain?
A Standard rental agreement template should clearly state some basic elements, such as;
-Premises, like a house or apartment.
-Owner of the property AKA Lessor or Landlord.
-The renter who wants to occupy the property AKA Lessee or Tenant.
-The amount of rent money.
-The length of the time or period a lessee has the right to occupy the premises.
Room Rental Agreement Template PDF
Terms & Conditions which Lessor & Lessee may agree in a standard rental agreement.
Below are some example terms & conditions on which Lessor & Lessee may agree in a standard rental agreement:
The Lessor promises to:
– Repair & maintenance of appliances.
– The Lessor should not make any surprise visit (Respect the Lessee’s privacy).
– The Lessor should provide a safe & clean property to the Lessee.
– Return the Lessee’s deposit, as stated in the rental agreement.
– The Lessor should inform the Lessee in advance if the Lessor wants to fix something or show the property to someone else.
Rental Agreement Template Word DOC
The Lessee promises to:
– The Lessee should pay the agreed amount of money on time stated in the rental agreement.
– The Lessee should live in the property with immediate family members.
– The Lessee should get permission from the Lessor if they want to have a pet like a dog or a cat etc.
– The Lessee shouldn’t misuse the property.
A rental agreement should clearly state what would happen if Lessor or lesse break their promises to each other.
When do you need a Rental Agreement template?
When a formal relationship between two parties, the law state that both the Lessor and Lessee have some right and obligations. A rental agreement is a valuable tool for both Lessor and lesse when Lessor gives his property to someone else or when a lessee occupy the property on rent, as a rental agreement between both parties protects both of them.
Free Rental Agreement Template
Verbal (word of mouth) & Written Rental Agreement:
In case of any fraud from either party, verbal or spoken rental agreement cannot enforce in court & it cannot capture important details over time.
While the written rental agreement serves as a constant reminder to both the parties and the court about what everyone agreed to at the beginning of the agreement incase of any fraud from either party.
How helpful can be a written rental agreement?
A written rental agreement can solve many problems for both Lessor and Lessee, such as;
– Rent amount which is due.
– Unpaid utility bills.
– Property damage.
– Expensive lawyer fee incases of any fraud.
– Prohibited or illegal activities risk.
– Property damage
– Expensive lawyer fee.
– Personal safety.
– Fear of landlord
– Unpermitted use penalties.
What should a Standard Rental Agreement Contain?
A standard rental agreement should clearly state some basic elements, such as;
– Date of the rent agreement.
– Names and other information about both parties.
– Information about the premises.
– Details about the period (when the rent begins and ends).
– Terms and conditions for both the parties
– Information about rent & security deposit.
– Signature of both parties.
What’s next when both the parties are finally done negotiating?
Once both the parties are finished negotiating and discussing the details, they should :
– Print two copies of the rental agreement (one copy for each party).
– Both parties sign the rent agreement and date the agreement.
– File a hard copy of the signed document in a safe place and scan a soft copy and save it in Google drive.
If you want to occupy someone’s property on a rent basis like a house for your living, apartment or office etc., you are a lessee or tenant. You should prepare a legally acceptable written rent agreement with the property owner. As it is necessary for your safety and can be very helpful in case of any fraud in the future.
While if you are an owner and want to give your property to someone who is willing to pay rent, you should also make an agreement with the other party, state your terms and conditions clearly in the rental agreement and get it signed by yourself and the Lessee, as it will protect you in case of any misuse of your property by the Lessee.
A written rent agreement serves as a legally acceptable tool to both the parties, and if any party breaks their promises, which are stated in the Rental Agreement Template, the other party can file a case in the court against them using this rental agreement.