When it comes to renting out a property, having a basic rental agreement in place is essential for both the landlord and the tenant. A rental agreement, also known as a lease agreement, outlines the terms and conditions of the rental agreement, including the amount of rent, the length of the lease, and any rules or restrictions that apply.
Here`s a basic rental agreement example to help get you started:
Rental Agreement between [Landlord Name] (hereafter known as “Landlord”) and [Tenant Name] (hereafter known as “Tenant”) for [Property Address]:
1. Term: The lease will begin on [Start Date] and end on [End Date], unless extended by mutual agreement.
2. Rent: The Tenant agrees to pay rent in the amount of [Rent Amount] per month. Rent is due on the [Due Date] of each month and must be paid in full to the Landlord.
3. Security Deposit: The Tenant agrees to pay a security deposit in the amount of [Security Deposit Amount] to be held by the Landlord for the duration of the lease. This deposit will be returned to the Tenant at the end of the lease, provided there is no damage to the property beyond normal wear and tear.
4. Use of Premises: The Tenant agrees to use the rental property solely for residential purposes and will not use it for any unlawful or illegal activities.
5. Utilities: The Tenant is responsible for paying all utilities, including but not limited to, electricity, gas, water, and trash removal.
6. Maintenance and Repairs: The Tenant agrees to keep the rental property in a clean and orderly condition and to immediately report any damage or necessary repairs to the Landlord. The Landlord is responsible for maintaining the property and making any necessary repairs, except for damage caused by the Tenant.
7. Pets: The Tenant agrees to [Allow or Not Allow] pets on the rental property. If pets are allowed, the Tenant agrees to pay a [Pet Deposit/Pet Rent] in the amount of [Pet Deposit/Pet Rent Amount].
8. Termination: Either party may terminate this lease agreement with [Notice Period] days` written notice.
9. Governing Law: This rental agreement will be governed by the laws of [State], and any legal disputes will be settled in the courts of [County].
This basic rental agreement example can be customized to fit the specific needs of your rental property. It is important to have a clear and comprehensive rental agreement in place to protect the rights and obligations of both the landlord and the tenant.