A rental lease agreement is a contract between a tenant and a landlord that outlines the terms and conditions of a rental arrangement. It is a legally binding document that typically outlines the length of the rental agreement, the amount of rent due each month, any restrictions on the use of the rental property, the rights of both the tenant and the landlord, and any rules or regulations that must be followed. It also typically outlines the consequences of any violation of the lease agreement.
Here are some steps to follow in order to draft a rental lease agreement for your property:
Gather information:
Before drafting your lease agreement, collect all the necessary details about your tenant. This includes things like the tenant’s name and contact information.Determine the length of the lease:
The length of a rental lease should be clearly stated in the document. Decide how long the lease will last and include this information in the lease.Set the rent:
The rent should be clearly stated in the lease agreement. Include the amount of rent being charged, when it is due, and how it should be paid.Outline other charges:
Include any additional fees for late payments, returned checks, or any other charges associated with the rental.Include details about the property:
This should include a description of the property, including the address, the type of dwelling, number of bedrooms, and any other features.Include rules and regulations:
Include any rules and regulations that the tenant must follow while living in the rental property.List repair and maintenance responsibilities:
Include details about who is responsible for repairs or maintenance on the property.Include a security deposit clause:
Include information about the security deposit that is to be paid, when it is due, and how it will be returned.Include provisions for the end of the lease:
Include information about what the tenant must do when the lease is ending.Get signatures from all parties:
Make sure that both the landlord and tenant sign the lease agreement. The signatures should be dated and witnessed. Have the lease agreement notarized if necessary.
Once the lease is written, review and revise it to ensure it is legally binding. You may need to consult with an attorney to make sure all the language is correct and that the lease is legally sound.
Make sure to keep a copy of the signed lease for your records. By following these steps, you can draft a rental lease agreement for your property. This will protect both you and the tenant and ensure that both parties are aware of their rights and obligations.
You can use a template or create your own lease agreement. You can create downloadable leases for your tenants at My e-Property Manager for free. You can edit, renew, terminate early, or void the lease after saving it. Just set up the rent, security deposit and late fee in the lease once and have real-time and printable invoices always reflect the lease. You can make your free online account at My e-Property Manager and start creating actionable leases for your tenants.
Start your free trial now!