There are many reasons that a landlord might need to prepare a landlord lease agreement. A lease can be drafted to protect the rights of both the landlord and the tenants, to protect the belongings, to protect the interests of both parties, and to protect both parties from the other party. There is no set format that all leases follow, though. As a landlord, you should keep in mind that a lease is not just a contract between you and your tenant, but rather is a contract between you and both the tenant and other parties involved.
The most common form of lease is an oral lease. This is a written document, often with an expiration date and payment terms. The tenant pays all rent on a regular basis and in some cases, the property owner keeps the security deposit. At the end of each term, the tenant either signs a new lease, or chooses to renew the existing lease with an additional payment date. Either way, this type of lease will only be valid if both the tenant and landlord are willing to abide by the terms of the lease.
Alabama Residential Lease Agreement New Best Sample Lease Agreement from example of landlord lease agreement, source: lfp-goods.com
The written lease is the easiest to draft. It does not have an expiration date, and therefore, it does not have to be reviewed in detail before it is signed. However, there are some important items that need to be addressed. Here is an example of a landlord lease:
The first sentence states clearly that the tenant has a lease and any failure to follow the lease can result in eviction. The lease also provides that any payment obligations, including payment penalties and interest, will become due upon the termination of the lease.
Tenancy Agreement Template Letter to Tenant Luxury How Write A from example of landlord lease agreement, source: vinhome-vinpearl.net
Next, the lease will state that the landlord has the right to enter the tenant’s dwelling to inspect or clean it if necessary. The landlord can request the tenant to leave their property for one hour prior to the inspection or cleaning. The landlord is also entitled to enter the tenant’s personal property during the one hour of observation if necessary. The landlord may make any repairs necessary to the property. If the landlord finds that the tenant is in default of the lease, they may then require the tenant to leave and can then send the tenant a notice.
The next section of the lease details the tenant’s obligations regarding the property. The lease states the terms and conditions for removing any fixtures or equipment from the property at any time. The lease also includes provisions for the tenant’s duties when the property is not in use, such as the duty to maintain the lawn and garden. These duties include mowing the property, keeping it free of debris, and maintaining sidewalks. The last section of the lease explains how long the property will remain a rental property and sets the tenant’s responsibilities to the property.
30 Elegant Room Tenancy Agreement Template Advitiyatrade Template Site from example of landlord lease agreement, source: advitiyatrade.com
The last part of the agreement explains what the tenant must do if the landlord fails to pay rent. The tenant must attempt to contact the property owner to pay the rent, and may then take legal action against the property owner to get the money owed. Failure to pay the rent may cause the tenant to stop paying the property owner, and in the event that the property owner does not pay, the tenant has the right to foreclose the property and sell it. If the property is purchased and is not taken care of in a timely manner, the tenant may be in danger of losing the home.
If the tenant fails to abide by the lease terms, the lease can be terminated and the property sold at the sheriff sale for the price agreed upon in the contract. This is a good way to avoid problems with landlords who are known for late payments. In order to avoid any unexpected circumstances, make sure you discuss the lease with a lawyer prior to signing any documents. Make sure you understand all of the terms of your lease and don’t sign anything until you have thoroughly reviewed them.
Rental Lease Agreement Template Free Tenancy Agreement Template Nz from example of landlord lease agreement, source: cod4source.com
Contract Agreement Template Used Car Sales Agreement Template from example of landlord lease agreement, source: templateideas.co