Carl Glendon

The Provisions To Enforce The Rent-To-Own Home Agreements Legally

You must have heard a lot about lease agreements, but the rent-to-own lease agreement might sound new. Well, this type of agreement collectively gives the landlord and the tenant the flexibility to design a purchase option in the event the tenant eventually wants to buy the property. But before you go ahead to sign such a home rent agreement, you should understand the key provisions and considerations of the agreement.

Severability

The most important thing to keep in mind by both the parties is that of severing the agreement. The agreement should be legally binding for both the landlord and the tenant, as without this, the judge may nullify the lease completely for any sort of big or small illegal problem found. Thus, before the agreement goes into effect, make sure to hire a lawyer and get the document assessed and scrutinized.

Details about fees and allocation

You need to be very clear that the details about fees and allocation are present in the agreement. In case the tenant is late with payments, this provision will get you covered. Also, the lease agreement should include transfer of the rent to the actual cost of the home. These things must be decided prior, as changing them later can be tricky.

Sub-leasing

During certain instances, the tenant might be unable to reside in the property. Sub-leasing is a provision by which the tenant can use the agreement to let someone else live in the property during his absence. Thus, subletting a portion of the property to another person can increase the income of the tenant and also help him deal with his unavailability.

The joint and several liability clause

The joint and several liability clause is helpful for landlords to hold the tenant or more than one tenant responsible for any sort of damage to the property. Thus makes each tenant both individually and jointly accountable for any damage that they have caused.

The provision by default

This provision protects the interests of both the parties to back out from the agreement if things don't work out smoothly. For instance, if the tenant doesn't act according to the agreement, the landlord can cancel the agreement immediately. For more information about getting a free lease agreement forms to print, please visit this website.

Enforceability

To make sure that the agreement is enforced, it is important for both the parties to hire a professional lawyer who would review all provisions to increase the possibility of enforceability in the courts.

Thus, if you are a landlord, get a free printable lease agreement form, get it filled up and signed by both parties.

Author Resource:-

Carl writes often about legal drafting, rental lease agreement, marital separation agreement and help the people in such needs. You can find his thoughts at legal forms library blog. To learn more about drafting a Texas rental lease agreement online, visit this website.