Carl Glendon

3 Tenancy Terms In A Lease Agreement For Rental Property

Renting a property, such as an apartment, condo or house, is an easy way to make some passive income. A Lease agreement for rental property acts as a foundation for the landlord-tenant relationship. This type of contract defines all the T&C that both parties agree on. Legal issues and disputes may be prevented by introducing all the conditions into this agreement. Find out about 3 top tenancy terms that are included in this type of agreement.

Names of tenants

The term 'tenant' can refer to any adult who is supposed to stay in a rental property. Tenants need to sign the home rental lease agreement templates, which can make every individual tenant who is responsible for each agreed term in the lease, such as the proper usage of the property, rent liability etc. Property owners can then get the legal right to acquire the whole amount of rent that is due from any tenant, if the others are unable to pay. In case of violation of occupancy terms by any tenant, the tenancy of the other signatories can also be terminated.

Limitation on occupancy

A standard residential lease agreement needs to mention categorically that residency is restricted only to tenants who have signed the document already. This kind of specification ensures that owners have the right to decide who can stay within the property, and also specify any limit on how many occupants can be there. Please visit this website for more info about sample rental agreement.

Term of tenancy

A landlord tenant lease agreement template needs to declare whether it is a fixed-term or a rental agreement. Fixed-term agreements are usually annual in type, and are based on the tenancy duration allowed by the landlord as well as the amount of flexibility he will allow in the contract. Generally, rental agreements are verbal contracts that renew themselves unless the agreement is terminated by either the landlord or the tenant.

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 free legal contracts blog. For more information about a free lease agreement in Florida, please visit this website.