Carl Glendon

Types of Rental Property Lease Agreements

A property rental agreement is a legally binding document that mentions that a property has been obtained on rent by a tenant from a landlord. Such a document is usually signed for long term, and lasts for some months or years based on the terms and conditions mutually agreed between the landlord and the tenant. These templates are of various types, depending on whether the property is commercial or residential. Know about the two main types of rental property agreements.

Commercial property rental agreements

Commercial leases are usually of a longer duration than a residential lease, and can list down a number of individuals such as:

• Landlords

• Tenants

• Investors

• Anyone having a stake in the property

It is also essential that every referential term in the agreement must be spelt with clarity, so that they are less susceptible to property disputes. You can find these types of rental agreement forms free on many websites on the internet. If you have a specific requirement as a landlord, you must edit an online form before taking a printout.

Residential property rental agreements

This is a simple lease agreement. Such types of contracts are simpler in form that commercial agreements. Residential agreements do not include the mention of multiple stakeholders, unlike what the case is with a commercial property. Thus, these are less dispute-prone, given that fewer people are involved in the agreement. Also, the terms and conditions are sorted out with clarity initially at the time of agreement. You can find residential lease agreement templates online and may download and customize these according to your own requirement. For more information about getting a lease contract template, please visit this website.

Whether it comes to a residential or a commercial property, it is essential that you look for the most appropriate type of lease agreement template. It can make sure that the property is in the best hands, and well cared for. To learn more about drafting a PA rental agreement online, visit this website.

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. Please visit this site to get a sample rental lease agreement in Maryland.