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Standard Lease Agreement - Residential

Signing a lease has to be one of the most important steps in renting a property.

 

Yet, so many landlords neglect to take the steps necessary to protect themselves and their property. Ultimately, this can leave them with a financial burden and may force them to give up their rental investment.

 

Why is having a lease so important?

 

Very simply, it states the agreements between the owner and the tenant that must take place during the term of the lease. How much the rent is, when it is due, who is responsible for repairs and when will the security deposit be returned are just some of the items that need to be covered. The lease helps to set expectations for the tenants and answers a lot of questions that may come up during the rental term.

 

A leae agrement also regulates the legal rights and responsibilities of each contracting party and provides dispute resultion guidelines. 

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