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Download simple lease agreement in PDF format.
Protect Yourself with a Simple Lease Agreement
Are you a new landlord in search of a template or basic information which must be included in a simple lease agreement? Do you know what a simple lease agreement is used for? In this article we will provide the basics with regard to the simple lease agreement and highlight some of the information that every simple lease agreement should contain.
What is a Simple Lease Agreement?
Simply put, a simple lease agreement is an agreement between the renter of a given property and the property owner, also referred to as the landlord. This agreement is a contractual and legally binding document which lays out the terms of the lease agreement between the two parties and can be used in court if one or the other parties should breach the contract.
What Should Be Included in a Simple Lease Agreement?
Whether you plan to construct your own simple lease agreement or download one of the thousands of simple lease agreement templates available online, there are several items which must be present in each agreement. Some of these include:
• Names and contact information for each person involved. Whether you are renting to one person or several, it’s important that each name—including your own—is clearly written in the agreement, along with the contact information for each party.
• Signatures and Dates. No simple lease agreement is valid if not signed and dated by each party. The space for these signatures and dates can appear anywhere in the agreement, but is usually placed at the bottom of the document, allowing each party to read through the terms of the lease in its entirety before signing.
• Duration. Some landlords rent their properties out on a month-by-month basis, while others require certain durations such as 6 months or a year. Regardless of the duration, however, it must clearly be stated on the document, along with the penalty for early termination of the lease.
• Monthly Rent. The amount of the monthly rent and the due date for said rent must be clearly stated in the simple lease agreement. It is also a good idea to list any penalties or late fees if the rent is not paid on time.
• Responsibilities. Within every simple lease agreement there should be some language explaining what each party is responsible for. This could include things such as repairs, lawn care and pest control, along with who will pay for damages in the event they occur.
• Stipulations. In this section, the landlord usually underscores what the property can and cannot be used for. For example, many landlords prohibit renters from using their property for business purposes. In any event, stipulations should be clearly understood by both parties.
A simple lease agreement is a valuable document, in that it protects both renter and landlord in the event of a dispute. These agreements are easy to construct and for legal reasons, should ALWAYS be part of any rental or lease agreement.