Friday, August 29, 2014

How to Write an Apartment Rental Contract


Apartment rental terms must be fully understood by landlord and tenant through use of a written lease agreement.
Apartment rental terms must be fully understood by landlord and tenant through use of a written lease agreement.
When a landlord and tenant agree on the rental of an apartment, the landlord must prepare a contract, known as a lease agreement, that sets out the terms of the rental. Several important points must be included in the lease to protect both parties in the event of any disagreements or issues that come up in the future. The more detailed the lease, the more terms that will be understood by both parties, and the less likely is the chance for misunderstandings or litigation of any kind.

1

Identify the landlord and all tenants at the top of the contract, as well as the rental address and contact information for the landlord: address, phone and, if possible, email. The lessor is the party granting the lease, or landlord; the lessee is the party renting the property.

2

Head the next section "Rent." List the beginning and ending dates of the rental, the amount of the monthly rent and the address where the rent is to be paid. Give the deadline at the beginning of each month for payment of rent and any penalty that will be levied for late payment. Also give the penalty for any returned checks.

3

Start another section headed "Security Deposit." Give the amount of the deposit and the circumstances under which the deposit will be charged and held by the landlord. Give the period of time within which the landlord must return the deposit at the end of the lease on the tenant's meeting all the obligations of the lease. This is also the section for listing terms of a separate pet deposit.

4

Head the next section "Utilities." List the utilities for which landlord and tenant are each liable for payment. Most leases have language releasing the landlord from any liability due to faulty operation or installation of utilities such as phone, cable, electricity and gas fixtures on the part of the tenant.

5

Start a new section entitled "Condition of Premises." The landlord warrants and the tenant agrees that the premises are in good condition at the start of the lease term. The lessee is obligated to report any damages or needed repairs to the landlord promptly and, in some cases, in writing. The lessee is also responsible for ordinary upkeep and maintenance of the property.

6

Begin the next section "Access." This section explains that the landlord shall have access to the property in order to make inspections or carry out repairs. The landlord also normally has access, with advance notice, to the property in order to show it to prospective future tenants.

7

Title the next section "Liability and Insurance." The lessee agrees to hold the landlord harmless for any damages or injury resulting from an accident, from normal use of the property, or from a repair for which the tenant did not notify the landlord, as well as to indemnify the landlord against all claims of guests or visitors arising from the same circumstances.

8

Additional sections can be added describing the move-out policy; any local ordinances relevant to rental and activity by the lessee and his or her guests; default and eviction policies; eminent domain; fire insurance; abandonment of personal property; storage facilities; parking facilities; subletting policies; and conditions of tenancy in such matters as smoking, use of drugs or possession of firearms.

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