Residential lease agreement stands firm on the platform created by a legal contract between a tenant and a landlord with respect to the lease of a building premise or a part of it for strictly residential purpose. Since it is almost like a business deal, the agreement necessitates the formulation as well as the adherence of certain rules either created by the landlord or preset by the court of law. Residential lease templates are programmed formats that are found in the web which serve as means of huge support in these cases. As an alternative option, legal advisors may be approached with the request of creating a residential lease document. This article establishes the essential information pertaining to the lease structure and functions and gives the disjointed facts of the agreement a concrete and meaningful legal pattern.
Thus, residential lease is a documented or implied agreement which may be short term or long term in nature. The lease document is bound to enclose certain details besides the legal terms and it must be agreed upon by both the parties before being sealed off. The details and their respective advantages are as follows:
- The specific demarcations of the usable property must be made right in the prescribed part of the lease so that the tenant knows exactly which part of the apartment is prohibited from use.
- The purpose of leasing the property has to be articulated in the document as landlords can sue their tenants for using the grounds for a purpose diverse from the stated one. This indirectly lays the fact that the tenant is not allowed to deviate from the mentioned purpose which is housing in this context.
- The inventory of the furniture and articles provided along with the leased ground has to be furnished in the agreement as a record with both parties.
- The recitals of the agreement has to be given in an elaborate manner regarding the duration of tenancy, rentals to be paid and legal implications of contravention to keep the content precise and obvious.
- The document must bear a short conclusion of the whole deal along with the proviso regarding abidance of the terms so that the crux of the matter can be observed without having to read all the lines.
- The laws binding the termination of the lease have to be written down so that the tenant is aware of the termination based formalities.