Important lease terms to include

On Behalf of | Jan 11, 2019 | residential leasing | 0 comments

Knowing what terms should be included in a lease is important because a lease forms the basis for the relationship between a property owner and renters and represents the agreement between the parties. Lease terms are important because they protect both tenants and landlords so each party should understand the different lease terms that should be included in a lease.

To begin with, a complete list of all the adults who will be residing in the property is important to include. By including all of the adults in the household on the lease, each is responsible for the rental amount due. Along those lines, the amount of rent that is due and when it is due is, of course, essential to include in the lease document. In addition, the lease term should also be included in the lease document. There are technical components that may apply when defining the lease term so it is helpful to know the laws in the state where the lease is being executed.

Any deposits and fees that are required as part of the leasing process should also be clearly stated in the lease. In addition, it is important to define rights of entry which are also commonly governed by local laws so both parties should be familiar with what those are and ensure the lease term is consistent with local laws. The lease should also specify how repairs and maintenance needs will be addressed and define any limits of occupancy. What will happen if there is any illegal activity conducted on the property should also be defined. Another important consideration includes pets which should also be included in the lease.

Residential leasing plays an important role in the lives of many which is why it is essential to understand. The parties should understand how to draft a lease and how to properly execute a lease so that the interests of the parties are protected.