Residential Lease Agreements

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Residential Lease Agreements - Basic Info

A residential lease agreement is a legally binding contract made between a tenant and their landlord. The lease agreement is made to give the tenant the right to use the property in exchange for payments made to the landlord. In addition, the lease agreement will also outline the rights and responsibilities of both parties during the leases term.

Where do I get a Residential Lease Agreement?

You can get a printable residential lease agreement form online. To find your state's residential lease agreement form visit LegalFormsBank.Biz and choose your state.

Why Can't I Just Have a Verbal Lease Agreement?

A verbal lease agreement isn't sufficient because oral agreements are difficult to enforce. If a legal dispute arose you'd have no solid evidence. The only option the court would have would be to hear both sides of the story then come up with their own conclusions. If there is a written agreement then the courts are obligated to follow it, even whether or not they personally agree with it.

Periodic Tenancy versus Fixed Term Tenancy

Every landlord must decide whether their tenants should be put under periodic tenancy or fixed term tenancy. Periodic tenancy is when your tenant agrees to renew the lease on a month-month basis or even week-to-week basis. This gives the landlord more flexibility to end the length of a tenants stay.

Fixed term tenancy is when the landlord agrees to let the tenant use the property for a fixed amount of time, as an example, for six months. This gives the landlord less flexibility to end a tenants stay on the property. For this reason, periodic tenancy is preferred by most landlords.

Reader Feedback

  • JanaMurray Oct 26, 2008 @ 5:25 pm | delete
    I think this will become an increasingly important lens.... very useful collection of lenses. :)

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