As a tenant or landlord, having a lease agreement is an essential document to safeguard your interests. Creating a lease agreement from scratch can be daunting, but luckily, there are sample templates available that make the process easier.
Here is a sample template for a lease agreement:
1. Parties to the Agreement: Identify the parties involved in the lease agreement, including the tenant and landlord`s names and addresses.
2. Property Description: Clearly state the property`s physical address, including the apartment number, if applicable.
3. Term of the Lease: Define the lease`s start and end dates and the renewal options if applicable.
4. Rent and Security Deposit: State the monthly rental amount and the amount of the security deposit, which is typically equal to one or two months` rent.
5. Payment terms: Define the date by which rental payments are due, acceptable payment methods, late fees, and other payment-related specifics.
6. Utilities and Maintenance: Clearly state which utilities are included in the rent and the tenant`s responsibility to pay for other utilities. Detail maintenance responsibilities of both parties.
7. Pets and Visitors: State the property`s pet policy and the maximum number of pets allowed. Define the rules surrounding guests and visitors.
8. Alterations: State what alterations are allowed to the property and who is responsible for the cost and labor.
9. Termination: Define the scenarios that could terminate the lease and the notice period required by both parties to terminate the lease agreement.
10. Governing Law: Identify the state whose laws will govern the lease agreement.
In conclusion, having a well-crafted lease agreement helps to establish clear expectations and protect both the landlord`s and tenant`s interests. This sample template can serve as a starting point for creating a comprehensive lease agreement that meets your specific needs.