A lease agreement is a contract that states the terms and conditions of a rental property, negotiated, agreed upon, and signed by the tenant and the landlord. The form of these agreement templates vary, with each depending on the conclusion of the tenant and the landlord’s negotiation. Here are some templates and examples of lease agreement that you can use or follow as a guide.
This lease agreement template is more than sufficient for landlords who are looking to lease their property. Most of the things that landlords need to know about the tenant and things the tenant needs to know about the property and the conditions of living there is already here. This is a fairly short and simple agreement but it most definitely gets the right points across.
Although most lease agreements are known to be extremely thorough and long, some actually prefer keeping it short, simple, and precise, mostly just covering the things that need to be covered such as the terms and conditions and payment. This is efficient if you do not have any needs that require a special contract, or if you are in a trusting, personal relationship with the landlord or the tenant. So long you adhere to the law and be sure to keep the property in habitable shape, you should be good to go.
Commercial lease agreements tend to be more complex and detailed, understandable considering the property will then become a place of business. You will need to consider things such as the condition of the property being in its optimal condition all the time, the length or term of a commercial tenant’s stay, seeing as how unpredictable it is to confirm a business’s longevity, and other things like utility and parking. Whichever industry you are in, or what you are planning to use the property for, it is important that you have this agreement and both you and your landlord are able to fully understand everything.
As I mentioned earlier, there are many forms and templates of lease agreements. However, the standard residential lease agreement is the more widely used and recognized contract by landlords and tenants. It has a fixed term, usually having the landlord and tenant be bound for 1 year.
This sample lease agreement is for residential properties. We see being agreed here are the terms, the payment schedule, and the state of the security deposit. The landlord and the tenant have also agreed to divide the payment for the utilities, with the landlord paying for the water, electricity, garbage disposal, etc., and the tenant paying the other unspecified utilities. One thing that is also being meticulously explained here is the circumstances that can lead to eviction. Tenants should take note of this part of the agreement and be extremely familiar with it.
An example of the more widely used standard lease agreement, and this one is extremely long and detailed, covering an astounding 36 points with each being explained pretty carefully. Aside from the more basic things like terms and payments, also discussed in this agreement templates of insurance policy, in case of abandonment, alterations, use of the garage, and terms of subletting, just to name a few.
An example of a lease agreement for commercial properties. I have mentioned in a previous point about the attention to detail when it comes to commercial lease agreements, this sample certainly proves that. A lot is covered in this agreement, with some of them unique to agreements tailored only to commercial properties—things such as SBA (small business administration) provisions. An eviction, if you are a business, is an extremely dangerous circumstance to occur. That is why you must do your best to adhere to the contract and avoid breaching it. It will serve you and your business well if your relationship with your landlord is healthy.
If you look at a lease agreement, especially those extremely long and detailed ones, you may think to yourself, “I don’t need to read all of this.” If you do, you need to get rid of that mind-set. As a landlord or a tenant, that agreement is everything that binds your relationship to the other. When I say “everything you need to know is in this contract,” you are going to have to know everything that is on that contract. It will serve you well as a tenant or a landlord in the long run.