For every type of property that is rented or leased, there is normally an accompanying agreement between the property holder and the tenant or lessee. This is not only meant to define the terms of the agreement but also to protect both parties from any dispute over responsibilities.
A residential lease agreement binds both landlord and tenant to conditions and responsibilities for the rental of a single-family home or apartment. The conditions include the length of the lease, the monthly rental amount and the exact location of the leased premises. The responsibilities may include which repairs will be made and which (if any) utilities will be absorbed by the landlord.
A commercial lease includes all terms and provisions necessary when a tenant is leasing any land or building zoned for business and with the intention of operating a business on that property.
When a tenant wants to lease agricultural land for farming or ranching, the landowner uses this type of lease to clarify terms and conditions with which the tenant must agree.
A vehicle lease covers not only length and payment amounts of the lease but also year, model and make of the vehicle, condition of the vehicle when leased and requirements for the lessee to keep it in good repair and maintain insurance on it.
For properties other than those mentioned above, the personal property lease outlines the terms and provisions for lease or rent.
Before a lease agreement is signed, it is advisable to discuss any additions or modifications with the prospective landlord or leasor. These can be beneficial to you as tenant. Also, clarify any conditions or clauses that may cause eventual dispute.
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