A rental contract is a legal agreement between two parties- the property owner or landlord (lessor) and the tenant (lessee). The lessee is given use of a property for a fee, and for a period of time, either short or long term. The contract does not give ownership rights to the tenant, but it can give provision to a certain degree to change or modify the leased space.
Reasons For Having A Rental Contract
A contract is written to protect both parties from misunderstandings that could arise in the future. As the lessee is responsible for the condition of the property during the lease period, it provides guidelines and details of expected or acceptable behaviour of both the tenant and the landlord, and the responsibilities and obligations of each. The residential rental contract will vary from a commercial contract, questions answered will help create a template that is suitable for the user.
What To Include In A Rental Contract
Questions such as contact information, the parties involved, the time period (the commencement date and end date), terms and conditions of the contract, the amount to be charged for the space and the mode of payment are also important aspects of a lease agreement. Our rental contract templates are easy to use and create, with the key information given, they can be modified and tweaked to reflect the needs of the user (either a tenant or landlord).
Summary of Rental Contracts
Contracts minimise disagreements – and for a tenant leasing a property where one does not exist, or specific crucial requirements are not addressed, writing a contract as a tenant, is acceptable. A written contract is legal evidence and can also be used for tax benefits and purposes, if you qualify for tax relief and benefits. Our rental tenancy agreements can be used as residential contracts within: England, Wales, Northern Ireland and Scotland.