What Are The 3 Payment Terms You Must Include In Residential Lease Agreements?

By Author: Carl Glendon
Total Articles: 106

A Residential Lease Agreement is signed between a landlord and his tenant, and underlines all the specific terms and policies that tenants are supposed to abide by as well as the responsibilities that the landlord is supposed to have. As a landlord, here are 3 payment terms that you need to include in Residential Lease Agreements written for your own property.

Rent

The agreement needs to have all the provisions mentioned about the rent, such as the due amount, when the payment is exactly due and the way in which rent needs to be paid.

Security deposit

Often, the issue of security deposit is quite disputative between a tenant and a landlord. Thus, it is essential for your rental agreement to be extremely specific regarding every matter that is associated to the security deposit. This includes the deposit amount, as well as the circumstances of how and when the deposit might be used and even the way the deposit is to be given back to the tenant. For more information about getting a rental lease agreement, please visit this website.

Maintenance fees

Landlords and tenants need to have specific obligations for maintenance under the rent agreement, and all these have to be set out in clear terms. For instance, the tenant might have to be responsible for keeping the premises clean and fix any damage caused due to his or her actions. The agreement terms need to make a tenant obligated to notify the landlord about any repairs that should be done to the premises.

Other fees

A landlord and tenant lease agreement form also needs to cover the types of fees, such as repair or cleaning fees, which may be subtracted from the amount of security deposit. You need to check the laws of your state related to security deposits, given that there could be specific requirements you have to abide by. Please visit this site to get a sample rental agreement simple.

Author Resource:-

Carl writes often about legal drafting, rental lease agreement, marital separation agreement and help the people in such needs. You can find his thoughts at free legal contracts news blog. For more information about getting a rental lease agreement in California, please visit here.