What Should Be Included in a Rental Agreement?
Rental agreements should protect both the tenant and the landlord, addressing responsibilities and expectations of each party.SignificanceAll rental agreements or leases should be written and signed by both tenant(s) and landlord to avoid misunderstandings. The agreement states names of responsible parties, period of rental, monthly payment amount and due dates, utility inclusion, restrictions, damage deposits, late payment and early termination procedures.TypesRental properties may be residential or commercial, determined by both the landlord and zoning restrictions.ExpectationsThe landlord expects each tenant to take care of the property, make timely rent payments and return property in its original condition. Tenants expect that the property will be in good repair and the landlord will maintain plumbing, electric and appliances during the rental period. A damage deposit is collected from tenants as insurance for any damages, and conditions required to redeem this deposit are made cl
