How Do I Write a Lease Agreement?

A large number of people have to enter into contractual relations: to rent a room for an office, an apartment, or a house for living, to lease a land plot, a car, or equipment. According to the arrangements, a person gets the property into possession for a certain period of time.

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In this case, it is necessary to conclude a lease agreement, which is a legal document that specifies the duties and rights of the two parties. One of them is the landlord, the other is the tenant. It is important to draw it up competently, as it protects the interests and rights of both parties.

There is a lease agreement template that can be taken as a basis for its drafting. There are different types of lease agreement templates, so you should choose the one that suits your particular case.

Required Documents

Before entering into a simple lease agreement or any other type of rental contract, it is necessary to prepare the documents in advance. These documents are used to establish the identity of the parties signing the documents and the ownership of the property. It is usually necessary to prepare:

• Identification documents;
• credit and property history;
• social security number;
• income verification certificate.

You also need to prepare a deposit 1 to 2 months in advance. Other documents may also be required. For example, if you want to rent an apartment from the managing company, they have a special rental agreement form that you need to sign.

Required Provisions in a Lease Agreement

The lease agreement begins with the identification of the landlord and tenant through their full legal names and contact information. It is necessary to specify the full name/title in accordance with the passport data or legal documents. This section also usually includes the address and description of the property, rights and obligations of both parties. Furthermore, the following points should be included:

1. The term and amount of the monthly rent. This may include the preferred method of payment - via card, wire transfer, or cash, as mutually agreed. It should also be noted here who pays the tax.
2. Expenses and utilities. The contract should definitely indicate which party will pay and is responsible for this.
3. The conditions under which the rent payment is revised. It is impossible to unilaterally change the cost and make the tenant face the fact. The owner of the property has no right to do so. These issues must be stipulated in the rental agreement and observed during its validity period.
4. Use of the property. This section describes how the tenant can use it and any restrictions imposed by the landlord. It may include rules about subleasing, smoking, or keeping pets.
5. Maintenance and repairs. The lease specifies who is responsible for this. It may also detail procedures for requesting repairs and maintenance.
6. The procedure and terms of termination of the contract. This can happen if one of the parties fails to comply with the agreements. For example, the landlord has damaged the property. It is necessary to prescribe in the contract the time period when the tenants must leave the dwelling. Or the owner appears at any time and opens the apartment with his key. This can cause dissatisfaction of the tenant, and he warns the owner that he will move out within the time stipulated in the contract. Possible visits by the owner should also be mentioned in the document. It may also outline the conditions for extending the lease.
7. Penalties. These are charged if you are late in paying for the rent for the property. The section specifies the amount of penalties to be charged for each day overdue.

In some cases, the landlord sets conditions on what can and cannot be done in the apartment. For example, it is strictly forbidden to smoke, have pets, make renovations, or punch holes in the walls. This is the landlord's right, and the tenant is obliged to take into account such nuances, specifying them in the contract. As a rule, a rental contract template contains all these points.

What Should Be Attached to the Lease Agreement

The assets in the apartment, house, or office must be described. This is necessary to ensure that when the lease agreement is terminated, the owner does not demand something that was not originally present in the premises. For this purpose, most often a separate document is drawn up - a certificate of acceptance and handover of property, which should be attached to the contract. In this case, it is recommended to describe everything in detail, down to the existing cracks, and not just write that the condition is satisfactory.

The payment slip should also be attached to the contract. It is a document where representatives of both parties keep a record of the rental payments. It should include:

• Month;
• Amount of payment;
• The signatures of the owner and tenants are placed every month when making payments.

If the rent is paid via bank transfer, the receipts must be kept. They are the proof that the payment was made in accordance with the terms of the agreement.

If all of the above points are clearly and thoroughly described in the rental agreement, then there will be fewer problems in the future and you will not have to solve them in court. Properly drafted documents indicate the serious intentions of the property owner and the tenant.

PandaDoc: Online Platform that Specializes in Creating Professional Documents

Some property owners want to draw up a lease agreement without assistance. This step is risky, so it is recommended to turn to professionals who are experts in this matter and will help to leave a document that takes into account all the nuances. This is exactly what PandaDoc is. Let's take a closer look at what this platform offers to clients.

If you decide to take advantage of the offer of this online platform, you will be able to quickly create a professional document using a ready-made rent contract sample. For this purpose, you should first register on the website. After that, you can:

• create the required documents, including a property lease agreement;
• use the tools offered by the service. They are used to add text, tables, images, and other necessary content to the required document;
• insert electronic signatures, while the system monitors their status;
• customize the template so that you can make changes and leave some positions permanent;
• save the document and track its status, receiving notifications of who viewed it and when they were viewed.

PandaDoc is a user-friendly platform with a clear and simple interface. Therefore, there should be no issues with its operation. Due to the fact that the service is easily integrated with other systems, such as CRM (customer relationship management), documents can be sent and data can be managed making the necessary changes. They can also be archived.

New users are given the opportunity to use the service for a certain period of time for free. This will enable them to familiarize themselves with the work of the site, its tools and decide whether it is suitable for them or not. All entered information and data are reliably stored and protected.