A lease is important to many property owners and renters which is why it is important to know what should be included in a lease. Landlord tenant law can help landlords and tenants ensure they are protected with their lease.
What should be included in a lease
There are several elements that should be part of a lease including:
- The physical address of the property to be rented;
- The amount of rent that will be paid;
- When the rent must be paid;
- Where the rent will be paid;
- Who the rent will be paid to and how to contact the person or entity the rent will be paid to;
- How the rent is to be paid, including the forms of payment that are acceptable for the rent to be paid in; and
- The amount of money required for the security deposit.
These elements should be included in the final written lease that is signed by both the landlord and the tenant. Rental agreements for a year or greater in duration must be in writing.
The term of the lease should also be included in the lease as well. This can include a month-to-month periodic rental agreement or a lease term agreement. The type of rental agreement also determines how and when it may be renewed. It also impacts notice requirements by the parties.
The landlord tenant relationship creates important relationship between the parties and the lease agreement can help protect the interests of the parties in that housing relationship. For that reason, both landlords and tenants should be familiar with what should be included in a lease and the nature of the legal protections available to both landlords and tenants.