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What is a Residential Lease Agreement?
A Residential Lease Agreement form is a legally binding contract between landlord and their tenant. It outlines the amount of monthly rent, move-in fees, security deposits, pet deposits, pet rent, and more. It protects both the landlord and the tenant from potential legal damages.
In one sentence, what is the purpose of submitting this form?
The purpose of a Residential Lease Agreement is to outline lease payment details, and protect both the landlord and tenant in case of damages to the property or misuse of rent.
What information do you need in order to complete this form?
This form is fairly straightforward. Most of the legalese used is boilerplate and will not need to be adjusted except in special cases. The following information is required…
- The date the lease is printed and signed
- The full names and address of the landlord and tenant
- The county and full address of the property being leased
- The lease term in years or months, the date when this term begins, and the date when this term ends
- The total sum of rent, the equal installment amounts in which the rent will be paid, and the day of the month when this installment is due
- The full amount of the security deposit
- The amount that rent shall be paid should the tenant decide to continue living on the property after the expiration of the lease
- The amount of pets that can be on the property, the amount of the pet deposit, the amount of the pet deposit which is non-refundable
- The signatures of the landlord, tenant, and a witness with accompanying dates
Once this information has been filled out and the form has been signed, the contract is legally binding and must be followed and deposits/rent must be paid in full.
Who is the intended recipient of this form?
This form is received by both the tenant and the landlord. The form should be kept on file in case of legal disputes or for general reference.