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RESIDENTIAL LEASE AGREEMENT (With Option to Purchase) 1. PARTIES: The parties to this agreement (Lease) are the owners of the Property A.A. Sky×Andrew Smith (Landlord); and (Tenant×. 2. PROPERTY

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How to Fill Out a Residential Lease Agreement:

1. Review the lease agreement: Before filling out the residential lease agreement, carefully read through the entire document to understand its terms and conditions. Pay attention to clauses related to rent, lease duration, pets, and maintenance responsibilities.
2. Gather necessary information: Collect all the required information, such as the full legal names of the landlord and tenant, addresses of the property, and contact details for both parties. Additionally, you may need to provide details about any co-tenants or occupants who will be residing in the rental unit.
3. Specify lease terms: Clearly state the start and end dates of the lease term. Indicate whether it is a fixed-term lease (with a specific end date) or a month-to-month lease (which automatically renews each month until terminated).
4. Outline rent payment details: Include the monthly rent amount and specify the due date and preferred method of payment. Additionally, indicate any late fees or penalties for late rent payments.
5. Include a security deposit provision: Clearly define the amount of the security deposit and specify the conditions under which it may be withheld or returned to the tenant at the end of the lease term.
6. Describe maintenance and repairs: Determine who is responsible for specific maintenance tasks, such as lawn care or repairs. Include any provisions for the tenant to report maintenance issues promptly and the landlord's obligation to address them in a reasonable timeframe.
7. Address tenant obligations: Specify any rules and restrictions that the tenant must abide by, such as restrictions on pets, smoking, or noise levels. Include any specific requirements for insurance coverage or utilities that the tenant is responsible for.

Who Needs a Residential Lease Agreement:

1. Landlords: Residential lease agreements are essential for landlords who rent out their properties, providing legal protection and outlining the rights and obligations of both parties involved in the lease.
2. Tenants: Tenants also benefit from having a residential lease agreement as it sets clear expectations regarding rent, maintenance responsibilities, and other crucial aspects of the rental agreement.
3. Property Management Companies: Property management companies that handle multiple rental units on behalf of landlords use residential lease agreements to formalize the relationship with tenants and ensure compliance with leasing laws and regulations.

In conclusion, filling out a residential lease agreement involves understanding the terms, gathering necessary information, and specifying lease details such as rent, payment, repairs, and tenant obligations. It is a crucial document for both landlords and tenants in establishing a legal and transparent rental relationship.

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