Basic Rental Agreement Format
A basic rental agreement is a rental agreement between an owner of property and an occupant. It should include some sections such as security deposits, late charges, occupants, etc. Then, this agreement must be created & approved by the legal expert. Now, let’s see the following guidelines.
How to Write a Basic Rental Agreement
First of all, you have to mention that the basic rent agreement is made between 2 parties. Here, you should mention the names of both parties. The parties are called as renter and landlord. Sometimes the renter or the landlord consists of more than one person.
After that, you have to mention the agreement which tells that the renter agrees to pay the rented property. On the other hand, the landlord agrees to lease the property. Then, you will need to mention the more detailed agreement. The detailed agreement must be told below.
You can start with the section for premises & occupancy. For the premises, you have to state the location of the agreement made. It includes the name of the building or the number of apartment, the street, unit number and city, state, & zip code. Anyway, make it as complete as possible.
For the occupancy section, you have to tell when the renter will begin occupying the premises. Just tell the date, month and year. The next section is for People. Here, you will tell about the limitation of the premises. Besides that, it also tells about guests of renters.
Next, it is the section for Pets. In this section you have to inform the premises about the pets. Here, you can start providing the name of pet. After that, you can include breed. The next information to be included is weight. Age should also be included. If needed, you can insert the photo of the pets, too.
In the basic rental agreement template, you also have to include Cost & Payment. You can break it down into 6. The first is Monthly Rent. Just tell how much money to be paid every month. Do not forget to tell about the due date of the payment.
The second is Payment Method. You have to mention the acceptable payment methods such as cash, check, PayPal, etc. The third is Late Fees where you have to mention the amount of extra money to be paid if the renter is late to pay the lease.
The forth is Security Deposit. You have to describe it clearly. The next is Pet Deposit where you mention the deposit that should be paid by the renter. The last is Utilities where it tells about the responsibility of the renter to pay the utilities and other charges.
There are some other sections you will need to include in the basic rental agreement. They are Terms & Conditions, Right to Enter, Alteration, Dispute Resolution, General and Notices. In the end, do not forget that both parties sign off the agreement. The most important thing is both parties keep the agreement.
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