9 Steps to Make a Standard Lease Agreement

Standard lease agreement is a document which officially outlines the terms where one party agrees to rent property from other party. It is legally binding. Besides that, it also ensures the rights of both renter & landlord. Now, let’s take a look closer at what actually goes into this agreement.

Standard Equipment Lease Agreement

 

How to Write a Standard Lease Agreement

In writing a standard lease agreement template, make sure that you include the following details. First, you have to mention the names of the parties. It must be clear who the renter is and who the landlord is. The landlord will sign it, too.

Second, this agreement should state the location & description of the property. It must be the complete & clear address of the property. For the description, you have to state whether it is a house, apartment, in-law suite, condo, etc. So, there is nothing confusing about the property.

Third, terms & limits of the occupancy also need to be included. In this section, the agreement should state when you can move it & when you have to move out. It can be a full year or month to month payment. This must be provided in this section, too.

Forth, you cannot forget including rent & utilities. In this case, both parties must agree about the price stated on this agreement. The utilities should also be outlined properly. So, the renter will know the responsibilities during the rent or lease. For example, it relates to the maintenance, garbage, etc.

Fifth, a standard rent agreement template should also contain security deposits & fees. The exact amount of deposit and the fees to be paid every month or every year must be stated clearly. The security deposit will be returned after the renter moves out and it must be stated, too.

Sixth, you have to state the alterations, repairs & maintenance. It is very important to explain these details. In this part, make sure that you state whether the alterations, repairs & maintenance belong to the responsibility of the renter or not. The examples of alteration are painting walls & installing shelves.

Seventh, the agreement should also state the access to property. It is the right of the landlord to access the property in certain situations such as maintenance, repairing, etc. It is very important to prevent illegal entry & claims. Even though it is stated, the renter will be notified first.

Eight, it is also important to include pets. It depends on the property whether it is pet-friendly or not. In this section, the agreement has to state clearly whether pet is allowed or not. If so, it must also be clear what type of pet allowed to the property.

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Last, other restrictions also need to be included in the standard lease agreement. It is important to ensure that all parties are aware of the laws binding them. It may relate to health & safety codes and also the state law. The lease must restrict illegal activity to prevent others to file lawsuit.

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