If you are planning to rent a property, you may want to get a written lease agreement. These contracts are used by landlords and tenants alike and state the terms of rent and other terms. The landlord may also employ the services of a property manager who is familiar with the lease’s requirements. The tenants sign the lease agreement before the beginning of the lease period. The lease will remain in force until the date set out in the contract. While house rental agreements and apartment leases differ slightly, they both have certain things in common.
For a rental property, you should always name all adult occupants on the lease. This way, you can easily verify who is living in the property. It is also advisable to require the signatures of each adult tenant, including minor children. This will help the landlord collect the rents in case any adult fails to pay. Moreover, you should always do a background check on any adult tenant to be sure that they are not violating any of the terms of the lease.
In addition to the lease agreement, you should have a security deposit. A security deposit is required when a tenant fails to pay the rent on time. The landlord can use the deposit to cover any damages caused by the tenant during the term of the contract. However, it is not possible for the tenant to use the security deposit to pay the final month’s rent. Security deposits are often the starting point of a disagreement between landlords and tenants, so it is important to outline any terms in advance.