Example of a Lease Agreement and Its Various Types
Knowing the example of a lease agreement as well as their various types can help you understand more about legal matters when it comes to composing a document. The lease agreement is one of the most common types of written legal documents that are used widely by people today. Familiarizing yourself with the forms and the different types can help you understand it better – and you know the different lease transactions that may occur.
The Various Types
A lease agreement is a legal document between the landlord (the person owning the property) and the tenant (the user). There are specific commitments that the agreement would specify. If your credit history isn’t too convincing or if you are under (a certain) age, then you need a co-signer.
As it was mentioned before, there are different kinds of example of a lease agreement as well as different types of the agreement.
- Month-to-month lease. As the name suggests, the agreement covers a month period of rent within a time. The price may change at any time – provided that the landlord provides the notice defined in the lease. This agreement is perfect for those who are unsure about how long they will stay in the property. Naturally, you need to renew the agreement on a monthly basis, if you decide to continue it.
- Short term lease. The agreement would specify the exact time period for the rental along with the monthly (and fixed) monthly rate. This is perfect for those who already know how long they will stay in the property but only for a short term. Such an agreement is applicable for tenants who want to rent it for less than 11 months.
- Long term lease. This is similar to the short term one, but for a time period longer than 11 months in general.
- The sublease is the action when the tenant is leasing out the property he already rents to another sub-tenant. For instance, you are the tenant that is renting a house from Mr. B (meaning that he is the landlord). You rent the house for 2 years. But while it is going, you have to be away for work for12months. During those 12months, you are renting out the house to another tenant who agrees to your term. Not all areas allow subleasing so make sure that you know your local regulations before doing it.
In case you need to have those agreements or samples, you can see our collections of example of a lease agreement below – so you know what to expect.