Important Elements in Rental Agreement for House
Dealing with rental contract can be tricky and confusing, especially if you are dealing with the rental agreement for house. There are so many details and so many elements to include in the agreement so each party will understand their rights and avoid mistakes. Never underestimate the process of composing the agreement because it can affect the rental clause – and things that follow it.
The Important Elements
No matter what kind of rental agreement for house templates you are using, make sure that they contain these following elements. Never miss one of them or you may deal with unpleasant things in the future:
- Each party’s complete name. To create a legit and sound legal contract, both of the involved parties should have their name on the contract. And it is crucial that you should make sure that your name is written completely.
- The correct name. Make sure that the name is written and spelled correctly. And if you want to stay in the property with other people (your spouse, your family, or friends), their names should be included in the agreement too. If you rent the property under your name only but then you share it with others, you have defaulted the agreement and you may be subject to penalties.
- Rental payment details. The information about how much the monthly rent is and when the due date is should be written clearly in the agreement. Whether you are the landlord or the tenant, it is always a good idea to write everything in details. What about the utilities – are they included in the contract? Or is the agreement covers only the base rent? You need to make sure that such a thing is included in the contract.
- Pay attention to extra fees. When dealing with the rental management, there are different costs and different financial arrangements to it, such as:
- Agency fee. If the booking happens through the agency, then you will have to pay for the fees.
- It is common for landlords to require deposit (for a month or two) for security or for appliances and furnishing protection
- The lease terms. Be sure to pay attention to the terms, especially for the things that can be done to the property – or can’t be done while you are still in the property. No pets or no smoking may be included in the term.
Basically, there are still more elements that you can expect when dealing with rental agreement for house so you can always see the examples below in case you need an inspiration or example.