A Lease Agreement – A lease agreement is a authorized agreement that enables the tenant to make use of the property for a while. The agreement specifies the phrases and conditions less than which the parcel could be utilised and what transpires if your tenant does not abide by these terms. It is also known as the rental agreement or rental contract.
The landlord and tenant have distinctive obligations within this variety of agreement. The landlord agrees to provide the residence towards the tenant and be certain it is in good issue while delivering all important utilities – water, electric power, heating, etc. The tenant agrees to pay lease punctually and handle the residence like it really is their dwelling.
In certain states, landlords need to give a lease agreement variety just before they will hire out their properties.
A Lease Agreement
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