Simple Residential Lease – A lease agreement is a authorized agreement that enables the tenant to use the residence for a while. The agreement specifies the terms and conditions below which the parcel could be applied and what happens in the event the tenant would not stick to these conditions. It is also known as the rental agreement or rental contract.
The landlord and tenant have diverse duties during this type of agreement. The landlord agrees to provide the residence towards the tenant and ensure it is in good situation while delivering all important utilities – water, electric power, heating, etcetera. The tenant agrees to pay for lease promptly and take care of the house like it is their home.
In some states, landlords must supply a lease agreement form ahead of they could rent out their homes.
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