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Property Rental Agreement

Property Rental Agreement is a very important tool to ensure landlord and tenant protection. Although, instances of sound landlord tenant relationship based on the word of mouth is abundant, still it is in the interest of both to be more practical and sign Property Rental Agreement . Moreover, it serves as a very good reminder, if either of the two parties fails to remember what they agreed initially.

Is there any standard format of Property Rental Agreement?

Yes. Landlord Tenant Act of respective US states has standard formats of Property Rental Agreement for the guidance of the residents of that particular state. However, the following points are common to all states:

  • Name with mailing address of the signatories;

  • Duration of tenancy and its type;

  • Financial obligations;

  • Listing of specific liabilities during tenancy;

  • Sudden termination of agreement and its procedure.

How fair is Property Rental Agreement?

Property Rental Agreement distributes duties as well as benefits, equally. As per the laws, the agreement urges both the parties to pay respect to the rights of each other. Disobedience to this can pull the party at fault to court.

According to the laws, Landlords are justified in claiming rent amount from the tenant on time. If the rent payer shows irregularity in doing so, landlords can ask them to leave the rental unit.

On the other hand, Landlords are liable to make the dwelling unit suitable for habitation before the occupants move in. Also the occupants should not be deprived of the security deposit.

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