Do you know what a rental agreement is? Well, it is a legal document that explains the arrangement amidst the owner of the property and the other party that will pay the property rent in exchange for the permission granted by the owner to occupy the property.
The owner of the property is also known as the lessor or the landlord. The one known to pay the property rent is known as the lessee or tenant.
To people who do not have much information about the agreement, it is a contract that documents the usage of the space no matter commercial or residential for a specific period of time in exchange for rent. On the basis of the contract, both the tenant and the landlord can negotiate the total amount. The document is known to be legal and mutually binding once both parties make their decision and sign the agreement.
You may also encounter a rental agreement if you keep in mind the mentioned below:
- Rental lease agreementĀ
- Rental contract
- Apartment lease
- House rental agreement
- Lease formĀ
So if you are the owner or a tenant, get the free printable rent agreement and get started.
Difference between a free rental agreement and lease agreement
Even though both the terms are used interchangeably, both the lease and rental agreement legally refer to different types of agreement documents. Both of them are legally binding contracts between the tenant and the landlord.
When we talk about a rental agreement, it consists of the mentioned below characteristics:
- A rental agreement is for month to month. The landlord can make the required changes regarding the rules and rent of the property. However, the owner has to provide a notice to the tenant. Now when it comes to the notice, the tenant should receive it prior thirty days in advance.
- When it comes to the lease agreement, it states the rent which is due for a particular period of time. The landlord can make the required changes during the rental time. In case the landlord wants to make some changes, they need to wait until and unless the lease has expired. Only then the new terms for the lease can be added.
One of the biggest differences amidst both of them is the total time period both the documents cover. The lease basically covers more time as compared to the rental agreement. The lease normally covers a longer period of time, for example, six months or 12 months. A rental agreement covers a shorter period of residency, usually 30 days.
Other rules and regulations to follow
A rental agreement can consist of other expectations for the behavior of the tenant including the below mentioned.
- Whether or not smoking is allowed
- Whether or not drinking is allowed
- Whether guests overnight are allowed.
- Whether guests staying at the property are allowed.
The Final ThoughtsĀ
These are some of the information you need to know about both a rental and lease agreement. No matter the agreement, you should always have the free printable rental agreement with you. This way you won’t face any problem.
To know more about the free printable basic rental agreement, feel free to speak to the professionals. They have the required skills and knowledge to get the work done in the right manner. Also, you will get all the information that is needed. In addition to this, the best part about getting in touch with the professionals is they will provide all the important information. Hence, you need not worry about anything because they are always there to help you no matter the problem.
