Rental Agreements
RENT AGREEMENT TERMS EXPLAINED & SAMPLE RENT AGREEMENTS
Rental Agreement Clauses & Terms Explained
The sections below define the clauses and terms that a rental agreement must contain.
BASIC CLAUSES
- Identity of the Landlord, Tenant, Property
- Period of the agreement
- Escalation
- Rent & payment date
- Rent Delay Penalty
- Security Deposit
- Allowable deductions from Deposit
RESPONSIBILITIES OF PARTIES
- Use of property
- Changes to property
- Responsibility for damages/maintenance work
- Right to sublet
- Inspection by landlord
- Association payment & Association rules
- Tax & legal payments
TERMINATION & DISPUTE
- Termination process
- Lock-in
- Notice period
- Handover condition & terms
- Return of Security Deposit
- Violation of agreement terms
- Dispute jurisdiction
- Indemnity
Each of the above clauses is explained in Detail in the Prop.Academy course on Real Estate Renting 101. You can review that for further information.
