Tips to prepare a lease agreement

Renting out a property is a complicated process, that should be supported by a range of documents. It is very important to make your tenant sign a lease agreement in order to avoid any possible misunderstandings. Each basic residential lease agreement template should include certain basics. We offer you to look through the list of tips:

1. Any agreement completed correctly has answers on four main questions: “who?”, “when?”, “where?” and “what?”. Clearly state who the lease is between. Don’t forget to include the third party if your lawyer or an agent is involved in the leasing.
   
2. Identify the property. Specify the name and the accurate address. Include house number, street name, apartment number, house, state and postal code.
   
3. Determine the term of the rental contract. It’s very important for every party to know when the contract is valid. Include the exact date (day, month and year) when the lease begins and ends.
   
4. It’s advisable to clearly state the full amount of rent due over the period of the entire lease and then break it down by the amount due per month. Choose the date on which the payment is due.
   
5. The contract should be signed to become legally binding. The signatures serve as a confirmation that the landlord and the tenant agree to follow the terms of the accord. The tenants should be over the age of 18 and named in the “parties” clause of the document.
   

Follow five simple rules to close the deal successfully. Make a hard copy of the contract to keep it for your records. Give another one copy to your tenant. If you have any additional questions about any specific circumstances ask a legal counsel for advice

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