This comprehensive Lease Agreement is designed for a specific term such as 1 year, 6 months, etc, after which the lease ends or may be renewed. During the lease term, the Tenant may only be evicted for cause (not paying the rent, breaching the lease, etc). The Tenant is responsible for the entire amount of rent for the lease term, even if Tenant leaves early. This differs from a “month-to-month” lease in which either Landlord or Tenant may typically give one month’s notice to vacate the premises without cause.
Rent-back Agreement Form California
State:
California
Control #:
CA-864LT
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out California Residential Rental Lease Agreement?
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FAQ
Rent-Back Risks For Buyers Delayed move-in schedules: Buyers can't move in upon closing when a rent-back agreement is in place. If you're the buyer, you may have to wait weeks or even months to move in.
After the Closing occurs, Seller shall continue to occupy the Property and shall rent the Property back from Buyer at a rate of FIVE THOUSAND AND NO/100 DOLLARS (5,000.00) per month (?Base Rent?), payable in advance to Buyer on the first day of each month.
Cons Of A House Rent-Back The rent may be more expensive for the seller than their mortgage payment. If there's damage to the house, sellers may lose their security deposit. The buyer can't take possession of the house upon closing. The buyer ends up taking on landlord responsibilities.
There are advantages for both the buyer and seller in a rent-back agreement. It will help the seller avoid moving twice and give them time to finalize their next place of residency. The buyer benefits financially and can use the money they've earned to help cover closing costs or moving expenses.
Rentback is a reputable leaseback platform that acts as a broker to investors who want to buy property in your area.