The relationship of landlord/tenant or lessor/lessee is created by contract. The person who owns the real property is known as the lessor or landlord. The lessee, or tenant, is the one who occupies the property.
Tenancies are classified by duration as tenancies for years, from year to year, month to month, and at will. A tenancy for years is one under which the tenant has an estate of definite duration. The term "for years" is used to describe such a tenancy even though the duration of the tenancy is for only one year or for less than a year. A tenancy from year to year or month to month is one under which a tenant, holding an estate in land for an indefinite duration, pays an annual, monthly, or weekly rent.
When land is held for an indefinite period, which may be terminated at any time by the landlord or the tenant, a tenancy at will exists.
A rental agreement is a legally binding contract between a landlord and a tenant that outlines the terms and conditions of a rental arrangement. It is essential for both parties to include specific clauses and details to protect their rights and ensure a peaceful and mutually beneficial relationship. Here is a detailed description of things that should be included in a rental agreement: 1. Basic Details: Include the complete names and addresses of both the landlord and the tenant, as well as the date the agreement is being signed. 2. Property Information: Provide a thorough description of the rental property, including its address and any unique features or amenities it may have. 3. Duration of Tenancy: Clearly state the start and end dates of the lease agreement. If it is a fixed-term lease or a month-to-month tenancy, specify the notice period required for termination. 4. Rent Payment Details: Outline the amount of rent, the due date, and how it should be paid (e.g., cash, check, or online transfer). Indicate any penalties for late payment or bounced checks. 5. Security Deposit: Specify the amount of the security deposit and the conditions under which it can be withheld, such as unpaid rent, damages, or cleaning expenses. 6. Utilities and Maintenance: State which party is responsible for paying utilities and maintaining certain aspects of the property, such as lawn care or repairs. 7. Occupancy Limits: Clearly define the number of individuals allowed to reside in the rental unit to prevent overcrowding. 8. Use of Property: Specify any restrictions on the use of the property, such as not allowing pets, smoking, or running a home-based business. 9. Repairs and Maintenance: Outline the procedures for reporting and addressing maintenance issues, as well as who should be responsible for repairs caused by negligence or tenant actions. 10. Right to Entry: State the circumstances under which the landlord can enter the rental unit, such as for inspections, repairs, or emergencies. Specify the required notice period. 11. Termination of Lease: Detail the conditions under which the lease can be terminated by either party, as well as the notice period required. 12. Insurance: Determine whether tenants are required to obtain renter's insurance and specify the coverage amount, if applicable. 13. Renovations or Alterations: Specify whether tenants are permitted to make any changes to the property and, if so, outline the process for obtaining permission. 14. Arbitration: Include a clause indicating that any disputes arising from the rental agreement will be resolved through arbitration rather than going to court. 15. Signatures: Both the landlord and the tenant should sign and date the rental agreement, indicating their understanding and agreement to all the terms and conditions. By including these key elements in a rental agreement, both landlords and tenants can ensure a transparent and legally binding agreement that protects their rights and interests.
