What are Rental/Lease Agreements

Rental lease agreements define the terms of the tenancy. Whether as a tenant or a landlord, when you’re leasing a property, drafting a contract is essential.

A rental agreement identifies the rights and responsibilities, and obligations of the landlord and the tenant. As a landlord, the leased property is your primary source of revenue. Leasing it to someone else means shouldering the uncertainty of its maintenance and condition

Why are Rental Lease Agreements Important?

Rental/Lease agreements ensure both parties understand the other’s expectations. It outlines the performance obligations under the contract clearly to reduce conflicts. While the enforceability of the specific provisions of the agreement depends on the relationship between the tenant and the landlord, it offers a backdoor in case disputes arise.