Rental agreements are very important for having a peaceful and hassle free life. You can consider yourself lucky if you are leading a comfortable and smooth life without one. It is not that only the tenants are in need of it, but the land lords are also benefitted from it in many ways. A well drawn tenancy has all of the information about the property including its location and address, the name of the landlord, the amount of transaction and the term of the Lease Agreement. It acts as a legal document in case of any disputes between the two parties. We have got some of the best rental agreement types for you to choose from.
> Importance of The Rental Agreements
The Rental Agreement is a necessity in all types of property rents as a lot of disputes may arise between the landlord and the tenant/ tenants. In other words, it is the guideline or legal evidence which has all the necessary information about the renting. It is the ultimate legal entity which is to be followed. You can take any Agreement Template given here in word format and download them. In ms word, or Word 2010 which is mostly used, you can design your own rental agreement.Terms to Include in The Rental Agreements.
- Names of all the tenants taking the property for rent.
- The limits regarding the occupancy of the property.
- The term for which the tenants have taken the property on rent.
- The amount which is payable by the tenants as rent.
- Any additional fees or deposits (if any) that have been paid by the tenants.
- The party responsible for of any maintenance or repairs. It is the common topic of dispute between the two parties.
- Allowance of pets.
- Any limitation to tenant’s access to the rented property regarding repairs.
- Any other agreements or restrictions.
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> Types of Rental Agreements
Among the many rental agreement examples given here for word, there are three main classifications:
- Periodic Tenancy which gives the tenant to enjoy the property quietly, or without disturbing the landlord or breaking any of the clauses in the agreement.
- Tenancy at will which includes the occupying of the property by any tenant without permission of landlord or paying of rent.
- Tenancy at sufferance takes place if the tenant/ tenants move in to the property legally and fails to leave it after completion of the term.
All the types are downloadable; you can choose any Free Word Template, download it and open the word document on your system.
> Choosing The Rental Agreement Template and Using It
In word or in Microsoft Word, you can alter or add any sections of the word doc if they are considered necessary. You can do free download from here or can also take ideas from the examples given here and create your own agreement on word. These are the mostly used rental agreements and have all the spaces required in a complete rental agreement.