A rental agreement is a legally binding contract between the landlord and the tenant that outlines the terms and conditions of the rental.
This contract document is made up of many components. They are:-
1. The rental agreement should be very specific on the subject of abandonment. It must clearly define the landlords options if the tenant leaves the property without notice?
2. It should outline the alterations that a tenant can make to the property. The rental agreement should clearly state the kind and extend of the alteration that is allowed or not.
3. The rental agreement should touch on the subleasing. As subleasing is very popular today, the rental agreement should state your stand very clearly on this subject to avoid future misunderstanding.
4. The rental agreement should also state very clearly what will happen in the case of defaulting on a payment. The late fees should also be outlined in the rental agreement. The tenant should know up front how much they will be penalized.
5. As a landlord you should have access to your property for inspection. The rental agreement should detail when and how you will be able to enter the...
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