Basic Rental Agreement Template | Awesome Sign

Basic Rental Agreement Template

A Basic Rental Agreement is a contract between a landlord and a tenant outlining the terms and circumstances of the leasing of property. A commercial lease is tailored to tenants who use the property for commercial or residential purposes, depending on the type of property being leased. However, some agreements are so thorough that it occasionally turns away potential renters. Make things simple, that's the solution. As a result, placing it on a single page not only makes it easier to read, but it also makes it more acceptable to the parties concerned.

Sign up Now
preview imgsign cover back

Basic Rental Agreement

This One-Page Basic Rental Agreement PDF template provides the basic essential elements in a Basic Rental Agreement, such as the name of the parties, the subject property to be leased, the period of the lease, amount, the purpose of the lease and its restrictions, and the fixtures included in the property. Use this Simple Rental Agreement PDF template for your business and save time from creating your own PDF template.

Drafting this document is a must while hiring any property. Opting for the right methods safeguards your entire procedure and gives you hassle-free experiences. We have structured some vital information you may need to create an ideal rental agreement below. Take assistance for the finest tips here and make the most benefit.

You could use Awesome Sign's easy to use electronic signature to easily edit pdf template.

What is a rental agreement?

Rental bonds are vital legal documents requiring an acknowledgment or signature from both parties to be activated. It comprises information about the landlord and renter along with other property terms. The copy comprises aspects like rent, property details, size, security deposit, and duration of stay. Both parties must carefully examine the bond before signing or passing the document. The agreement is also not validated without two non-beneficiaries or witnesses.

Rental agreements are mostly written but can also be oral. However, written documents are preferred as they can be considered evidence. Further, one cannot alter the bond terms unless both parties agree.

What exactly is a basic rental agreement, and why is it necessary?

Renting or leasing is the process through which a landlord makes a property (or a portion of a property) available to a tenant for a certain length of time in exchange for a fee. Leases can be applied to both business and residential buildings. Landlords can either negotiate a lease with renters directly or use a property agency to rent a property on their behalf.

A rent agreement is a legally binding contract between a landlord and a tenant that spells out the terms of the tenancy. Many common rental agreements utilised by realtors are frightening and overly hard for renters to comprehend.

A basic rental agreement reduces legal language, making it easy to understand for all parties involved.

The benefit of a basic lease agreement is that there is no reason for renters or landlords to misinterpret the contract's terms. A simple lease agreement also makes leasing your home more approachable to prospective renters, enhancing your chances of landing a lease with high-quality prospects.

The vitality of a Basic Rental Agreement

The agreement is a legal document and thus plays a significant role. A rental bond secures the parties' rights and shields them against disputes. During the contract duration, multiple disputes might arise between the two parties. Such disputes are only resolved with the assistance of these agreements. It ensures proper security for the owner and safeguards tenants against unlawful demands. The rental agreement also gives the tenant brief ownership for some time.

Registration Procedure

Registering these bonds is not compulsory. However, it could help in case of any dispute as unauthorized papers are not applicable in a court of law. Thus, always consider a registration.

Register the document by reaching out to the nearest sub-registrar's office. Also, the parties must complete the registration 4 months before the bond is closed. Thus, note the date and hour the deed has been created. After the bond expires, one must create a fresh copy. Both the parties again need to sign the document with witnesses to complete the process. If both the parties are not present, one of them can sign a power of attorney to close the bond.

Necessary Documents

  • Ownership Proof
  • Property Tax Receipts
  • Passport size pictures of both parties and witnesses
  • Address proof of all individuals
  • Route map of the property to be rented

Registration charges Registration fees may alter state-wise. There is no fixed rate for all regions.

Important Clauses

1. Name of the tenants

The owner must collect all details of the people living on the property. Noting the names of the occupants is vital. These details are useful in case of disputes. It helps you take legal actions and safeguard your rental procedure in all ways.

2. Duration

A fixed rental duration must be mentioned in the rental agreement. After the duration has expired, the parties can renew it with mutual consent. Listing the duration safeguards the owner of the property completely. Further, it also secures the tenants by offering an assured stay.

3. Rent Amount

The bond must list the parties' agreed-upon amount in the document. The owner must also list amended terms. Further, the agreement should also include mode of payment, fines, late payment charges, and other needs.

4. Maintenance Cost

The cost of maintenance is borne by either one of the parties. Thus, these details must also be listed in the agreement. The bond must also list major and small expenses like bills, repair costs, and more. Offering more clarity is a must.

5. Security Deposit Amount

The bond must also mention the tenant's deposit to the owner in the agreement. Doing so safeguards both the parties against unlawful allegations. The owner also acquires more security if the tenant fails to pay the rent.

6. Terms

The bond must comprise details on how the tenant must treat the property and other aspects. Aspects like subletting, modification in the residence, pet permissions, etc., must be mentioned.

7. Notice period and Renewal

Both parties must properly note the aspects in the agreement for a better prior understanding. It comprises the renewal date of the bond and the notice time.

8. Amenities are extended with the rental property

Attached amenities that the tenant can access must also be mentioned. It ensures better security for the owner and his residence. The agreement must also comprise the latest terms of the residence for future reference. Further, this also enables landlords to prevent damages or repair costs during the stay.

9. Exit clause

In this clause, the clearance of penalties, if any, must be mentioned for better clarity.

10. Signatures and Registration Date

The most critical aspect of the rental agreement is this one. By doing so, both the parties agree to the bond terms and accept them by signing the agreement. It also assures that failing to comply with the terms can lead to penalties or legal actions if necessary. Thus, read all details of the agreement before agreeing to the clauses or signing the document.

11. Police verification

The chief aspect of any agreement is the legal verification of the renter. It comprises a complete history check to safeguard the stay and avoid any misuse of the rental property. It assures not only the security of the property but also the setting. Not complying with this law is a punishable offense; thus, all must strictly follow it.

Before drafting a final basic rental agreement, note all these aspects. Doing so will safeguard your property in all ways and give you a fine experience. Renting must be taken seriously and performed legally to avoid unlawful actions. Note all the aspects and make the most suitable bond to get accurate outcomes.

Template Preview

Basic Rental Agreement

Property: [Property.Name]
Address: [Property.StreetAddress]
[Property.City][Property.State][Property.PostalCode]

[Owner.FirstName] [Owner.LastName] (Owner) and [Tenant.FirstName] [Tenant.LastName] (Tenant) hereby enter into a month-to-month rental agreement for the above listed property (Property) pursuant to the terms of this agreement. This agreement shall commence on [Commencement.Date] and continue on a month-to- month basis so long as Owner and Tenant wish. This agreement is not a lease. If Owner or Tenant wish to engage in a formal multi-month lease agreement at any time, a separate lease agreement will be required. This month-to-month rental agreement shall be considered null and void upon (a) cancellation according to the terms below, or (b) signature of a formal multi-month lease agreement by Owner and Tenant.

Rent & Fees

Monthly rent for the Property is $[Rent.Amount] per month. Rent for each month is due in advance, no later than the 3rd of each month. Rent does not include any of the following, which are the sole responsibility of the Tenant:

  • Gas
  • Electric
  • Water
  • Trash
  • Internet/TV/Phone Service
  • Garbage Pickup

Rental Payment may be made in the form of cash, check, or money order at the following address:

[Owner.StreetAddress]     
[Owner.City] [Owner.State] [Owner.PostalCode]      

If payment is sent via mail, Tenant is responsible for ensuring payment is delivered to the Owner by the 3rd of each month, and is responsible for any late fees caused by delayed delivery.

If rent is not paid by ......am/pm on the of each month, Tenant agrees to pay a late fee of

$[LateFee.Amount] in addition to the monthly rent amount. If Tenant is unable to pay monthly rent in accordance with this month-to-month rental agreement, Owner reserves the right to serve notice to vacate the Property in accordance with [Property.State] law.

Occupancy

Property is to be occupied only by Tenant and their dependents (listed on the final page of this agreement). While Owner recognizes the Tenant's right to have occasional guests, Owner reserves the right to be notified of any guests residing in the Property for longer than (**) days in a given month.

Tenant agrees not to sublet, assign, share, or rent space to guests not listed on this agreement without prior written consent of the Owner.

Pets

Tenant agrees to have no pets residing at the Property without prior written consent from the Owner. The table below lists the pets which the Owner is currently aware of, and has approved for occupancy at the Property:

Pet Type Pet Description
[Pet1.Type] [Pet1.Description]

Deposits

Tenant is responsible for paying to Owner a refundable security deposit of $[Deposit.Amount] prior to establishing residence at the Property.

This deposit will be held by Owner for the Duration of this month-to-month rental agreement, and will be returned to Tenant if Tenant chooses to end this agreement and vacate the premises according to the cancellation terms below.

Owner reserves the right to issue partial refund of the deposit at the conclusion of Tenant's residence at the Property in accordance with [Property.State] law. This includes deductions for:

  • Repairing damage caused to the Property by Tenant & their guests
  • Cleaning beyond normal wear & tear
  • Unpaid rent, late fees, or utilities

Maintenance

Tenant is responsible for day-to-day maintenance of the Property. Owner agrees to perform routine maintenance including:

  • Annual HVAC Servicing
  • Annual Roof Inspection

Additionally, Owner agrees to be held responsible for any mechanical breakdowns within the Property, including plumbing & HVAC breakdowns not caused by improper use or neglect by the Tenant.

Privacy

The Owner recognizes the Tenant's right to privacy as required by [Property.State] law. Thus, Owner agrees to enter the Property only for the following reasons:

  • in case of emergency
  • to make necessary or previously agreed-upon repairs, modifications, or improvements to the premises

Agreement Cancellation

This month-to-month rental agreement may be cancelled by either the Owner or the Tenant at any time. To allow for reasonable preparation by both parties in the event of the agreement's cancellation, both Owner and Tenant agree to provide (**) days' written notice of their desire to cancel this agreement.

Approved Occupants

Owner hereby acknowledges and approves the following individuals for residence at the Property pursuant to the terms of this month-to-month rental agreement:

Occupant Name Occupant Age

This is a legally binding document. Please read each section of this month-to-month rental agreement thoroughly before signing. This document is intended to define the rights & responsibilities of all parties involved (property owner and tenant). If any issues shall arise during the duration of this agreement that are not specifically addressed above, such issues shall be resolved in accordance with the laws of [Property.Country] and the state of [Property.State].

[Owner.Company] [Tenant.Company]

  1. ENTIRE AGREEMENT This Agreement constitutes the parties' entire understanding and supersedes any prior agreements, whether oral or written. This Agreement may not be amended except in writing signed by both parties.

  2. GOVERNING LAW This Agreement shall be governed by and construed by the State of (STATE) laws.

  3. SEVERABILITY If any provision of this Agreement is held to be unenforceable, the remainder of this Agreement shall continue in full force and effect.

  4. HEADINGS The headings herein are for convenience only and shall not affect the interpretation of this Agreement.

  5. DISPUTE RESOLUTION Any dispute arising under this Agreement shall be submitted to binding arbitration by the then-current rules of the American Arbitration Association. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. The costs of such arbitration, including administrative fees and attorney's fees, shall be paid one-half by each party and one-half by the non-prevailing party or parties.

Signature of Photographer: __________________________.
Date: __________________________.

Signature of Client: __________________________.
Date: __________________________.

PHOTOGRAPHER: __________________________.
Name: __________________________.
Address: __________________________.
Phone: __________________________.
Email Address: __________________________.

CLIENT: __________________________.
Name: __________________________.
Address: __________________________.
Phone: __________________________.
Email Address: __________________________.

By signing this Agreement, both parties agree to the terms and conditions set forth herein. Date___________________. Signature of Photographer_________________. Signature of Client_________________.

PHOTOGRAPHER and CLIENT have read, understand, and agree to the terms and conditions outlined in this Agreement. This Agreement constitutes the entire understanding between the parties and supersedes any prior agreements, whether oral or written. This Agreement may not be amended except in writing signed by both parties.