Contract Templates > Rental Agreement Template
Rental Agreement Template
Customize and deliver this rental agreement in minutes. Your tenant can review from any device and sign immediately with built-in eSignature.
An apartment or house rental agreement is a contract that describes the relationship between a tenant and a landlord. It’s a short rental agreement that often lasts for 30 days and automatically renews itself at the end of the term. The only exception is if the landlord or tenant terminates the contract with notice.
A rental agreement benefits both parties. A landlord has the legal protection in place in case he or she needs to take action against a wayward tenant. Conversely, a rental agreement can help a tenant avoid an uncomfortable and illegal living situation.
The most important aspect to remember when drafting a contract is that it meets your state’s laws and addresses relevant issues of the tenancy.
The easiest way for a landlord to write one is by starting from a basic rental agreement or residential lease word doc. It’s a fill-in-the-blank lease agreement that addresses, in plain English, the terms and conditions of a tenant’s residency. It should include:
- the legal names of the tenants
- who can live in the unit
- the amount of rent to pay and its due date
- who pays for what damages
- times when it’s legal to enter the unit
From a basic rental agreement word document, you can address the issues that matter to your real estate rental business the most. Using a basic room rental agreement is better than a complicated one since tenants can easily understand what you require of them. Moreover, when your tenants understand expectations, there is a lesser chance of late payments or unreported property damage.
Keep in mind the rental agreements are most effective when your tenant signs it before he or she moves in. Some property owners take a laissez-faire approach to getting the agreement signed. A lot can happen in a short period, so it is better to protect yourself in the short- and long-run.
Simple One Page Lease Agreement
Landlords must know everything about landlord-tenant law in their state whether it’s feasible or not. The simplest way to protect yourself before problems arise is by putting a simple, one page lease agreement in place. There are many formats available online when it comes to finding a solid template to use for your business.
While people use the terms lease and rental interchangeably, there are critical differences between the two terms. Both are residential agreements that are legally binding, but they serve different purposes. A lease agreement tends to offer longer terms and various protections. It assures you of occupancy for a specific period.
While you can easily find a free standard residential lease agreement online, make sure that it is the type of contract you actually want to put into place. Remember a lease agreement is different from a rental agreement. A standard lease agreement PDF includes elements that address the longer-term issues associated with this type of arrangement.
There are genuine pros and cons of using a residential lease agreement form. On the one hand, a lease agreement offers long-term stability. If you know what your life is going to look like in one year, it’s a great option. It also works for people who want a set-it-and-forget-it approach.
However, there are some downsides to offering your tenants a lease agreement instead of a rental contract. For instance, you lock yourself into the terms and conditions of your contract for the specified time. That means, if the economy or tax code changes quickly, you can miss out on critical revenue generation opportunities.
When it comes to determining which contract works better for you, think about your long-term needs. Both contracts have their advantages and disadvantages. However, a rental agreement does offer you the flexibility to take a different course-of-action quickly if your circumstances suddenly, change.
Simple One Page Rental Agreement
If you are like many landlords, you may wonder if a simple or more complex contract is better to use.
Let’s set the record straight: it is much better to use a simple one page rental agreement versus using one that incorporates a ton of legal speak or legalese. Just because something looks like it’s better than a lengthy document, doesn’t mean that it is.
Contract law theory never advocates that a landlord should try to trap or manipulate a person into some gray regions of tenancy. It never works out in the end. Instead, try to find a simple rental agreement letter that your tenants can actually understand. The dividends it pays, in the long run, are well worth it. Plus, you save yourself the headache of trying to come up with a ten-page document.
When your tenants can quickly locate and easily review the terms of their tenancy, it gives rise to greater compliance. For starters, they can find the information.
Also, second, they can then clearly understand what is expected under the circumstances. Using dense legal language can intimidate tenants and cause them to act formal or awkward in situations where they otherwise feel competent.
Using a simple one page rental agreement word document does not nullify its enforceability in court either. A judge is never going to look at your contract and say, “This document doesn’t contain enough legal language!” In fact, the opposite may be true. He or she may appreciate the fact that you attempted to make the terms and conditions of renting your property easy to understand.
The bottom line is that a simple agreement is far more efficient and effective versus a document that is loaded with language that no one uses or understands anymore. Make your business and your personality seem more approachable with a straightforward contact that is easy enough for a general audience to understand.