When you lease or rent a property you have to enter an agreement with the property owner or the landlord, in that case, you can either sign a rental agreement or a lease agreement. The document will define your relationship with the landlord or the property owner. It is specifically a contract between a landlord and a tenant. It sets forth the rights and the responsibilities of both the landlord and the tenant.
In most cases, it allows the tenant to make use of the property for some specific period plus utilize other structures on the land. Very important to have this contractor because it shows you the limits and what you are actually supposed to do. Ever wondered why the lease agreement is important . It is very important for certainty and clarity. It shows clearly what was agreed upon and no more. Shoes what the landlord is supposed to do and also what the tenant has to do. The landlord has to give property fit for purpose . The tenant, for instance, is supposed to pay rent or lease as agreed in the first place.
In case of a misunderstanding, the lease agreement will always represent what was agreed on . Having a lease agreement is very important because you can actually be on the safer side as it clearly establishes that you entered a contract. When leasing male sure you have it, and should be written.
A rental agreement on the other side is a contract usually written between the owner of a property and a renter. The , in this case, uses the property for temporary time as opposed to lease where it is usually for a fixed term. The contract establishes such things like the parties, the property and the term of rental.
You have been asking how this contract is beneficial to the parties, hold on you are about to know that. It is good as a legally binding contract, ensures that the owner and renter are always in good terms as no one violates the rights of one another, also ensures that all parties play their role effectively without any interference. In the event of any disputes arising between the renter and the owner the owner can actually claim the property with such, it is regarded as key criteria to possession .
Also, gives you the opportunity to set some clear boundaries from the off, like are the renter allowed to keep it or sublet the property. They are very helpful documents for property owners and renters because they shoe them what to do. When it comes to leasing and renting male sure you write them down and sign them to be safe.