How To Create A Free Rental Agreement?

Whether you are looking for a property for the first time or you have been renting it for some time now, one thing which is very important to do is signing a rental agreement. Doing so will surely help you understand the terms and conditions of the contract.

To those of you who do not know what a contract is, well it protects both the tenant and the owner and offers all the details regarding the roles and responsibilities both as a tenant and a landlord.

If you are someone thinking about renting out your property or if you are a tenant, and the present owner does not have an agreement prepared, it is recommended to prepare completely free rental agreements.

Here in this piece, we will help you to design and implement a free printable basic rental agreement. Take a look

Rental Agreement: A Small Brief
Let us begin with the basics. What is a rental agreement? It is a document which outlines the roles and responsibilities of both the tenant and the owner related to the property they are giving on rent. The document cements the relationship amidst the owner and the tenant.

It provides a firm grounding for a successful and strong tenancy. The main motive is to make obligations clear to avoid the confusion. In addition to this, the same is done to ensure that both the parties have an idea about their own responsibilities.

The agreement will consist of all the details related to the property itself, in terms of the contract and the fees payable by the tenant. Once the rental agreement is signed by both the parties, they have to adhere to it. By any chance there are any discrepancies, the agreement can be used to find out which party is right.

When Is a Rental Agreement Needed?
You can enjoy the perks of preparing a free printable rental agreement, if:

You are an owner who wants to give the property on lease.
A manager of the property who is in charge of handling the property on behalf of the owner.
An owner who wants to lease a part of the residential property.

What Should Be Included in the Contract?
While you are preparing a rental agreement, all the below mentioned details should be included in the right manner.

The term of the lease, for example six months or twelve months.
The terms of contract renewal.
The weekly, monthly or annual fee.
The whole security deposit money value.
Name of the tenant.
Details of the tenant.
Name of the owner.
Details of the owner.
Contact of the tenant.
Contact of the owner.
Schedules rent dates.
Payment method
Access to amenities like gym, parking, swimming pool, etc if any.
Pet related policies
Rules for the guests
Penalties for late or missed payments
Terms and conditions for leaving the property.
Terms and conditions for damage to the property.

Steps to create the agreement
If you are creating the agreement, follow the below mentioned rules.

Do not forget to give a title to the agreement
Write the names and contact numbers of both the tenant and the owner.
Give the full name, address, and brief of the property.
Mention the agreed duration of the rental agreement.
Mark the start and the end dates.
Provide information about the rent paying date.
Mention details about utilities.
Include information about the maintenance.
Mention terms and conditions of the pets.
Outline the responsibilities of the tenants.
Add information about penalties if the tenant breaks the rules.
Give space for the signatures.

The Final Thoughts
These are some of the factors you need to keep in mind when preparing a rental agreement. We hope this piece has helped you gather all the information about the rental agreement procedure.