Free Standard Lease Agreement versus Standard Rental Agreement
A lease is something where one party has to pay periodic payments to the other, who is an owner, for residing in on his property. A free standard lease agreement is a form where a property owner comes in terms with the tenant in exchange of money. This form can be used for all sorts of rental properties ranging from personal property to vehicles etc.
The agreement process
As soon as the tenant is interested in the property, for a background check the owner asks the tenant to submit the lease application in order to get an idea about the past events of the tenant with other property owners. Moreover, rent and the initial security deposit is then decided. Every state in the United States have a legal maximum of how much an owner can charge from its tenant, thus, this can be taken into consideration.
Lease agreement vs. Rental agreement
The lease agreement is same as that of the rental agreement but has some differences as well. On one hand, a standard lease agreement is for a longer term whereas on the other hand, a standard rental agreement is a monthly agreement.
After every month, the owner and the tenant can change the initial agreement terms but this is not the case with the lease agreement. As they are made for a longer period of six months or a year, the terms can only be changed after that period of time. Hence, the lease agreements are suitable for the owners as they may benefit from it.