What is rental agreement doc?
Rental agreement doc is a preformed document that is used by the landlord and the tenant to formulate the lease agreement. This is kind of template can be used by anyone as there are blank spaces given to be filled in for the necessary information from both the parties. The main purpose of the rental agreement doc is to collect basic information about the agreement between landlord and tenant.
Rental agreement doc is available online for free downloading and can be modified to suit the individual needs of the landlord or tenant. The most important thing that should be kept in the mind is that this document has legal binding and in any case of judicial level it can be produced before the court of law.
What should you look for in this kind of document?
- This document should have provision for name of the tenant as well as land lord, duration of the lease and its renewal.
- It should signify what is the rent amount, when it should be paid, in what manner it will be paid and if there will be any charges for the late payment.
- The amount of security that has to be deposited in case there is any damage to the property by the tenant. Also, the normal wear and tear will be the responsibility of the landlord.
Make the rental agreement as detailed as possible so that there remains no misunderstanding regarding any point in the rental agreement doc.