Who needs a real estate lease?
Anybody who owns a building, wants to rent a place for living, or needs a contract to establish the terms of a lease and determine the relationship between a landlord and a tenant needs a lease agreement. This form is a basic lease agreement.
What is a real estate lease for?
The real estate lease agreement establishes the rights and obligations of the landlord and the tenant. In this document they agree on the payments, terms of usage of personal property, and decide how many people can reside on it and how many pets are allowed (if any).
Is this lease accompanied by other forms?
There are no attached documents to this lease -- it does not require any approval as it is a binding document only between a tenant and a landlord.
When is real estate lease due?
Parties can choose the terms of lease on their own but usually it is either a one-year or two-year agreement. Both parties have to keep the copy of the lease agreement for three years.
How do I fill out a real estate lease?
There are 8 pages which cover all the necessary topics in the owner-tenant relationship. It starts with legal description of the premises, lease term and payments. The second page states there are no pets allowed in the premises, determines what furnishings will be provided by the landlord, what items of personal property the tenant is going to store and how many parking spots he can use. On the next pages, both parties have to settle on the issues of taxes, termination upon sale, destruction or condemnation of premises, habitability, defaults, late payments, holdover, cumulative rights, severability, waiver and binding effect. There is also a list of items of personal property which belong to the owner with comments about their condition. The last two pages are dedicated to a lead warning statement (disclosure if any lead-paint was used in the premises).
Where do I send a real estate lease agreement?
Usually it is signed by the owner and the tenant, but if it is a lease for more than a one-year period, parties have to check with local authorities if the agreement should be notarized or recorded.