Fillable Form Basic Rental Agreement

What is a Basic Rental Agreement?

A Basic Rental Agreement is a written document stating the agreement between a lessee and a lessor (referred to in this form as “resident” and “owner” respectively). The agreement contains the terms of the occupancy such as security deposit, payment details, and late charges.

Rental agreements are created in order to properly detail the responsibilities of both owner and resident in the management and use of a particular property. In the case of this basic rental agreement, the property in question is to be used for residential purposes.

Rental agreements tend to be set up over a relatively short period of time - i.e. a month, as opposed to lease agreements, which are agreements that cover much longer periods of time, anywhere from six months to a year or even longer. Because of this shorter time period, rental agreements are comparatively more flexible than lease agreements, and can often be negotiated more easily and more often (usually at the end of the monthly period or so).

Violation of the terms in a rental agreement (also known as a lease violation) will often incur consequences that are outlined in the agreement itself. Often, this will involve either additional fees or the termination of the rental agreement as a whole. However, depending on the nature and severity of the violation, the owner or the resident may still pursue further legal action as they see fit and according to the terms of the contract.

Rental agreements will often be written and rewritten to reflect the terms being negotiated by the owner and resident(s). Both parties will only sign the form after both parties are satisfied and accept the terms as outlined in the agreement.

Who needs to use a Basic Rental Agreement?

Rental Agreements are used by owners of a property and residents in order to come to an agreement on what terms should be followed regarding the use of the property.

Some more major or complex rental agreements may be advisable to review with the help of a lawyer, while some residents or owners may wish to have the agreement notarized.

• Owners of a property will draft the rental agreement in order to outline the terms and conditions by which they are allowing the resident to rent their property. These terms will often include things such as the set rental fee and when to pay it and other particular rules, such as the permission to bring pets into the property, or the fees associated with appliances in particular areas of the property.

• Residents of a property will be given the opportunity to look over the agreement and, if they wish, to negotiate the terms with the owner. With rental agreements, however, negotiation of terms can take place at the end of the month or whenever otherwise indicated in the agreement.

How to fill out a Basic Rental Agreement?

This agreement is very quick and simple to fill out. However, being a rental agreement, it is highly advisable that both parties (owner and resident) review the terms carefully in order to ensure that no issues are encountered during the renting period. Lawyers may be hired in order to ensure that all terms are reasonable and fair, and a notary may be contacted in order to ensure that fraud is absent as the agreement is made.

Preamble

Fill out the Preamble (the introductory first paragraph) of the form. Enter the name of the “Owner”, the name(s) of the “Resident(s)”, and the address of the property being rented as a residence in the spaces provided.

Item 1: Terms

Enter the agreed-upon amount to be paid on a monthly basis (rental fee) and the day of each month that the rental fee must be paid.

Item 2: Late Charge

Enter the amount to be paid in the event that the above payment is late or otherwise delayed, and the amount to be paid should a check be dishonored (and therefore treated as unpaid rent).

Item 3: Utilities

Enter any exceptions to the utilities the resident(s) must pay for based on their occupancy in the property here.

Item 4: Occupants

Enter any conditions that the owner set surrounding permission for any person to stay at the property for more than 15 days.

Item 5: Pets

Enter the amount of the deposit and additional rental fee to be paid in the event that the owner gives permission for the resident(s) to bring pets into the property.

Item 6: Noise

The resident agrees to not cause any noise that will disturb other residents living on the property.

Item 7: Destruction of Premises

In the case that any severe damages may occur to the property for any reason, either the owner or the resident may terminate this agreement. A three-day notice should be given should the agreement be terminated in this way by either party.

Item 8: Condition of Premises

All parts of the property are in good condition or otherwise, are in the condition indicated in the property condition checklist provided by the owner.

All parts of the property must be kept in good condition by the resident for as long as the agreement remains valid. In the event that the agreement is terminated all of the items must be returned to the owner in good condition except for reasonable wear and tear that might occur from the use of the appliances, and that all trash and personal property not belonging to the owner must be removed from the premises.

Item 9: Alterations

The resident is not allowed to make any alterations to the property without the permission of the owner unless it is required by law that such alterations be made.

Item 10: Property Maintenance

All trash must be disposed of in a clean and sanitary manner using the correct receptacles, which must also be kept clean by the residents. Maintenance and cleaning of kitchen and bathroom amenities, as well as plumbing, are also the resident’s responsibilities.

Item 11: Insurance

The owner is not liable for any damage to the property. Due to this, it is highly recommended that residents obtain insurance that will cover and losses sustained from possible property damage.

Item 12: Right of Entry and Inspection

After giving a 24 hours advance notice, the owner may enter, inspect, and repair the premises in case of emergency or suspected abuse or abandonment of the property. The owner is allowed to make any changes or repairs to the property that they see fit.

Item 13: Attorney Fees

In the event that legal action is taken against one party of this agreement by the other, the prevailing party must be reimbursed for all reasonable attorney’s fees in addition to the damages awarded.

Item 14: Receipt of Agreement

After reviewing all terms in the agreement, the involved parties must then sign the agreement in the space provided.

If either the owner or the resident(s) wish, this step may be accompanied by going to a notary to have the rental agreement notarized.

Tips when filling out a Basic Rental Agreement

While this Basic Rental Agreement is a very simple form to fill out, the fact that it is a legal agreement means that it is vital to review all parts of the agreement, not just the ones with spaces that require information to be entered.

Review the terms of the agreement. Make sure that you have read and understood all parts of the agreement before signing it.

Consider getting legal advice. While it is not required to have a lawyer or attorney read the agreement in order to properly sign one, the importance of reading and understanding each part of the agreement and ensuring that each part of it is acceptable means that having a legal expert to consult regarding the terms in the agreement is a great benefit.

Notarization. As with legal advice, having the agreement notarized is not required as part of filling out and signing a rental agreement, but you may wish to pursue it anyway. In this case to prevent fraud on either side, and to assure both parties that the other is aware of the terms and is signing the agreement of their own will.

Practice good contract management. Keep a copy of the agreement in a safe and organized space. This will be useful in case you wish to review or renegotiate the terms at some point in the future. Some legal procedures may also require that either or both the owner and the resident produce copies of the rental agreement.