When drafting a lease, it is preferable that the most important elements, such as the lease and the duration of the lease, be negotiated between the parties in order to avoid the possibility of having to rewrite the document. Use a commercial lease if you are renting an office building, retail space, restaurant, industrial establishment or property in which the tenant operates a business. If you are sure to stay in your new apartment for a period of time, you should sign a two-year rental agreement, provided it is available. Although you lose the flexibility to leave without a lease after 12 months if it doesn`t work, the two-year bond has its advantages. On the other hand, long-term leases are not a guarantee. In my experience, about 50% of tenants end up in two years and leave prematurely. Use a short-term rental agreement to rent your property for a short period of time (usually between 1 and 31 days), usually as a holiday apartment. A short-term rental contract explains to guests the rules of their stay and what they can expect upon arrival. Use the glossary from A to Z to find out the specific terms of a lease. There is no point in having a two-year lease. If I were a tenant, the only reason I would sign a 2-year lease is because I am sure my rent will not increase for at least two years. Personally, a good tenant is worth more to me than doing an extra 5% per month, since 1 month of vacuum is about 8% – typical time I would need to find another tenant.
You should include the following information and clauses in a rental agreement: But you should be careful of tougher penalties. In extreme circumstances, a landlord may require you to make the rest of the rental period – even if the property is leased to another tenant before the expiry. In the example above, it would be to pay 12 months` rent for a place you have occupied for only six months. Some provisions may even require that your deposit be cancelled in addition to the additional rent. A one-year rental period is the most popular rental option for apartments, and for good reason. A year is long enough to know if you like an apartment enough to stay even longer, and it is short enough to give you the flexibility to move after a reasonable period of time (12 months) without breaking a lease and possibly paying a fine. If you decide that you love your apartment and have been a good tenant, you should be able to continue living there by renewing your lease. Use a monthly rental agreement if you don`t want to commit to renting your property for a whole year or more, but you still need to protect your rights. With a monthly lease, you (and your client) can be flexible. Termination – In most standard leases, there is no way for the tenant to terminate the lease. In case there is an option, usually it will come for a fee or fee for the tenant.
Use a lease to lease land on which there is no land. A basic land or rent can have several purposes, including farmland, residential and commercial land. You rent a room in your home using a rental agreement that says you only rent one room and not the entire property.