Rental Agreement (Generic)
Build a relation between Landlord and tenant through Rental Agreement
The Free Rental Agreement (Generic) form is adopted while renting the house, apartment or townhouse. It is known to be a written agreement that needs to be adopted while renting even if the person who rents have a family.
It becomes leasor or agents responsibility to arrange the necessary agreement and hand over a copy to tenant even before they make a pay of money or commit to any tenancy agreement. The agreement may include few things and you need to fill up with accurate information to keep up a record.
The name and address of tenant should be provided along with dates or duration of tenancy. There is also the responsibility of extending the tenancy period once the duration comes to an end. The rent that needs to be paid by tenant should also be given in details.
The rent might increase and go into effect in the first month following the notice of increase. A 30 days prior notice should be provided to tenant before increasing the rent. This will give opportunity to tenants to decide whether they agree upon the increase of rent.
Any special terms related to keeping of pets etc, should be mentioned in agreement. It is the responsibility of any tenants to read documents carefully before signing contract. The printable real estate forms are easily available which can be filled up and each party has a document. On or before the day, tenants plan to occupy property, it is necessary to sign up agreement and give it back to agent within 5 days of receiving it.
THIS AGREEMENT is made this ___________________________ (Date) between _________________________________________________________________, of ___________________________________________________ (Address), hereinafter called Owner, and ______________________________________________________, of __________________________________________________ (Address), hereinafter called Renter.
The Owner warrants that to the best of his/her knowledge and belief the aforesaid property is free of faults or deficiencies which would affect its safe and dependable operation under normal and prudent usage.
The Owner agrees to rent the above-described property to the Renter for a period of _______________________ (Time Period), beginning _______________________ (Date) and ending _____________________ (Date).
USE OF PROPERTY
The Renter further agrees that the rented property shall  not be used beyond any rated capacity;  shall not be used for any illegal purpose;  shall not be used in any manner for which it was not designed, built, or designated by the manufacturer;  will not be used in a negligent manner;  will not be operated by any other person without the written permission of the Owner; and  will not be removed from the designated area of use or operation.
AREA OF USE OR OPERATION
The Renter agrees to operate/use the above-described property only at the following location or within the following described area(s):
The Renter hereby agrees that he/she shall fully indemnify the Owner for any and all damage to or loss of the rented property and any accessories or related equipment during the term of this Agreement whether caused by fire, theft, flood, vandalism, or any other cause, except that which shall be determined to have been caused by a fault or deficiency of the rented property, accessories, or equipment.
The Renter hereby agrees to pay the Owner at the rate of $ ________________ per _______________ (Daily/Weekly/Monthly) for the use of said property and any accessories/equipment. Any fuel used shall be paid for by the Renter.
The Renter further agrees to make a deposit of $ _________________ (Amount) with the Owner. Said deposit to be used, in the event of loss of or damage to the rented property and any accessories/equipment during the term of this Agreement, to defray fully or partially the cost of necessary repairs or replacement. In the absence of any damage or loss, said deposit shall be credited toward payment of the rental fee and any excess shall be returned to the Renter.
RETURN OF PROPERTY TO OWNER
The Renter hereby agrees to return the rented property and any accessories/equipment to the Owner at __________________ (Location) no later than __________________ (Date).
TERMINATION OF AGREEMENT
It is mutually agreed that the Renter shall have the right to terminate this Agreement at any time by payment of one full days rental for each 24-hour period or any part thereof, during which the Renter has retained possession of the property and any accessories/ equipment during the term of this Agreement.
IN WITNESS WHEREOF, the parties hereto hereby execute this Agreement.
Renter’s Signature Date
Owner’s Signature Date
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