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What Is The Residential Lease Agreement?

Renting an apartment is an excellent option if you don’t consider yourself ready to buy a house, if you’ll be living in a city temporarily or only on an off-and-on basis.

And a necessary part of any rental procedure is to complete a written agreement - also known as the Residential Lease Agreement. This document is very useful for both the tenant and the landlord because it specifies the quality of the apartment, the address, rules/regulations discussed and agreed upon between both parties, etc.

Having this document also reduces the chances of any disagreements, misunderstandings, or conflicts between the lessor and lessee. The terms regarding the length of stay and the agreed-upon rent are also included.

How to Complete The Lease Agreement Form?

The Lease Agreement template can easily be filled out with SignNow’s editor.

You simply need to open the blank form and select the “Text” tool. This is how you’ll fill out the sample with all the necessary information. Add the current date with the “Date” option and certify the document with your initials.

The sample contains the following information:

  1. The date of the contract and full names of both the lessor and tenant.
  2. The individual liability details.
  3. The tenancy term, that can be on a month by month basis or on another period previously discussed and (agreed on) by both parties.
  4. Payments regarding rent, in particular, any sums and penalties if it’s late.
  5. The security deposit sum and details. Normally it’s returned when a person moves to another apartment - but it might not be returned or refunded in-full if there are any damages to repair.
  6. If there are utilities or parking and if they’re paid separately or additionally.
  7. The responsibility for repairs and damages can be shared between both parties or covered by just one.
  8. Additionally, the form may contain rules/regulations related to liquid-filled furniture and any other provisions a landlord may consider to be additionally itemized.
  9. Finally, the template is signed by the landlord or his/her manager as well as all tenants.