Definition
A lease agreement is the legal contract specifying rent, lease term, tenant and landlord responsibilities. Well-drafted leases protect both parties.
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A well-drafted lease agreement protects both landlord and tenant by clearly establishing expectations and rights. Leases should address rent payment terms, late fees, maintenance responsibilities, pet policies, lease renewal terms, and grounds for eviction. Using state-specific lease templates and having an attorney review is recommended to ensure legal compliance.
Pro Tip
Use current state-specific lease templates. Consider having attorney review annually.
Example
A 12-month lease specifying $1,500 monthly rent due on the 1st, with a $1,500 security deposit and 30-day move-out notice requirement