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Rental Agreement Forms

Rental Agreement – What should I Know?

The form you’ll want to use depends on your specific circumstances, and most property management companies use residential lease agreement forms that last for a fixed term and then automatically continue unless the tenancy is terminated by the landlord or tenant. Some property managers start with a rental agreement and then sign a lease once they know they have good tenants. You can use property management software to collect rent online and get paid on time after you have reached an agreement.

Rental Agreements are often oral and while they can provide freedom and flexibilty for both landlords and tenants,the variability can come with its own disadvantages. For example, a tenant may prefer not to commit to a fixed period (they may be in between jobs or going to school), but this allows for the possibility of rent increases or a notice to vacate from the landlord, which would otherwise not be possible with a long term rental lease agreement.

The first thing you must figure out about your Lease Contract is whether you are dealing with a periodic tenancy or a tenancy at will. A lease contract typically lasts for a fixed period in exchange for rent whereas a tenancy at will can last indefinitely. Lease agreements can only be terminated using a notice to quit form when there is a breach in contract whereas a rental agreement can be terminated at any time using the Notice to Vacate form. In the absence of a written lease agreement, law requires landlords to notify tenants to vacate the property if they want to terminate the tenancy. If the tenant is terminating the rental arrangement, they are required to notify landlords.





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