A security deposit in a lease agreement is a sum of money paid by the tenant to the landlord before moving into a rental property. This deposit acts as financial protection for the landlord in case the tenant damages the property, breaks the lease, or fails to pay rent. The amount typically equals one to … Read more
When choosing between a month-to-month lease and a fixed-term lease, it’s important to weigh the pros and cons of each based on your personal or business needs. A month-to-month lease offers maximum flexibility, allowing either party to terminate the lease with short notice—usually 30 days. This is ideal for tenants who may need to relocate … Read more
Renting a home involves more than just getting a set of keys and paying monthly rent. When you sign that lease agreement, you enter into a legal relationship with the landlord, a relationship governed by the terms of the contract itself and, significantly, by a framework of laws designed to protect both parties. As a … Read more
Life happens. Circumstances change, sometimes unexpectedly, during the course of a lease term. Perhaps a tenant needs to add a roommate after their original one moves out. Maybe a landlord decides to allow pets after initially prohibiting them. Or perhaps both parties agree to slightly alter the terms regarding maintenance responsibilities. When these situations arise, … Read more
Stepping into the role of a landlord involves much more than simply collecting monthly rent checks and holding a spare set of keys. Owning and renting out residential property in the United States is a business, and like any business, it comes with a significant set of legal and ethical responsibilities. These obligations, defined by … Read more
Terminating a lease agreement legally in the U.S. requires understanding the terms outlined in the lease and complying with both state laws and contractual obligations. Most lease agreements include a termination clause that specifies how and when either party can end the lease early. Tenants or landlords typically must give written notice—often 30 or 60 … Read more
A Commercial Lease Agreement is a legally binding contract between a landlord and a business tenant for the rental of commercial property. Unlike residential leases, these agreements are more complex and negotiable, tailored to meet the specific needs of a business. Business owners must understand that commercial leases often come with longer terms, higher financial … Read more
Writing a residential lease agreement starts with clearly identifying the parties involved—the landlord (or property owner) and the tenant. Begin the document by listing their full legal names and contact information. Then, specify the property details, including the full address of the rental unit, and define the type of property (apartment, house, etc.). It’s important … Read more
Walk into any coffee shop where people are discussing moving, and you’ll likely hear the words “lease” and “rent agreement” thrown around almost interchangeably. “Did you sign the lease yet?” someone asks. “Yeah, my rental agreement starts next month,” another replies. It’s common chatter, and honestly, in everyday conversation, most people use the terms loosely, … Read more
A lease agreement is a written contract between a landlord and a tenant that explains the terms for renting a property. It clearly states who is renting the property, how long the rental will last, how much rent needs to be paid, and what each person is responsible for. This agreement helps make sure both … Read more