by Administrator
20. December 2010 13:25
A lease agreement is usually signed between a landlord and a lessee when a certain property has to taken on a rent lease. It is very important to have documentary evidence of a lease agreement in a detailed form so that it can be of help in case any conflicts arise in the future. In case there is any kind of disagreement regarding the lease taken later on, neither the land lord nor the tenant will have to waste his/her time visiting courts of law and getting embroiled in legal controversies as the lease agreement will have taken care of all possible eventualities. You should thus hire a suitable lawyer while signing a lease agreement so that you are absolutely clear about the legalities of the contract that you are getting into. You should also keep the following points in mind while formulating such an agreement:
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If you are the lessee, you must be absolutely certain that the person who is leasing out a property to you is the actual and true owner of the property. The lease agreement should also state this fact and provide documentary proof of the same so that you are sure of not being defrauded in any way.
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Apart from containing the figure of the amount of rent, it will be in the interest of both the contracting parties to also write in the date on which it is to be paid in the rental lease. This will help avoid conflicts and issues and help set up a systematic method of rent payment.
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The rental lease should also clearly state the penalties to be borne by either party in case any of them wants to end the agreement before it officially comes to an end. The course of action to be taken should be listed while formulating the agreement.
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Another important point that must be covered in the rent lease is the question of how much authority the owner of the property has of visiting it while the tenant is staying there. It should be decided if due permission of the tenant will have to be taken every time the landlord wants to visit the property for any reason.
We at John Reider Properties, serve Killeen, Harker Heights, Copperas Cove, Fort Hood and other areas in Central Texas. For renting, buying and selling commercial properties, please feel free to contact us.
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