As a landlord, when you rent out an apartment to a tenant, you need to create an agreement made between yourself and the tenant. The document outlines the arrangement you have agreed upon. Creating a simple one-page rental agreement is serves the purpose well. The document allows the use of a property for an agreed-upon time period in exchange for rent.
Simple One Page Rental Agreements
What is a simple one-page rental agreement?
A simple lease agreement is a document created between a tenant and a landlord. The term of occupancy can be a fixed term or on a monthly basis with basic terms like start and end dates, utility responsibilities, and monthly rent. This type of agreement generally is for residential purposes only and it doesn’t include any required disclosures set by the state.
The importance of the agreement
The importance of a simple one-page rental agreement presents itself when disputes and problems during the lease terms arise. You can use the document to resolve the problem merely by referring to and reviewing it when needed.
Moreover, it also serves as a tool for communication that connects you with your tenants through agreed terms. The existence of this agreement ensures that you and your tenant have a mutual understanding.
Simple Lease Agreements
Is it the same as a rental agreement?
A simple rental agreement is a binding document between you and your tenant. Unlike this contract, a lease agreement is more suitable for long-term occupancy. A lease agreement saves tenants from facing a host of issues in the future.
What to include in this document
As the name of the agreement implies, a simple one-page rental agreement is only a page long and it covers issues like the monthly payable rent, start and end dates, and all of the responsibilities that each party assumes. If you download a blank rental agreement to customize, make sure it includes the following:
- The address of the rented property.
- The terms of your agreement
- Details about the security deposit
- The name of your agent who may act on your behalf in your absence.
- How your tenant may use the property rented.
- Who pays the utility expenses like power, water, garbage disposal, internet connectivity, gas, and sewerage.
- The terms and conditions of evictions.
- The payments you would have to make for utility and legal fees.
- Maintenance and care of the property by you and your tenant including what either of you handles.
- How to handle any damage or destruction of the property coming from different causes.
- Services interruptions and how to handle them if and when they happen.
- Renewables of the charges and when these might take effect.
- If you will allow your tenants to have pets, set the rules for this too.
Blank Rental Agreements
How to draft a simple one-page rental agreement?
Although the simple one-page rental agreement is only a page long, the substance of its contents makes it very effective. The contract includes every bit of detail as you incorporate everything you expect from your tenants. While you can easily download a fill-in-the-blank lease agreement online, it’s better to drat one yourself. Here’s how:
- Add the basic information
All lease agreements should include the following:
Your name as the landlord or property manager along with your contact details.
The name of your tenant(s) along with their contact details.
The address of the property that you’re renting.
The exact date when your agreement will take effect, along with the end date.
- Details about the security deposit
If you require a security deposit, include the details within the document. Since the amount of security deposits can vary in different state laws, include the amount you need for it and the mode of payment. The lease must also emphasize that you will return this security deposit in full at the lease’s end unless there are any issues.
- The rent amount and the payment date
Specify in the contract the total rent amount, the due date each month, and your preferred mode of payment. You can also specify late fees or any other penalties to discourage late rental payments.
- Details about the maintenance of the property
In one section, state and explain the responsibilities of your tenants with respect to the maintenance of the rented property. Also, part of this section is a list of all the available appliances and items in the property along with their current condition.
If necessary, include rules regarding what alterations to the property you will allow. Emphasized to your tenant that you will use their security deposit for any necessary repairs because of damages done to your property.
- A clause about sub-leasing
You may include this clause in case you might have to deal with such a situation sometime in the future. Specify whether you will allow subletting or not. If you will, specify that you as the landlord has the right to screen sub-tenants before finalizing any agreement.
- Include a concealed defect warning
It is your duty to inform tenants of any existing defects in your property. You must disclose all defects so you won’t have to explain an incident that might happen in the future. Moreover, this disclosure helps avoid any legal troubles later. It’s advisable though, to fix such defects before renting the space out.
- A statement about termination
After the lease contract has expired, specify the number of days you will allow your tenant to stay on the property if there they have no intention of renewing the lease. Also, include a section about termination and specifications on how either party can or should go about it.
Inform your tenant of the process and the results if they intend to terminate the agreement. In relation to this, check the termination laws in your state.
- Keep your agreement protected
Before finalizing your agreement, it’s recommended to have a lawyer go through your simple lease contract draft. Since lawyers are well-versed and familiar with property laws in your state, they can give you the proper advice. This ensures that your document will be both legal and valid.
Once you have had the document, keep several copies of it or better still, convert it into a digital document for safekeeping. You may also scan the document and save it on your computer after both of you have affixed your signatures.