What is Apartment Lease Agreement?
A lease agreement is a written document that officially recognizes a legally binding relationship between two parties — a landlord and a tenant. Using an Apartment Lease, you can outline the obligations and rights of landlords and tenants regarding a residential rental property. Your Apartment Lease, also called an Apartment Rental Agreement, can include information like: the apartment's address and a basic description; the duration of the lease; the contact information for the landlord(s), tenant(s), and property manager; details about the monthly payment; security deposits; any pet or guest policies, as well as subletting, parking, and storage privileges; who will pay for which utilities; and more.
Other names for this document: Apartment Lease Agreement, Apartment Lease Contract, Apartment Rental Lease
What are included?
A simple residential lease agreement in writing will identify the following basic elements: - Premises: a house, apartment, condo, basement, or attic - Landlord: the owner of the Premise, aka “Lessor” - Tenant: renter who wants to live in the Premises, aka “Lessee” - Rent: amount of money paid by the Tenant to the Landlord - Term: length of time the Tenant has the right to stay on the Premises