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How to Create a Practical Crisis Management Plan [+ Templates]
Bad tenants are every landlord’s nightmare. However, more than half of 755 home landlords surveyed in the UK reported having disagreements over arrears, cleanliness, subletting, pets or breakages with their tenants. This reveals that quite a number of landlords still have to deal with rental disputes.
One way to avoid disputes that can cost you money and time is by having a solid lease agreement. This will ensure that you and your tenants fully agree on how or how not the property should be used.
In this guide, we discuss what a lease agreement really is, why you need one, as well as the things that you really need to include in yours. The best part? We’ve included 10 professionally designed templates for you to customize and send right away.
Let’s get started.
Here’s a short selection of 8 easy-to-edit simple lease agreement templates you can edit, share and download with Visme. View more templates below:
A lease agreement is a legal document that binds two parties; a lessor and a lessee. This document serves as a contract that clearly defines the relationship and expectations for both parties in regard to a rental property.
It’s common for rental transactions to happen through verbal agreements. But it is more legally binding and acknowledged when it is drawn up in writing and that is where the lease agreement comes in.
In the case of a rental property, the lessor (landlord) drafts out all the important information for the successful stay of the lessee (tenant). This will include the rental amount for the property and the frequency of the payment. It can also cover utilities or amenities, use of the property, duration of stay and more!
Lease agreements can differ based on the following:
You can either create a simple or standard lease agreement.
A simple lease leaves out information that may not be read by the tenant and is a simpler version of the standard lease.
A standard lease, on the other hand, includes every detail necessary for an effective lease and a successful relationship between landlord and tenant.
Instead of creating a standard lease agreement that is complicated, some tenants will prefer a simple lease agreement that holds only the major information needed to move forward with renting a property.
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A lease agreement contains clear responsibilities for the landlord and the tenant, binding them to an agreement and an obligation. Here are the top advantages of having a lease agreement
A lease agreement provides structure and establishes the expectations of both the landlord and the tenant in relation to the rental property.
Information regarding the ease of entry into the property, consequences for breach of contract, lease period, and length are all included in the lease agreement.
This gives both parties an opportunity to negotiate terms and clauses and come to a suitable compromise moving forward.
A lease agreement is the first legal document to fall back on when a dispute arises between landlord and tenant. This could occur due to property abandonment, wrongful eviction, or an unwillingness to pay rent.
Without a lease agreement, it will be your word against theirs. The lease agreement acts as a strong admissible piece of evidence to boost your case or claim and reduces the risk of potential loss of income and assets.
When the term of the lease comes to an end, both parties can meet to revise and negotiate a new lease or terminate the lease agreement. The views of both parties are expressed and considered before signing the lease agreement.
Remember that a lease agreement can differ based on property type and state laws. Notwithstanding, here are the major sections that should be included in your lease agreement:
You need to make sure that the full and legal names and addresses of all parties involved are written in the lease agreement. This information should correspond with all other legal documents and be clearly written beside the person's title (i.e., landlord or tenant). This will be helpful in identifying each party should the need arise.
The full address of the property, including the street name, unit number, and zip code should be clearly written in the lease agreement. Also, the type of property (house, apartment, condo, etc) should be stated, along with the number of bedrooms and amenities included.
You should clearly state what the property can and can't be used for. Stating these terms in the lease agreement can help avoid illegal use of the property that may cause excessive damage. For example, would you like the property to be strictly residential? Or would you allow certain business operations to occur?
It is very crucial to mention this in the lease agreement. Before setting the rental price, be sure to analyze the rental prices in your neighborhood to be sure you have a competitive and reasonable amount.
The monthly rental amount should be stated as well as what it does and doesn’t cover. Also, be sure to specify the payment method. Would you be collecting cash, a bank transfer or a check? Be sure to mention if you have other arrangements in mind.
In most cases, the rent is due and requested on the first day of every month. Specifying this in your lease agreement ensures compliance and can support your request for late fees if need be.
The amount you will charge for a security deposit should be included in your lease agreement (if you require one).
At the end of the lease term, you will be required to return the security deposit to the tenant and state the reason for the reduction (if any). All possible uses of the security deposit, like cleaning the property, fixing damages, and replacing property, should be stated in the lease agreement.
This is the timeframe when the lease agreement will be viable. You can have a fixed-term rental lease or a month-to-month rental lease.
A fixed-term rental runs for a specified or agreed-upon time. It usually takes about 11 months and above. While a month-to-month rental has no fixed end date. It renews every month until either party terminates the agreement.
A contract is only legally binding once the parties have signed it. So once all parts of the lease have been considered and agreed on, a signature will seal the deal and commence the lease agreement.
Depending on your preference or obligation, these additional sections or clauses can be included in your lease agreement.
We’ve put together 10 amazing lease agreement templates that you can easily customize and make your own today!
The templates already come with clear, easy-to-understand language and an appealing design.
This simple lease agreement has a bold, stunning border that helps the reader focus on the information written on the page. The use of bold text colors also makes it impossible to miss out on crucial subheadings. Even if you were just skimming through the contract, you would know exactly what it contains.
This template includes the terms and conditions of renting the property, including the standard rent the tenant should pay. It also draws up a list of all responsibilities the tenant and landlord must fulfill. Lastly, it creates room for this agreement to be signed in the presence of witnesses.
This commercial lease agreement is best suited for an effective lease of an office building, facility, restaurant or site of business operation.
It begins with information about the landlord and the tenant. Since it's a commercial lease agreement, it's vital to know if it's an individual or an entity that is leasing or renting the space.
You’ll find the type and use of property and rental terms that differentiate between base rent and operating costs. Other information, like taxes, landlord and renter's insurance and more is included in this template.
You can automatically add your brand colors, logo, and other assets to this template and all your branded documents using Visme's brand design tool.
Use this motor vehicle lease agreement template to rent out your vehicle over a period of time. The recitals list your vehicle details, the yearly and weekly rate, the duration of lease and the obligations of each party.
You can update the fonts and colors. Or browse through Visme’s extensive library of high-resolution photos to spice up your motor vehicle lease agreement.
This equipment rental agreement specifies the terms, responsibilities, and obligations of both the owner and renter when renting a piece of equipment.
The template includes stunning shapes and colors to make it stand out. It also has a specific table to list all equipment being leased and its serial number. Under terms and conditions, it states the use of the equipment, the mode of payment, and the insurance needed for the equipment under the renter’s care.
You can now edit your document anywhere and anytime with Visme’s new iOS app.
Customize your rental agreement on the go and share it with your renter with ease.
Do you wish to rent out only one room in your house or apartment? Use this simple and easy room rental agreement template to set the mandatory rules and boundaries for your tenant.
This template includes specific rules required of your tenant, including bedroom rules, kitchen use, cleaning duties and telephone/internet use. It also spells out the utilities included and how they will be shared.
These clauses have to be in your agreement to ensure a peaceful arrangement between you and the renter.
In case you have a new roommate and need to replace names across the document or other vital information, you can easily find and replace content in Visme’s improved document editor.
Do you have multiple rooms or want more than one “roommate”? This template is perfect for you. It gives room for the names of multiple tenants, including their rent amount, security deposit, and description of the rooms they occupy.
In the utilities section, the lease lists each utility and tenant, offering options for how they will split the bills. This is ideal for renting out multiple rooms because every tenant agrees on how they will handle each utility payment.
If you're a landlord that works with a team or needs to get suggestions from your consultant, you can easily use Visme’s collaboration tool. With this feature, you can allow everyone on board to contribute, receive real-time feedback, negotiate, and edit your lease agreement.
Use this professionally designed template to state the terms and conditions of a property or land you wish to lease.
It includes the full information of both parties as well as key responsibilities and obligations. With this lease agreement, you can state if you permit your land or property to be used for both commercial and/or residential purposes.
Use this template to clearly state how you will resolve disputes when they arise and if you plan to sell the property or land when the lease agreement term elapses.
This stunning commercial lease agreement template is perfect if you want a detailed yet simple lease agreement for your commercial property.
State the purpose, rent, and the party responsible for utilities and maintenance of the property during the lease agreement term. You can also include your terms for early termination of the lease agreement as well as approval or denial of alterations to the property.
In the instance where there is a negotiation of clauses or terms, you can easily update your document using Visme’s dynamic fields, making key adjustments in real time.
If you love a simple, straightforward lease agreement document, this is the perfect template for you. This template highlights all the major information needed for a successful lease and makes it extremely easy to read and assess.
Use this template when you want to lease your house or apartment. You can include a clause that addresses the tenant’s privacy, termination policy, and more!
When you’re done customizing this template, easily publish and share your lease agreement with your tenant through a link, invite, or any social media platform.
Have you been approved by your landlord to lease their property to a new tenant? If yes, use this assignment lease agreement template to list out all the terms of your new arrangement.
This template uses beautiful colors and shapes to spice up the document and make it very appealing. It includes the details of the landlord of the property, the assignor and the assignee.
It also includes a warranty, states the rights of the landlord to both assignor and assignee and has a miscellaneous section for anything that was missed out in the document.
You can track who has viewed your assignment lease rental with Visme’s analytics tool. Use this feature to see if your tenants have viewed your lease agreement. You can also control user permissions to ensure that only those on a need-to-know basis can view.
Creating a lease agreement puts both you and your tenant at ease and ensures that no important information is skipped or overlooked.
We’ve shared a wide range of templates to help you create your lease agreement. Find the template that best suits you and customize it to fit your needs.
And it doesn’t have to take forever! You can create and share beautiful legal and professional documents in minutes with Visme’s professional document creator. Go on, try it out and create your own lease agreement right away.
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