A lease agreement for renting or Rental Lease Agreement can be defined as a form of legally binding contract drawn up for some rental property that clearly states the responsibilities and rights of both the landlord and the tenant. The landlord is basically the company or the person that manages or owns the particular rental property. The tenant is the individual who is renting a property. In a Rental Lease Agreement document, the Landlord is referred to as the “Lessor” and the tenant is referred to as the “Lessee.” When it comes to managing rental agreements for residential buildings, the Residential Lease Agreement plays a very crucial role.
Functioning of Residential Lease Agreements
As the name suggests, Residential Lease Agreements are used for various properties that are used by people for living. This is in contrast to the Commercial Lease agreements that are mainly used for different types of business properties. The Residential Lease Agreements can be used for a number of different living arrangements and spaces, such as apartments, houses, condos, duplexes, townhouses, mobile homes, rooms, trailers, attics, basements, in-law suites guest houses and vacation rentals. Drawing up the residential lease agreement provides both parties clarity as well as peace of mind while they are dealing with the practical and legal aspects of renting a residential place.
Currently there are many online sources that offer residential rental lease agreements for their users. One can simply visit these websites and use its resources to create a customized lease agreement for renting.
Please visit this site to get a sample rental lease agreement in Massachusetts.
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