Q:

What does a basic home lease agreement contain?

A:

Quick Answer

The contents of a typical home lease agreement include the tenants’ names, limits on occupancy, terms of the tenancy and amount of rent. A lease agreement stipulates the rules that tenants and landlords agree to follow for the duration of the lease.

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Full Answer

A typical lease agreement contains the names of all the adult occupants of the home. This is meant to make each occupant legally responsible for proper use of the property, the full amount of rent and all other terms. This enables the landlord to claim rent from any tenant if one is unable to pay or skips out on rent.

Limits on occupancy allow landlords to dictate how many people can live in a rental property, preferably those who have been screened and approved. It prevents the tenants from subletting the home or moving in with friends or family without prior permission.

The term of the tenancy dictates the lease period, usually a year. The length of the lease depends on how much flexibility the landlord wants from the lease and how long he wants a tenant to stay.

A typical lease specifies the amount of rent, how it is to be paid and when it is due. Landlords usually collect rent on the first of the month and accept personal checks or direct deposit payments. The rent clause should also include any grace period for payment, and penalties and charges for late rent or bounced checks.

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