A free property lease is customized with details unique to the lease agreement, such as the names of the tenants and the landlords, the address of the property and the amount of rent, states About.com. It also includes the date the lease goes into effect and its length.
In addition, a customized lease includes specifics such as a list of any existing furniture and furnishings, their condition and whether the tenants are responsible for them, as well as any special requests, such as where to park, states Zillow. Things such as who is responsible for utilities and upkeep of the property are spelled out in the lease, as well as whether or not pets are allowed, and if they are, any limits on number of pets, type or size, advises Nolo.
Depending on the laws of the jurisdiction, any concealed defects of the property that are known to the landlord are described in the lease, states Zillow. Other items in the lease that are tailored to the laws of the particular jurisdiction include security deposit amounts, whether they are kept in an interest-bearing account, and whether the resulting interest is returned with the deposit; any agreements governing termination of the lease; and what happens to unclaimed or abandoned property once the tenants move out, including any storage fees charged by the landlord.