The most important elements to include in a one-page rental agreement include the names of all occupants, the full term of the agreement, the rental amount and the responsibilities of the tenants. The document should also include a clause that states what happens after the agreement term expires.Continue Reading
A one-page rental agreement must state the names of all parties to occupy the property and include a section for each person to sign the document. This makes each tenant legally responsible for rent and damages. The agreement also needs to clearly outline how much the occupants must pay in rent and in what intervals they must pay it. Similarly, the agreement should include information about any other financial obligations, such as utilities or property maintenance fees.
Another important aspect of a one-page rental agreement is an explanation of the events expected to take place once the agreement ends. In many cases, once an official agreement ends both parties enter a month-to-month agreement, wherein the tenants only need to provide a 30-day notice to move out. Regardless of any state laws covering this scenario, the rental agreement needs to clearly outline the process for both continued occupancy and for vacation of the premises.Learn more about Real Estate