A free rental agreement should include all aspects of the rental arrangements, from the dollar amount of the monthly rent to the date on which the rent is due. The agreement should also outline the rights of both the tenant and the landlord.
A free rental agreement is useful for both a landlord and a tenant. Creating a rental agreement as soon as the landlord-tenant relationship begins is helpful because both parties then have a record to refer to should anything go wrong during the course of the term. A standard free rental agreement should include the length of the lease and whether it may renew automatically; the name of the landlord, tenant and property managers; the dollar amount of the rent; the rent schedule and all applicable payment dates; and whether the landlord or the tenant is to pay for utilities. The agreement should also mention any privileges the tenant receives, such as parking or laundry facilities; security deposit information; pet and guest policies; late fee penalties; the conditions that may allow for early termination of the lease; and what happens if the property experiences damage during the course of the lease. A description of the rental property should also appear in a rental agreement.