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Rental Lease

A rental lease is a lease that is used to rent property, usually over a longer period of time. Rental leases are usually renewable at the conclusion of each term, which ranges from a month, 6 months, to a year or longer. The rental lease grants temporary use of the property to the renter in exchange for payment, called rent. Rent is determined by the owner of the property, and tends to be paid on a monthly basis, although the specific schedule is made by the owner. Generally speaking, this type of lease also requires that the renter pay a security deposit. The rental lease is governed by a contract, called a rental lease agreement, that states and defines all the details of the lease. Beyond payment, the renter may also be obligated to comply with other terms such as bans on pets, bans on smoking, and any other terms decided in the agreement.

Fast Facts

  • landlords are normally responsible for maintenance in a rental lease
  • the rental lease agreement should be negotiated by both parties

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Articles

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  • Injuries on Rental Property

    Any landlord that owns property and leases or rents it out to tenants should have liability insurance on the p...
    • Site: lawfirms.com
  • Leases and Rental Agreements

    Renting your property without a written rental agreement or lease is a bad idea and could create problems down...
    • Site: lawfirms.com
  • Lease Terminations and Evictions

    The termination of the lease ends when the lease term expires. However, there are circumstances when the landl...
    • Site: lawfirms.com
    • 4 of 5 user(s) found this useful
  • Tenant Screening and Rental Agreement

    Landlords need to be cautious when screening tenants to avoid getting a bad tenant. Good tenants save landlord...
    • Site: landlordtenantlawfirms.com
  • Ending a Rental Agreement Early

    A rental agreement or lease is a binding contract.  This means that once you sign it, you are bound by its ter...
    • Site: landlordtenantlawfirms.com
    • 2 of 2 user(s) found this useful

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