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Lease Agreement and its Laws

21 Jul

Before going to have a look on laws of lease agreement, there is a need to know about what is lease agreement itself. Purpose of this contract is to form a relationship between renter and proprietor of property. What should be stated in a lease agreement can be well understood with the help of Lease Agreement Template. A lease agreement provides specific necessities regarding responsibilities and rights of the lessor and lessee. As lease agreement is a legal document therefore lease agreement laws are made. These laws are made to protect rights of landlord and renter. Lease agreement laws are made to avoid renters breaking leases. If renter breaks lease, he can destroy property as per his wish. Similarly, proprietors would have to maintain their property.

Lease agreements define the terms according which both renter and proprietor have to agree upon. All terms and conditions are stated in this contract. Once both parties agree, they signed this contract. Their signatures on this contract bound them to strictly follow this lease contract. If one of both parties disagrees with terms and conditions mentioned in this contract, they can consult each other to work those agreements out. If both of these parties do not come to an agreement, contract will linger valid.

Lease agreements are always signed for a length of time. Usually, time length for lease agreement is around three, six or twelve months although, its time length can be varied as per will of proprietor and renter. If renter does not want to continue this contract and wants to terminate it before its completion of time, proprietor will have to agree. If proprietor does not want to terminate this contract, in this situation renter must have a solid reason for termination of this contract to support his claim. A good point of having solid reason for termination is that renter can appeal court to let him out of lease. But, if renter breaks the lease without any solid reason, proprietor may file a suit to collect his rent.

When a renter signs a lease agreement, this is proof of his acknowledgment that proprietor of property has the rights to enter his property during normal business hours. Proprietor can visit his property when renter has asked about a maintenance issue or to just inspect the premises.

Amount of rent that renter has to pay to proprietor is a part of lease agreement. In case of expiration of lease, proprietor can raise the rent with a new lease but not beforehand. Renter is bound to pay the amount of rent both parties have agreed upon and not more than that.

Often, leases contain pet policies, too.  If a proprietor dose not allows pets on his property, renter must have to follow the rules otherwise; proprietor has a right to terminate the lease. Another issue that can be a cause of lease termination is maintenance. If proprietor finds something disturbing in maintenance issues for instance renter is ignoring maintenance issues, he can terminate lease.

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