What Is A Rental Agreement Letter?
A rental agreement letter is a document that outlines the agreements, and terms and conditions between the tenant and landlord. This document should be signed by both parties and typically the content has been discussed together. This agreement is used if multiple people are living in the same building. This agreement is legally binding so if one of the parties breaches the agreement, legal action can be taken.
Can I Write My Rental Agreement Letter?
Yes, you can write your letter at home. To make it easier, we provide you a sample of this agreement. You can also ask your attorney to help you arrange how your letter should be written. Of course, this must be discussed with the tenants earlier. Once you both reach the agreement, the letter can be typed and you can sign it.
Who Will Prepare The Agreement?
Typically, the real state agent that is hired by the tenant and landlord will prepare this agreement. The third-party will act as the witness and will sign the agreement too. Furthermore, the landlord is the person who keeps the original copy of the agreement.
Who Will Pay The Rent Agreement Cost?
The one who will bear the cost of the agreement is typically the tenants. However, in certain cases, the landlord also can provide this document and bear the cost.
Do You Have To Notarize The Rental Agreement Letter?
Because the letter is legally binding, you need to legalize or notarize it if the term is applied for more than a year. If it is under a year, you can sign it without being notarized in case you want to lose the restrictions or you are open to short-term leases.
What Will Happen When I Don’t Write A Rental Agreement Letter?
A rental agreement is important to protect the tenant and landlord. This consists of agreements that must be fulfilled by both parties. If you are putting your properties in this business, or you are someone who is looking for a place to rent, this is important to create an agreement to avoid misunderstanding in the future that might lead you to legal action.
How To Write A Rental Agreement?
Dear. Mrs. Steven
Here are the rental agreement’s terms with “Holand Leasing”. The landlord has agreed to rent the property located in Hidden Oack Community, 234B Saint crust, Atlanta, Georgia to you. The renting will be applied for a year starting from
December 14, 2020, and the agreement will end on December 14, 2021. Here are the terms and condition:
- The renting deposit which $100 will be paid on December 11 2020 along with the first last month’s rent. You can take the deposit if there is no damage to the property.
- The rental fee is $500 per month and must be received on the 1st date of every month. The money can be paid cash or transfer. If the payment is late, an additional fee ($200) will be added.
- It is not premitted to bring pets, and smoke.
Note: We encourage you to let other tenants know if you will have guests.
Please sign this contract and submit it to our office along with the deposit required.
I have read this agreement and accepted the agreements.
Hollad Leasing Representative