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Rental and Real Estate Contract Templates

The majority of the population of a certain age has entered into a residential lease at some point in life. This process could have gone smoothly with a great landlord and quality property. The experience could have also been a nightmare due to the lease being unreasonable in its requirements. The right fit could lead to years of the landlord and tenant having a rental agreement indefinitely.

For those landlords that own metaproperty complexes, the behavior of the tenants is also important. Nobody wants a low rental rate of units due to a few tenants that do not consider their neighbors when they act.

Commercial lease agreements are entered into by businesses and owners of commercial buildings/spaces. These properties are approved to have certain types of businesses run there. Plenty of these property management companies even handle the upkeep of the property along with handling utility bills, cleaning crews, and general building maintenance. Much like residential properties, the lease needs to be details and below will cover what should be included in both types of leases.

Residential Lease Agreements

A rental lease agreement needs to include the following to be valid and enforceable:

  • The names of all tenants, the landlord, and the address of the property being rented should be present.
  • The length of the lease needs to be specified as some vary from over a year to month to month.
  • The cost that will be paid and the date it will be paid by monthly/quarterly. Forms of payment are also to be detailed as there are various ways to transfer money in today’s digital age.
  • Code of conduct when it comes to the number of people living in the home. Noise requirements and parking should be covered as this can cause ugly neighbor disputes. You do not want people to leave their apartments or refuse to renew their leases due to one problem tenant.
  • Notice to vacate should be detailed as many people require written notice. If a tenant will not be offered to extend their lease this notice needs to be specified as well.
  • Fees that will be charged in case the lease is terminated early need to be stated. If a person can find a suitable person to sublease an apartment this usually negates the penalties. A landlord wants 100 percent occupancy when possible instead of spending months trying to find renters.

The lease is going to be the ultimate protection for the landlord in the cases of a damaged apartment or if a tenant repeatedly fails to pay rent. Eviction processes differ immensely by state so this is something to keep in mind as it can take the better part of a year to evict someone from a property in certain locations. Doing the proper research on the rental history of a tenant is imperative as neglecting to do so can result in disaster.

Commercial Lease Agreements

Most small apartments will cost you money but not financially ruin you if you sign a lease that you have to break. This is not the same for commercial property as the amounts that can be charged for these properties can be immense. The importance of understanding what everything means in the lease should also be viewed by a professional for both parties.

Types of Commercial Leases

Rent calculations fall into two categories which are net and gross. Gross means there is a single fee and the bill for utilities is covered as part of the rent. Net leases boast a lower rental fee but requires different expenses to be covered by the renter. A combination of both usually occurs due to a building covering something like water, electricity, or the internet.

All-Inclusive Lease

This is a type of gross lease where everything will be covered for a single fee like at an all-inclusive luxury resort. A business not having to worry about expenses like that of a cleaning crew or paying an electric bill allows the business to have more fixed than variable expenses. Below are tips to include in this type of lease:

  • Excessive water or electric use should be specified. This could lead the renter to cover property taxes as the owner wants to maximize revenue instead of losing out due to an unusual amount of electricity being used.
  • Listing what maintenance includes is important to avoid any type of confusion.

A renter will love this type of list as hidden charges do not change their overall rental costs for the month.

Single Net Lease

If the tenant is leasing half of the building in square footage, they will have to cover the taxes on half of the property. The fee includes a rental fee as well. The tenant will pay for utilities in this lease as well. Janitorial services will have to be covered but are optional. There is a double and triple net lease as well. These include the following:

  • The double net lease requires the tenant to pay their share of property taxes and the insurance on the property. Repairs are covered by the landlord along with maintenance on common areas. Utilities are covered by the tenant in this lease.
  • Of all net leases, the triple net lease is the most popular for retail stores. The tenant pays for insurance, taxes, along with a variety of other taxes. With owners of commercial spaces having immense advantage legally this is standard for many commercial properties.

What Should a Commercial Lease Contain?

Understanding there are different leases that require no certain documents is important. The penalties for changing or breaking a lease do not have limits as there are fewer protection laws for a tenant in these scenarios. Below are aspects that a commercial lease should include to be considered as secure for both parties as possible:

  • The rent needs to be included along with the duration of the minimum leasing of the property. There could be other tenants in the same building so specific which part of the property is being leased. New companies might not want to enter into a lease for a decade although with a discount a multiyear lease can be signed.
  • Late fees need to be listed along with methods of payment that are accepted. Bank transfers or automatic payment are common but other owners use less traditional payment methods.
  • The type of business that is going to be conducted is extremely important. There have been issues in the past where businesses have leased a space and brought a bad reputation to a strip mall. You do not want a daycare to be next to a biker bar. Listing what types of businesses are allowed in the complex can be important for the renter.
  • The amenities if it is a commercial office building with multiple companies. This could include parking spots, a gym in the building, or a restaurant that serves discounted lunches. The right amenities can convince some companies that want to give their staff more perks.
  • The security deposit amount should be listed along with when it will be returned.
  • The maintenance of the lawn, building, and HVAC systems will be specified.
  • Legal proceeding types will be specified which means mediation or court could be selected.

In today’s world commercial leases are still required for some businesses while others can be completely run remotely due to technology. Do not sign one of these as a tenant without a legal pro looking at it first as you might already have one on staff or retainer. The commercial lease could leave you personally liable depending on the terms in the lease.

Leasing Rental Space for Livestock

Being able to keep horses in stables, fed, exercised, and well-taken care of can be a full-time job in itself. This leasing of space is going to come with quite a few different details associated when compared to a residential or commercial lease. Below are some of the details that need to be stated when leasing a space for a horse:

  • Ownership of the horse should be established and specified this is not a transfer of ownership.
  • The outline for the care of the horse is important. Some people come to see their horses daily while others can only see them a few times a week.
  • The cost of the monthly fee for care, grooming, and other expenses needs to be listed.
  • Medical conditions should be listed as being blamed for a preexisting condition should not be done. A veterinarian checking out the horse before it starts boarding can be important.
  • For those leasing space for cattle, there might just be a simple transaction of how many cows the owner of the land will get.

Renting out real estate or space of any kind can be a stressful time. The security deposit combined with a few months of rent in certain circumstances is nothing short of a nightmare. Find a lease that will protect both the tenant and the landlord. Having a legal professional check these leases over is important. State laws might differ on tenant rights if you own property in multiple states.