Frank Roessler discusses what a lease is between a renter and a tenant in this in-depth presentational blog. Fore more information, pleas visit FrankRoessler.net!
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What is a lease between a renter and tenant - Frank Roessler
1. F R A N K R O E S S L E R . N E T
Compiled by: Frank Roessler
WHAT IS A LEASE
BETWEEN A RENTER AND
TENANT
2. F R A N K R O E S S L E R . N E T
Introduction
When agreeing upon the renting of different types of
property, tenants and landlords signify this mutual intention
by signing a lease agreement. The various aspects that are
included in these documents will vary from lease to lease.
There are, however, certain basics of leases that should be
known to understand general lease agreements.
3. F R A N K R O E S S L E R . N E T
An important first aspect to consider about leases is that there are a variety of different
property types that can be allotted to a tenant in a lease agreement, changing the type
of lease agreement being decided upon. For example, residential leases relate to
properties such as houses or apartments. Commercial leases, on the other hand, pertain
to office or retail spaces. Leases for advertising space, such as on billboards, industrial
leases, and leases for space on properties or rooftops for cell phone towers are less
common types of leases.
Different
Property Types
4. F R A N K R O E S S L E R . N E T
Different Tenant Types
Just as there are different varieties of leases, there are also different
types of tenants for each lease. The most common type may very well
be an individual seeking to dwell in a residential space for rent. Also
rather common is the circumstance of a retail store seeking to lease
room in which it can oversee the operation of a business; doctors,
offices, and businesses may seek space to operate their practices in a
similar vein. Landlords might decide to lease land out for tenant
parking or to a farm to put to agricultural use.
5. The simple purpose of a lease is to protect both the tenant and the landlord; it does this
by telling each side their expected responsibilities and obligations. As explained
by landlord tips,leases include the agreement’s length, monthly or yearly payment for
rent, how rent will be collected, and such matters as upon whom the burden of
necessary repairs falls. If either tenant or landlord is guilty of breaking any of the lease’s
terms, the lease is not binding any longer.
Some people confuse the terms lease and rental agreements. The two are both
contracts that relate to renting. However, a rental agreement is typically only for 30
days, whereas leases range from six months to five years, with the most common term
length being one year. Leases make these routine rental agreements feasible.
A Lease’s
Purpose