What makes a legal lease agreement?
Renting out your property or renting a property from a landlord should not be a difficult process, but it can become stressful when a tenant or landlord does not keep to their commitments in terms of the lease agreement.
One of the most important ways to ensure that your lease agreement is valid and that the terms and conditions are clearly agreed upon is to ensure that the correct information is contained therein.
We’ve put together a few pointers on what information should be included in a lease:
- The full names, contact details and, if possible, identity numbers, of both the tenant and landlord should be included,
- The full address and a description of the property to be leased,
- The amount of rent payable, when it will be due to be paid each month and the percentage or amount by which it may increase during the lease period,
- The deposit amount payable before the tenant takes occupation of the property,
- Information related to the care and maintenance of the property,
- The differing duties and responsibilities of the landlord and tenant,
- Information on how the utilities bills, such as lights and water, will be paid,
- Notes on how the lease can be terminated by the landlord or tenant and,
- The lease period and required notice period for terminating the lease.
Can we help you create a lease agreement for your property? Call us on 021 439 5208 to book a consultation.