How to write a rental agreement


A rental agreement is the one which is formulated between two parties, one being the owner of the property being rented and the other person renting the property. This agreement legally binds the two parties who are renting the property and it is also important to clarify all the terms and conditions of renting. The rental agreement can be regarding various things such as cars, houses or a flat, or some property. A basic purpose behind forming the rental agreement is that, adherence of any of its term by either of the party could lead to a legal action against the other.

Following are the factors which should be considered while drafting a rental agreement:

  • Since the agreement is binding two parties, name of both parties is mentioned in these agreements. It includes the name of the owner who is renting the property or a thing and the name of the person giving the rent. Full name of both the parties is compulsory.
  • Details of the things and properties being rented is to be listed in the agreement. One needs to mention the name of the property along with its location.
  • In the case where one rents a vehicle, the name and model of the vehicle is to be written, along with it the year of its making can also be noted down.
  • Since the terms and conditions to which both the party are agreeing is essential to the contract, all such terms and conditions are to be listed. Any negligence of any such term and condition could lead to a legal action against that person.
  • Both the parties need to sign the agreement in front of witnesses and their lawyers which make this agreement legally binding.
  • The date on which the agreement is signed and its validity is also mentioned in the agreement.

 

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Rental Agreement Template

Category: Sample Agreements

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