A simple lease agreement is a legal document that puts forward pre-decided terms and conditions. This lease agreement is a one-page contractual agreement. It provides a structured outline of recommended terms and conditions to lease a property for a period of 1 year.
Simple One Page Lease Agreement
The simple one-page lease agreement is an agreement which is easy to understand by both parties involved. The property can be either commercial or residential. This agreement is a widely used format.
The main advantage of using a simple one-page lease agreement is selling/renting a property becomes easy. Since all related terms and conditions are easier to understand by tenants and landlords.
Therefore, a simple lease agreement saves your time and your energy to create one while you need it. Moreover, it protects the rights and interests of both parties during a legal dispute. You can safeguard your interests as a landlord as well as a tenant protect yourself from incurring monetary losses.
When Do You Need a Simple Lease Agreement?
A simple lease agreement is mainly for a period of 11 months. You can sign a lease agreement for a year while you decide to lease your property to a tenant. It lays down fundamental guidelines to lease out a property.
In the case of residential property, you can create a lease agreement for 11 months. A lease cannot be changed until it expires. However, the lease agreement for commercial properties is valid for three years.
Signing a simple lease agreement allows the landlords to answer a number of questions for tenants. Questions that may arise in due course of the rental term. The advantage of signing in is that a tenant will not be able to claim the owner’s property under any circumstances.
Who Needs a Simple Lease Agreement?
A landlord who needs to lease out his property and a tenant who needs to take a property on rent will sign a simple lease agreement. It lays down fundamental guidelines and answers all FAQs related to the property.
A simple lease agreement is a good tool to avoid any kind of legal disputes. Landlords and tenants use the simple one-page lease agreement to carry out an effective lease process. Additionally, It allows landlords and tenants to carry out a smooth and efficient leasing process.
A simple lease agreement is easy to understand. This type of agreement clearly lists down all communications and pre-described terms and conditions related to the leased property. It equips you to validate the essential information quickly and efficiently.
Moreover, state laws can be kept in mind while preparing the agreement. You can sign the lease agreement with two witnesses who know the tenants and landlords well. It also requires a stamp from the gazette officer appointed by the district court.
What Is Included In a Simple Lease Agreement?
A simple lease agreement includes the following details:
- Names of all tenants
- Limits of the occupancy
- Duration of tenancy
- Charges of deposits and maintenance of the property
- Restrictions to any illegal activities carried out by the tenant
Laying down detailed and fundamental guidelines avoids legal disputes. It also avoids any sort of confusion in the due course of the rental term.
A simple lease agreement should clearly state the duration for which the property has been leased out. You can clearly state that a tenant should keep the residential property clean and sanitized at all times.
As a landlord, you can clearly define the rent fixed for your leased property in the simple lease agreement. It helps you to carry a smooth leasing process. The tenants are responsible for maintenance and repairs on the property as well.
Conclusion
A simple one-page lease agreement is an effective way to lease your property. Therefore, your one-stop solution as you get access to a wide range of templates to choose from is CocoSign. You can get accurate and error-free agreements from CocoSign easily.