Do you rent or lease? Some people think that lease agreements are the same as tenancy agreements, yet contrary to their thinking, this is not true entirely.
Despite that lease agreements and tenancy agreements are different, both are legal binding documents that establish the terms of our residency. Some similarities of the lease and agreement are that they can be either oral or written.
However, if you are renting or leasing property legal counsels recommend that you demand a written agreement, which pulls more weight over oral agreements. Both lease and rental agreements cover common issues, i.e. rent amount, deposits, tenants, and so forth.
Length of tenancy is the main difference noted between a lease and rental agreement. In between the lines of both lease and rental agreements you will find “term” used often. This term is described in two fashions.
Synonyms are used to define conditions or rules in agreements. You may see clauses throughout the agreements or lease as well, which terms are used such as no pets, $600 monthly rent, duty of the tenant to move snow, or mow the lawn,” etc.
What this means is that you must pay $600 per month to the landowner for rent, not have any pets, and mow the lawn and move the snow.
Tenants who do not follow the rules, conditions, or terms in the agreements or lease is considered in breach of contract. The landowner in this case can terminate the lease or agreement by sending you an eviction notice.
Rental agreements are different from lease because of the length of time differences. Most leases are written for one year while rental agreements can be written for a shorter time. In this case, a month-to-month rental agreement is renewed each month after the rent is paid. If your landowner however gives you, a 30-day notice that he or she intends to change the length of the agreement, then that could change.
Landowners have more power with rental agreements than leases. If a landowner gives proper written notice, he or she can change your rent amount providing that it does not recede past the laws that state what is considered unreasonable rent.
When you sign a lease, both you and the landowner are obligated to that legal document for a set time, which is normally one year. Until that lease expires, your landowner cannot legally change the amount of rent, or terms in that lease.
If you have lease then your landowner will not be able to force you to leave unless you are in breach of the lease. The landowner could feel that you are a real pain in the butt, but without breach of contract by law, you do not have to leave until that lease expires.
Once a lease expires, you or your landowner can decide if you want to renew the lease. If one or the other decides that they do not want to renew the lease then by law both you and the landowner is free of the binds that tie you with the lease.
Despite that lease agreements and tenancy agreements are different, both are legal binding documents that establish the terms of our residency. Some similarities of the lease and agreement are that they can be either oral or written.
However, if you are renting or leasing property legal counsels recommend that you demand a written agreement, which pulls more weight over oral agreements. Both lease and rental agreements cover common issues, i.e. rent amount, deposits, tenants, and so forth.
Length of tenancy is the main difference noted between a lease and rental agreement. In between the lines of both lease and rental agreements you will find “term” used often. This term is described in two fashions.
Synonyms are used to define conditions or rules in agreements. You may see clauses throughout the agreements or lease as well, which terms are used such as no pets, $600 monthly rent, duty of the tenant to move snow, or mow the lawn,” etc.
What this means is that you must pay $600 per month to the landowner for rent, not have any pets, and mow the lawn and move the snow.
Tenants who do not follow the rules, conditions, or terms in the agreements or lease is considered in breach of contract. The landowner in this case can terminate the lease or agreement by sending you an eviction notice.
Rental agreements are different from lease because of the length of time differences. Most leases are written for one year while rental agreements can be written for a shorter time. In this case, a month-to-month rental agreement is renewed each month after the rent is paid. If your landowner however gives you, a 30-day notice that he or she intends to change the length of the agreement, then that could change.
Landowners have more power with rental agreements than leases. If a landowner gives proper written notice, he or she can change your rent amount providing that it does not recede past the laws that state what is considered unreasonable rent.
When you sign a lease, both you and the landowner are obligated to that legal document for a set time, which is normally one year. Until that lease expires, your landowner cannot legally change the amount of rent, or terms in that lease.
If you have lease then your landowner will not be able to force you to leave unless you are in breach of the lease. The landowner could feel that you are a real pain in the butt, but without breach of contract by law, you do not have to leave until that lease expires.
Once a lease expires, you or your landowner can decide if you want to renew the lease. If one or the other decides that they do not want to renew the lease then by law both you and the landowner is free of the binds that tie you with the lease.
RSS Feed