Rental agreement

 

A rental agreement is a lease between two parties, in which one party (the landlord) permits the other party (the tenant) to live in a certain property in exchange for a specified periodic payment of rent.

For the landlord, rental agreement documentation is used to minimise the risk associated with letting out a property. The most common concern for landlords is that the tenants will not be able (or choose not) to pay the rent. Ironically this is a concern that can only be partially addressed in the rental agreement. This is because the most common remedy for a non-paying tenant is eviction, and the rules for evictions in the UK are quite stringent. The best way for a landlord to minimise this risk is therefore to ensure that there is a large deposit requirement in the rental agreement. Landlord requirements for residential leases include maintenance of the property. It is therefore common for agreements to include terms specifying that any damage caused by the tenants is not the responsibility of the landlord, or that the cost of fixing the damage is paid for by the tenants.

If you are a residential landlord, rental agreement disputes can become quite expensive and problematic. One way for you to avoid much of the expense and time spent on resolving these disputes is to ensure all your leases are drafted in a similar way. That way once you encounter a dispute, it will be much easier for you to know what the lease says and how the law would treat the relevant clause.

If you would like to obtain legal advice on a rental agreement, Caven can put you in touch with a local property solicitor free of charge. So, if you have any questions or would like our help in finding local property solicitors please call us on 08001 221 2299 or complete the web-form above.

 

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