What is Lease Agreement Drafting?
A lease agreement is a legal contract between a landlord and a tenant that provides information about various aspects involved in renting a property. This includes payment due dates, parties’ obligations, and more.
If you need to write a lease agreement, you might not know how to navigate the process. Read the rest of this article to explore what key terms you should include in a lease agreement, additional tips to bear in mind during the drafting process, and how a qualified lawyer can assist you with lease agreement drafting so that your contract is professional and clear to protect both parties.
What Key Terms Must Be in a Lease Agreement?
A lease agreement should include the following terms:
- Parties. This identifies the landlord and tenant, including contact details for them.
- Property details. This includes the property’s physical address.
- Payment terms. The monthly rental amount that the tenant must pay should be clearly stated, as well as when payments are due. Escalation clauses must also be included for transparency.
- Deposit. This outlines the security deposit amount and how it will be stored. There should also be conditions outlined for how it can be returned.
- Duties. Both parties’ obligations, such as who will handle utilities, repairs, and maintenance, must be outlined so parties know what’s expected of them.
- Duration. How long the lease will run must be specified, with start and end dates.
- Rules. The tenant will have to follow certain rules, such as regarding occupancy limits. These should be clearly listed for clarity.
- Termination. How either party can end the contract earlier than expected should be included, as well as what notice periods are required and if there are penalties for early termination.
What are Tips for Drafting a Lease Agreement?
If you’re drafting a lease agreement, you should be mindful of certain things to ensure your contract is clear and fair to both parties. Here are some tips to consider.
Provide Property Details
Your property description should be specific and detailed, such as by including its physical address, unit number, and amenities. These include on-site storage or parking facilities.
Be Specific About Payment Terms
You should explain the rental payment terms, such as how much is owing every month. However, make sure you mention what is included in the rent cost for transparency. If there are late-payment fees, you should mention their cost and when they’re due. Don’t assume that the other party will know the information as this can lead to disputes.
Outline the Security Deposit
In some cases, you might make use of a security deposit. You should state its amount and how it will be refunded at the end of the lease.
Explain all Responsibilities
Your lease agreement must specify both parties’ duties. You should clearly explain who is responsible for repairs, maintenance, and utilities.
Set Occupancy Limits
As a landlord, you might want to specify how many people are allowed to live in the unit. Or, you might want to restrict the number of people who can stay in the unit overnight.
Include Privacy Provisions
To protect the tenant’s privacy, you should specify when or how the landlord is authorized to enter the rental property. For example, you might state that the landlord is allowed to do so for repairs or inspections, but they must give the tenant a specific number of days’ notice.
Outline Request Processes
During the lease term, the tenant might make requests of the landlord, such as if they ask for specific maintenance or repair work. How these are dealt with must be included in the agreement for clarity, along with the landlord’s contact information.
This clause in the agreement should be aligned with parties’ roles and responsibilities, in which you outline what both parties are expected to do during the term. If there are inconsistencies between these sections, they can cause confusion or disputes.
How Does a Lawyer Help You with Lease Agreement Drafting?
Although you don’t have to hire a lawyer to draft a lease agreement, it’s advisable. A lawyer knows exactly what to include in the document so you don’t miss anything.
A lawyer will help you during the drafting process in various ways, such as by:
- Evaluating your situation and property so that any special arrangements are included.
- Drafting your lease so that it’s comprehensive and legally compliant with all landlord-tenant laws, consumer protection laws, and local regulations.
- Avoiding ambiguous wording that creates confusion or misunderstandings between parties.
- Protecting your interests. For landlords, this includes clauses about late payments or property damage. For tenants, this could include privacy rights and protection against unreasonable penalties.
Besides drafting a lease agreement, a lawyer can also help you to review your document so that it’s legally valid and clear for both parties to understand.
Where to Find a Lawyer for Lease Agreement Drafting
If you’re looking for a reliable, experienced lawyer to help you draft your lease agreement, you don’t have to make calls to traditional law firms in your area. To save you time and money, you can use an online legal platform such as ContractsCounsel.
ContractsCounsel is one of the largest online legal marketplaces that gives you access to a curated network of vetted lawyers in your location. All the lawyers on the platform are experienced to draft a legally sound and clear lease agreement.
To request that a lawyer drafts your lease agreement, here are the steps to follow online:
- Go to the ContractsCounsel marketplace.
- Post your project for free. You can include a few details to help you find the most suitable lawyer.
- Wait for lawyer bids. Receive multiple bids from lawyers directly on the platform who have the experience to help you.
- Review the lawyers’ profiles. Take some time to go through the platform’s lawyer data, such as their location, client ratings for previous projects, expertise, and credentials.
- Connect with a lawyer you think is best suited to your requirements and hire them to draft your lease agreement for a flat fee.
