What is Short Term Lease Drafting?
A short term lease is a legal rental agreement that has a short duration, usually for less than 12 months. If you seek rental flexibility, a short term lease can make sense. However, you should scrutinize the lease to ensure that all its terms are clear and balanced.
Read the rest of this article for clarity about how short term leases are drafted, what essential information they should contain, and why you should consider hiring a qualified lawyer to help you with the lease drafting process.
What are Key Terms in a Short Term Lease?
A short term lease should contain the following information for clarity and to prevent disputes between parties.
- Duration. Specify clear start and end dates.
- Payments. State the total rent amount as well as other payment details, such as the security deposit amount and payment methods.
- Occupancy limits. Set a maximum number of guests or residents who are allowed in the rental space.
- Rules. Outline all house rules such as regarding pets, smoking, and noise.
- Cancellation and termination. Include what notice periods are required for termination and if cancellation penalties apply.
- Expenses. Explain which party is responsible for costs, such as electricity and water.
- Sublease. State if subleasing the property is or isn’t allowed.
- Signatures. Include both parties’ signatures to confirm that they have read and agreed to the agreement.
How Should You Draft a Short Term Lease?
When drafting a short term lease, you must ensure all its terms protect both parties and prevent future disputes. Here are some drafting tips to consider.
Use Exact Dates
Avoid vague wording when explaining the short term duration. State exact dates when the agreement commences and terminates, as well as the dates on which the tenant must occupy the property and vacate it.
Explain all Payment Terms
Clearly establish the rental amount that must be paid and when rent is due. Include payment details to prevent challenges such as late or missed payments, such as approved payment methods and late-payment fees.
Include Security Deposit Information
When outlining payment terms, don’t forget about the security deposit. State the deposit amount and when it must be paid. Explain how it will be kept and what conditions trigger its refund.
Outline Parties’ Responsibilities
You want to prevent disputes by stating what parties are responsible for under the agreement. For example, the landlord’s responsibilities could be maintaining the property and respecting the tenant’s right to privacy. By comparison, the tenant will be responsible for paying rent by the stipulated deadlines, reporting damage, and not subletting the property unless this is included in the agreement.
Provide Restrictions
You should specify what restrictions the tenant will need to follow, such as regarding keeping pets, smoking on the property, playing loud music, and more. These should be added to permitted activities for clarity. Only include restrictions that are lawful.
How Does a Lawyer Help You with Short Term Lease Drafting?
If you need some guidance when drafting a short term lease, a lawyer can help you in several ways. They’ll:
- Identify parties and the property. This ensures clarity about who and what is involved in the arrangement.
- Specify the lease term. A lawyer will provide details about the commencement of the lease, its expiry, and how or when it can be renewed.
- Explain rental terms for clarity. They’ll clearly establish the rent amount, payment dates, deposit amounts, and any additional charges. This prevents future financial risks and losses.
- Allocate responsibilities. To prevent disputes, a lawyer will explain which party has to handle repairs, cleaning, utility charges, and upkeep of the property. They’ll provide details in the agreement to protect parties.
- Include termination clauses. If you need to exit the short term lease, a lawyer will protect you by establishing how to end it, such as with notice requirements and mentioning if there are any consequences.
- Address liability. An important consideration is who is responsible for things that could go wrong, which a lawyer will clarify. They’ll state who will handle property damage and other incidents.
- Align the short term lease with relevant laws. A lawyer is skilled at ensuring all terms in your short term lease are compliant with rental laws and regulations to prevent non-compliance issues.
- Review a short term lease. If you’ve drafted your short term lease agreement, you can hire a lawyer to look over it so that you achieve peace of mind that it’s clear, balanced, and fair for both parties.
Where to Find a Lawyer for Short Term Lease Drafting
Searching for a qualified lawyer doesn’t have to be a stressful experience. Online legal platforms make it easy to connect with a lawyer who’s reputable and has contract drafting and review skills.
ContractsCounsel is one of the largest online marketplaces that gives you access to a curated network of lawyers who have been vetted on the platform. You can easily ask a lawyer on the platform to draft your short term lease agreement.
Here are the steps to follow:
- Visit the ContractsCounsel marketplace.
- Select ‘One-time project’ and ‘Create or update contract.’
- Post your project, which is free. It’s helpful to include details about your lease to provide more information and connect with a suitable lawyer.
- Wait for bids. You’ll receive multiple bids from lawyers directly on the platform who are ready to assist you.
- Review the lawyer data. You can explore various information about the lawyers on the platform, such as their location, expertise, years of experience, credentials, and client ratings.
- Choose a lawyer who meets your requirements and hire them to draft your short term lease agreement for a flat fee.