Lease Agreements for
Residential Landlords

Lease agreements are rental contracts formed between landlords and tenants which have a fixed-term specified for tenancy. These contracts can be either verbal or written, but it is normally better to have written contracts because they're easier to prove if necessary.

A typical residential lease has the following basic elements…

• The names of the landlord and tenant(s),
• A legal description of the property being rented (its address and unit number),
• The lease term and rental payment information,
• The individual lease clauses that specify the rules and regulations, and
• The signature section for both landlord and tenant(s).

A residential lease normally has a one-year rental term. Once a lease is signed and becomes a binding contract, its terms cannot be modified without the other party's consent.

To be enforceable, a lease must follow local and state statutes. From this perspective, it is wise to have a real estate attorney review your lease before using it for your rental property.

For more in-depth information about lease and rental contracts, please visit The Landlord's Library book collection. It's the ultimate, one-stop source for practical, in-depth information on the entire subject of residential landlording.

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Rental Agreements and Leases