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A residential lease agreement is a legally binding agreement negotiated between landlord and tenant, when the potential tenant is considering renting residential property from a landlord or via an agency.

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Residential Lease Information

Alternatives to Residential Lease

A Residential Lease is also referred to as a:

  • Tenancy Agreement
  • Tenancy Contract
  • Rental Lease Agreement
  • Rental Agreement
  • Lease Agreement
  • Rental Contract
  • Tenancy Contract

What is a Residential Lease?

A Residential Lease is a legally binding agreement negotiated between landlord and tenant, when the potential tenant is considering renting residential property from a landlord or via an agency. The Lease includes address of the property, tenant and landlord contact details, an inventory of fixtures and fittings, terms of the lease.

The Lease can cover a wide range of issues including:

  • the period of the lease: fixed term or periodic
  • the rental fee, frequency payable and possibly options for payment
  • general or specific terms and conditions for rental increase
  • general obligations of the tenant, such as:
    • compliance with legal obligations
    • rights to decorate or make improvements
    • right to smoke in the property
    • guest and pet rules
    • operating a business from the property
    • sub-letting
    • other detail
  • additional fees payable by the lessee, such as:
    • deposit payable as security against loss or damage
    • charges applicable for late payment of rent
    • grounds maintenance or common areas charges
    • utilities
  • the landlord's obligations:
    • good repair maintenance
    • professional insurance
    • rights of access
  • incentives
  • option to purchase
  • tenancy renewal conditions
  • other detail deemed appropriate
  • date and signature of both landlord and tenant

Both the tenant and the landlord should keep a copy of the signed agreement for their records.

Frequently Asked Questions

  1. What if a Residential Lease Agreement differs from the law?

    • A Residential lease agreement is a legally binding tenancy agreement a Landlord and tenant of a residential space. It outlines the rights and responsibilities of both the Landlord and Tenant during the tenancy and cannot take away legal tenancy rights.

  2. What protections does a residential lease agreement offer?

    • There are laws which protect both tenants and landlords; the tenancy agreement sits within this framework, so where the arrangement does not comply with the law, the law takes precedent. The terms and conditions of any specific lease make clear the rights and responsibilities of each party, so that where breaches occur, either side may cite terms and conditions which refer to that given situation. Where there are gaps in an agreement, the law must be referred to.

  3. What happens when the landlord changes terms of a periodic tenancy?

    • The landlord cannot justifiably change the terms of a residential lease during any specified lease period. If the landlord wants to change the terms for a forthcoming period, the tenant may either accept these changes and continue to live at the premises, but on the new terms, or opt to give statutory notice to terminate the lease.

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Residential Lease Agreement

A Residential Lease is a legally binding agreement negotiated between landlord and the potential tenant. The lease includes address of the property, term of lease, tenant and landlord contact details, an inventory of fixtures and fittings and agreed terms of the lease.

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Month-to-Month Lease Agreement

A month to month lease agreement is vital for commercial and residential property rental businesses. It guarantees landlords predictable, protected cash-flow. Tenants enjoy flexibility of avoiding a longer fixed term rental agreement.

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Rental Application

A rental application is used by landlords to screen potential renter. It documents the personal and financial information about the potential renter. The goal is to give the landlord enough information to determine whether or not they will allow the potential renter to live or otherwise use their property.

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Sub-Lease

A sub-lease agreement applies between a person who is renting a commercial or residential property and another person or organization. It establishes terms and conditions for both parties. They normally apply during a period of absence of the primary tenant.

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