Free Lease Agreement Template

A lease is a contract between a tenant and landlord that allows the tenant to take temporary ownership of the property in exchange for regular rental payments. 

Around 100 million Americans live in rental properties, and many of these people have entered into Residential Lease Agreements. 

Leases are usually longer-term contracts covering many months or years, and they have set terms that cannot be changed frequently. 

A Lease Agreement could also be called: 

• Home Lease Contract

• Rent Lease Agreement

• Residential Lease Agreement

A Lease Agreement is a binding legal contract between both parties, and it typically specifies fees, the duration of the lease, and other rules. 

While Lease Agreements are for a fixed term, it’s possible for either party to terminate or alter the conditions of a month-to-month lease (with notice). 

On the other hand, neither party can change nor end a standard lease early.

Various types of leases can be used depending on the type of property being offered to tenants, including residential, commercial, industrial, advertising, and rent-to-own leases. 

In certain cases, a lease contract may also be used for other valuable items such as tools and expensive machinery, this is known as an equipment lease. 

In general, a Rental Agreement and a Lease Agreement cover similar terms and conditions. 

However, it is critical to understand the key difference between them to know which legal document to sign with your tenant. 

The biggest difference between a Lease Agreement and a Rental Agreement is the length of the contract. 

In most cases, a lease allows the tenant to live in a property with the conditions set for a year or more. 

A Rental Agreement on the other hand is a rolling contract that is renewed after each rental term has lapsed, usually on a month-to-month or week-to-week basis.

A Residential Lease Agreement or a Rental Agreement between a landlord and tenant can potentially run for many months or years. 

Therefore, it is essential to not leave out any terms, conditions, or information. Failing to include any of these details could lead to problems such as nonpayment of rent or evicting the tenant for whatever motive.

• The names and addresses of the landlord, property manager (if applicable), and tenant(s).

  

• The location and description of the residential premises that are to be leased.

  

• The duration of the lease.

  

• How often rent must be paid.

  

• The amount of rent that must be paid for each new rental term.

• Details on how much must be paid for the security deposit.

  

• The key terms outlining how the property may and may not be used e.g. whether pets can be kept.

  

• Information on which party is responsible for repairs and maintenance.

  

• Any additional fees or service payments that the tenant must pay on a regular basis.

  

• The rules on how either party must act if the agreement ends early. For example, if an eviction notice is served.

  

Remember, a Rental or Lease Agreement must conform to the landlord tenant laws in your state. When filling out the template, remember to keep this in mind. 

Use LawDistrict’s step-by-step Rental and Lease Agreement template toolto easily select the correct form for your state. 

Parties in a Lease Agreement

There are usually two key parties bound by a Lease Agreement contract. The landlord and the tenant. However, there are occasionally other stakeholders who might need to be factored in.

One such example is a property manager or rental agent. Landlords with multiple properties or rental units will often entrust the administration of their portfolio to a third party. These professionals act as an intermediary between the landlord and the tenant. 

In some cases, if the property is managed by an agency or hired employee of the landlord, it will also be necessary to include them in the Lease Agreement. They will often sign the contract on behalf of the landlord if they have been authorized to do so. 

Most rental properties are secured by a monetary deposit made by the tenant at the start of the agreement. Each state has its own rules on what landlords may and may not charge for this security payment.

Below you’ll find information on how much a landlord can legally demand a deposit and how quickly they must return the down payment once the agreement reaches its natural end or is terminated by agreement.

Lease disclosures and addendums

There are several important documents you should be aware of prior to and during the signing of the agreement. 

Before the tenant’s occupancy begins, you may be obligated to disclose certain information to them.

For example, if the rental property was constructed before 1978 you must provide a Lead Based Paint Disclosure Form to the incoming renter if the substance is found on the property.

You can also add changes (or addendums) to the contract, for example, raising the price of rent. 

The tenant must be given formal notice in with a Rent Increase Notice. This document must be given with a certain amount of notice based on the state where the property is found. 

During the tenancy, if the tenant fails to make rental payments, you can take action. Send a Late Rent Notice to the tenant and if they continue to fail to pay, you can begin eviction proceedings. 

When you prepare your Residential Lease Agreement, it can be hard to know where to begin if you don’t have a clear idea of what the final document will look like. 

If you need a little extra guidance on how your final contract will appear, simply review our Lease Agreement sample below.

In addition to Lease Agreements for tenants and landlords, there are several other legal documents that can be useful for landlords. If you are currently renting out a piece of real estate, or plan to do so in the future, it’s worth looking into the below forms:

• Rental application

• Eviction notice

• Month-to-Month Lease Agreement

• Lease Termination Letter

• Late Rent Notice

• Notice to Vacate Letter

• Sublease Agreement

• Landlord Recommendation Letter