In addition, if one tenant violates the lease or rental agreement, you have the authority to terminate the tenancy of all tenants, not just the offender. Rental contract This means that if one tenant skips out and fails to pay rent, you have the legal right to seek the entire rent from the remaining tenants.

Requiring all adult occupants to be official tenants provides landlords with additional insurance: Each occupant is lawfully dependable for paying the complete sum of lease and following to all other rent terms. Names of all Inhabitants and InhabitantsĮvery adult who lives in the rental unit, including both members of a married or unmarried couple, must be named as tenants and sign the lease or rental agreement. It's not only a legally binding contract that the parties can enforce in court it's also a highly practical document packed with important business details like how long the tenants can stay in the property and how much rent is due each month.ġ. Top Terms to Include in Your Lease or Rental AgreementĪ residential lease, also known as a rental agreement, is the blueprint for a tenancy: It specifies the landlord's and tenants' rights and responsibilities.

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