The rental agreement, also known as a lease agreement, is a document relating to the determination of the responsibilities of the tenant and the landlord concerning the rental of a material good such as a car, a dwelling and premises. It must be drawn up in accordance with the standard model determined by the law of the country where the contract in question is to be executed.
What are the different types of lease contracts?
When we talk about renting real estate, it can be for dwelling or for work. There are many different types of leases. Firstly, there is the residential lease, where the owner provides the tenant with a home that has furniture or that is empty. Then there is the commercial lease, which relates to an economic activity (craft industry, agriculture, industry, trade). There is also the professional lease, which concerns the rental of premises for the liberal professions. Finally, there is the management lease. This is an agreement whereby the owner of a business makes the business in question available to a tenant-manager. This tenant-manager bears all the risks and must pay royalty fees in return. For more information on rental agreements, please follow this link.
The elements of a lease agreement
There are many elements to a lease agreement. First, there is the designation of the parties, i.e. the owner of the material good to be rented and the tenant who undertakes to pay the rent. Then there is the duration of the contract, which includes the beginning and end of the lease. There is also the financial part which indicates the amount the tenant must pay as rent and the method of payment. There may also be works to be undertaken. Schedules are also included. These indicate the obligations and rights of each party (lessor and tenant). Finally, there are the guarantees. These are the amount that the tenant must pay to the landlord on entry.
How is the lease contract managed ?
Lease management is the set of tasks to be carried out to ensure that the lease runs smoothly. The landlord can entrust the management to a professional intermediary or a property manager. If the landlord considers that it is not necessary to call for a professional, he can manage his property himself. Rental management consists of collecting rent and charges according to the payment method agreed in the contract, revising the rent annually, carrying out repairs if necessary, sending rent receipts to the tenant free of charge and initiating the necessary procedures in the event of unpaid rent.