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What Should Be Covered In A Good Lease Agreement?

A lease agreement is a written legal document that specifies the relationship between two parties, the lessor and the lessee. Once this document has been signed by both parties involved, it means that they have both agreed to adhere to the terms and conditions set out in the contract. In order for a lease agreement to be considered satisfactory; however, it should contain several elements. These elements or clauses are usually contained in rental agreements provided by Denver Rental Property Management and similar companies.

One of the most crucial items that should be included in the lease agreement is the details of the signing parties. This means that the names and corresponding addresses of the signing parties should be clearly stated at the end of the contract. The exact location of the property being leased should also be included in the agreement. The next important items that needs to be included are the terms that are being agreed upon. These should also be clearly and explicitly stated within the agreement. The amount being charged for rent should also be included as well as any provisions that are being made for a likely increase. A landlord might, for example, include in the agreement that the rental charge will increase by 10% every two years. Always remember that the rental agreement is a document that is legally enforceable, therefore very little room should be left for misunderstanding or misinterpretation in the finalized agreement. The agreement should also be in accordance with the laws of the state and should include any special policies or provisions that are being made by either party.

Source: homeguides.sfgate.com