Lease agreement:
A lease is a
legal agreement by which the owner of a building, piece of land or something
such as a car or any asset allows someone else to use it for an certain period
of time in return of money.
- Simply it is a legal document.
- It
identifies an agreement between user and giver that the asset is given to
a user for a specific time period.
- It does
not renew after the time is over.
Importance of lease agreements:
Lease
agreements have importance in several aspects:
- All the terms and conditions are highlighted in
the lease agreement for renting out any asset.
- All details about the particular property or
asset that is leased entered in lease agreement.
- About the
one who is liable for lease is included in agreement.
- The lease agreement is solid proof to show in
court in the case of any disagreement.
- It can be ensured by lease agreement that
property will remain maintain.
- In case of any damage of property it is cleared
that who will pay as indicated in lease agreement.
- Lease agreement protects the rights of both: one
who give his property on lease (owner) and one who use asset of owner on
lease (lessee).
Lease agreement template:
For making
lease agreement, a lease agreement template is provided on web to assist you.
You can create proper, professional looking lease agreement by using lease
agreement template. This lease agreement template is created in a way that it
covers all aspects. You will not miss any important thing by using this
template.
Importance of using lease agreement
template:
- By using template the lease agreement created is
understandable for both owner and lessee.
- Use of lease agreement template is time saving
way to create lease agreement instead of making complicated agreement.
- Lease agreement templates are easily accessible.
- In templates difficult wording is avoided to make
it easy to understand.
- Many websites offer lease agreement templates
free of cost. So, it is free to obtain them.
Clause of lease agreement template:
Lease
agreement template includes just important clauses. After creating just take a
view that all basic clauses are included or not.
Here are
some clauses of lease agreement template.
Names of tenants:
This clause
identifies tenants, the person who takes asset on rent.
Name of landlord:
Name of
owner of the property is mentioned.
Both tenants
and landlord are identified by these clauses. Any case regarding to property in
court will filed against their names.
Mode of payment:
This clause
mention:
- Amount to be paid
- The mode that either it is per year, month or
week.
Responsibilities taken for damages:
Responsibilities
for damages of both parties are mentioned in this clause to avoid the quarrel
and confusion later.
Asset leased:
In this
clause about the asset is clearly mentioned that what has been leased out. The
assets may be:
- Piece of land
- Machinery
Deposits (security fee):
Deposits or
fees includes for leased out is written in this clause that must be paid.
Proper amount is mentioned in it.
Breach of lease clause:
It is an
important clause. In it results and consequences are mentioned in the case of
breach.
All the
clauses we mentioned above are for all kinds of lease agreements.
Other
clauses can be added for the lease agreement of specific object.
Specified lease agreement template:
On web lease
agreement template for specific assets are also available. For example the
lease agreement template created for machines, piece of land include some
clauses which are not added in usual templates.
Use lease agreement template:
No matter which
template you are using for making lease agreement both are customizable and
good enough to create professional looking and error free lease agreement. So
use handy, convenient and free of cost lease agreement template to do your
work.
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