A boarding lease agreement is a legal document that outlines the terms and conditions between a property owner and a tenant who is looking to rent a room or a space in the owner’s property. This agreement usually includes details such as the duration of the lease, rent amount, security deposit required, and the responsibilities of both the tenant and the landlord.
If you are a landlord looking to rent out a space in your property, it is important to have a boarding lease agreement in place to ensure that both parties are protected. Here are some key elements that you should include in your boarding lease agreement:
1. Rent and Security Deposit: The agreement should clearly state the amount of rent that the tenant is required to pay and when payment is due. Additionally, the agreement should outline the amount of security deposit required and the conditions under which the deposit will be returned.
2. Property Use and Restrictions: The agreement should outline what the tenant is allowed to use the property for and any restrictions that are in place. For example, if you do not want the tenant to have guests over after a certain time, this should be clearly stated in the agreement.
3. Maintenance and Repairs: The agreement should outline the responsibilities of both the landlord and the tenant when it comes to maintenance and repairs. This should include a list of what the landlord is responsible for and what the tenant is responsible for.
4. Termination and Renewal: The agreement should clearly state the duration of the lease and when it can be terminated or renewed. This should include any notice periods that are necessary for termination or renewal.
5. Pets and Smoking: The agreement should clearly state whether or not pets are allowed on the property and if smoking is allowed in the rental unit.
Having a boarding lease agreement in place is essential for protecting both the landlord and the tenant. By including these key elements in the agreement, both parties will have a clear understanding of their responsibilities and what is expected of them. As a landlord, it is important to review the agreement regularly to ensure that it is up to date and reflects any changes in your property or rental policies.