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A lease agreement in Arizona is a legal document that outlines the terms and circumstances of renting property. When a tenant expresses interest in a property, the landlord will typically use a rental application to check the tenant's financials and income. If all goes well, the parties will create and sign a lease, with the renter responsible for paying the first month's rent and a security deposit before moving in. Rental Application - The lessor should do a background check on all possible tenants to ensure that the applicant's job and financial statements are honest and true.
There are six types of rental agreements:
Rent to own: This is an agreement where the renter decides to rent a building for a fixed time frame with a choice of buying it before the rent period expires
Month-to-month lease agreement: This is a legal document that establishes a valid relationship between a landlord and a renter for the purpose of renting residential premises on a monthly basis. It is very flexible for both parties
Standard residential lease agreement: This agreement is the most common form of agreement, it is mostly used when renting a property for a one-year period.
Sublease agreement: This is a contract between the current renter and a new renter. With the landlord's permission, the current renter can lease out the apartment to a new renter before the expiration of his/her rent duration
Room rental agreement: This agreement is used when the landlord chooses to rent out just a part of the building. This contract outlines how rent and utility payments are being shared, rules and boundaries
Commercial lease agreement: This is used to rent out properties for commercial purposes. The annual rent is calculated using the price per square foot plus any triple-net expenses incurred by the tenant.
It can be difficult to understand some provisions of a legally enforceable contract. However, understanding the contract terms will help you avoid legal issues.
Highlights Necessary Items: The landlord's and renters' rights and duties should be spelled out in the residential or rental lease agreement. Items such as; names of all parties, type of lease, all fees, the purpose of the premises, proration period, pet policy, occupants, smoking policy, etc.
To make sure that the building is properly maintained
It creates time for the investigation of the contract
It insures the property owner against probable financial crisis
Security deposit law: The state is in charge of regulating the highest possible amount a landlord can obtain as a security deposit. The state also requires the landlord to specify the day this would be refunded and sometimes with an interest.
Eviction law: The landlord can make use of an eviction notice to dismiss a tenant who is causing problems or not paying rent or constantly causing damages that the security deposit would not be able to cover.
Dispute: If a dispute arises between the landlord and tenant during or after the duration of this agreement, they will undertake to hold negotiations in "good faith" before resorting to litigation.
Subletting: The tenant may not sublet the premises without the express permission of the Landlord. The landlord's permission to one subtenant does not imply consent to any subsequent subtenants.
Access: This is the right of the landlord to enter the property after it's being rented out.
Accidents: These are man-made or natural occurrences that can cause property harm ( flood, fire, earthquake, etc.).
Alterations: These modifications are changes made to a property.
Renter's Insurance: This is a paid coverage that protects personal property from theft and damage.
Severability: This is a clause in a lease that states that if one part of the agreement is void for any reason, the rest of the lease remains valid.
Condemnation: This is when the government seizes private owned property for a public purpose, such as building a roadway
Default: This happens when a contract is broken and continues to be broken, such as not paying rent or breaking other terms of a tenancy lease agreement.
Successor: A successor is a person who takes over a tenant's or landlord's lease duties.
Utilities: A personal or public service that provides gas, water, electricity, or garbage collection to a building
Waterbed: A waterbed is a sleeping device that is filled with water and is not normally permitted in most rental houses.
Firstly, obtain the form in either PDF or Word format using the links below. Using our document creator, you can make an authentic tenancy agreement.
Date the document because it's a legal form, all parties are then required to enter their names and mailing location. The lease type, number of occupants and the property( the location, number of bedrooms, and bathrooms) to be leased is written down.
The landlord specifies the types of furniture and appliances that are to be provided such as refrigerators, gas stoves, etc. All monetary aspects are to be carefully studied.
There are policies guiding the agreement such as pet policy etc, it must be studied and if the tenant cannot abide by the policies then there is no need to sign the form