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A Delaware rental or lease agreement is a legal contract that contains the guidelines, rules, and conditions for the rent or lease of residential property in Delaware. Filling out a rental and lease agreement is simple, all you have to do is read the form and provide the requested information. However, since rent and lease contracts are usually created in favor of the landlord, prospective tenants are advised to seek the help of a certified rent and lease agreement lawyer well-versed in the rules of the state before signing the contract.
There are various types and categories of rent and lease contracts. Some categories focus on the duration of the contract, while others focus on the type of property the tenant wants.
Fixed-Term (Standard) Contracts: Fixed-term contracts have an expiration date. They are used when a tenant wants to rent the property for a particular time frame at a fixed price. Fixed-term leases typically use calendar dates to determine the lease's start and end. The contract expires when the expiration date is reached, when this happens, the landlord and tenant may choose to renew the lease with updated dates and other information or not.
Automatic Renewal Lease Contracts: This type of lease is also known as long-term tenancy, it is automatically renewed after a predetermined amount of time. For example, the lease may be automatically renewed monthly, every six months, or yearly. The contract will continue to be renewed until either the tenant or the landlord gives adequate notice that they wish to terminate it.
Month-to-Month Lease Contracts: These types of rent and lease contracts are only valid for short-term rentals. They are used when a landlord only wants to rent out a property for a short while but still wants to enjoy the protection of the law. Month-to-month lease contracts are generally more flexible than other types of rent and lease contracts.
Short-Term/ Vacation Rental Contracts: Landlords use these types of contracts to rent a property for a limited time, most commonly as a vacation rental. These contracts are usually valid for any number of days between one day and a month. The contract should contain a detailed explanation of the rules set by the landlord as well as what the guests can expect when they arrive. If a person was to take a vacation with their family for example and needed to rent an apartment to stay for the duration of the vacation, such person would be presented with a vacation contract where they must indicate the number of days they would be staying and supply other essential information.
Sublease Contracts: For example, If a tenant rents an apartment and would like to rent out a room or part of the property to another tenant, they can use a sublease contract. Sublease contracts allow tenants to rent out a property or part of a property even to another person. Sublease contracts can also be used when a tenant wants to move but doesn't want to terminate their lease. Most standard rent and lease contracts usually contain rules and conditions for subletting.
Room Rental Contracts: A room rental agreement can be used if you are renting out or subletting a room on your property and want to establish specific boundaries and rules. These agreements are useful for establishing how you intend to split utility and rent payments, as well as any additional rules for guests. Room rental contracts can be used in addition to sublease contracts.
Commercial Lease Contracts: Standard rent and lease agreements usually provide a section for a tenant to indicate if they would be residing on the property or using it for business. However, a commercial lease agreement is the best option for a tenant who intends to rent a property to run a business. Commercial lease agreements can be used to rent the following:
Industrial establishments
Buildings for offices
Restaurants
Retail establishments
Land Lease Contracts: Land lease agreements are used to rent vacant land. Land leases can be used for a variety of purposes including renting out land for residential, commercial, or agricultural purposes.
Rent-to-Own Lease Contracts: For a rent-to-own contract, when the rental lease agreement expires, the tenant is allowed to purchase the property. These agreements are beneficial to tenants who are unable to purchase a property immediately while also allowing the landlord/seller to continue earning a consistent income until the sale is completed. Because there are so many nuances to consider when selecting the right type of rental lease agreement for your specific situation, it's critical to work with an experienced rental agreement lawyer who can assist you in creating an agreement that provides adequate protection.