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A Georgia rental and lease agreement is a legal document that establishes a contract between a landlord and a tenant for the use of property in exchange for payment. The parties agree on and outline the accountabilities for utilities and services to the property in the agreement. A rental application is usually used by the landlord to verify the tenant's credit and employment before signing. After the tenant's financials have been approved, a lease will be written and signed, with the tenant required to pay the first (1st) month's rent and security deposit (if any) before move-in.
1. A standard residential lease agreement is the most commonly used landlord-tenant contract. It is fixed-term, the period will usually last for one (1) year after which the tenant can decide to switch to a periodic lease and pay rent every month, or renew the fixed lease agreement.
2. A month-to-month rental agreement is a contract with a term that continues to renew every month. It is also called a periodic lease agreement because it is subject to automatic renewal after 30 days. The lease will keep renewing itself until one party provides a notice that they do not wish to renew the lease after the next period.
3. A commercial lease agreement is used when a business is looking to rent a space for its activities. Businesses would usually rent space instead of purchasing one to save capital. A landlord would use the commercial lease to define the terms and conditions for renting that space. This lease usually emphasizes policies for maintenance and refuse disposal.
4. A room rental/roommate lease agreement is created by a landlord for people looking to share an apartment unit. The lease usually outlines the renting terms of the landlord as well as the terms agreed on between the tenants/roommates.
5. A rent-to-own lease agreement gives the tenant a chance to buy the property at the end of their lease term. This type of lease usually also presents the terms of sale of the property as well as the property purchase amount which is separate from the rent fee.
6. A sublease lease agreement is created by tenants looking to rent out part of the property they have paid for in exchange for a fixed or monthly fee. The original tenant would then be known as the sublandlord and the third-party tenant as the subtenant.
Before one embarks on taking a rental agreement, there are a few relevant points to consider which are;
1. How long will the lease be valid
Some landowners and management companies provide terms of the lease varying from six to eight months. Generally, a standard lease lasts for 12 months. Ask your potential landlord if the rental agreement is customizable in the tenancy agreement. Also, ask if the managing company can offer a monthly lease refund if you sign a longer lease.
2. Rent payment instructions
Remember that each landlord and organization is unique, so make sure to confirm their specific rental payment procedure. Inquire about when and how you can pay your rent, as well as whether there are any late fees if you are late or miss a payment.
Also, ask about the proration policies if you wish to move out before the end of the lease term, a good policy will only require you to pay off the lease for the period you are living in the facility. For example, if your rent is $1,000 per month and you consider moving in the middle of September, your prorated lease for just that month may be fairly close to $500.
3. Find out if it is necessary to have tenant insurance.
Tenants may be required to have renter financial protection from their landowners or property managers. A resident's insurance plan protects your items if they are robbed or destroyed by a covered danger, such as a fire. Tenant's protection might provide compensation in the event, which can shield your finances if you are found to be genuinely responsible for another person's injuries or damage to their property. It is prudent to consult with your insurance company to determine which coverages are appropriate for your situation.
4. Ensure to know what is included in the rent amount.
Make certain to inquire with your homeowner and property manager about the utility services included in your lease. Ask for specifics, such as which utility services you are responsible for or what the house owner will cover. You should also inquire about comforts such as car parks, grass cutting, stockpiling, and three swimming access. Because, based on the lease, these kinds of services and luxury items may incur additional costs.
5. Make certain to know if the security deposit is refundable.
Security deposits are usually repayable if the conditions of your rental agreement are followed and there is no destruction to a facility. If you breach your tenancy agreement or cause serious damage to your rented property, your property manager may retain all or a portion of your security deposit to cover the expenses.
Download the document.
A free Georgia lease agreement template form can be accessed in Word or PDF format on this page. Conversely, you can create a personalized lease agreement using our document generator.
Make sure to fill in the blanks and tick the boxes as needed:
The agreement's date.
Full formal name and mailing address of the landlord
The full formal name and mailing address of the resident.
The type of lease, whether fixed or monthly.
Other occupant specifics.
The property's description.
A description of any additional personal property being sold.
The property's use, whether residential or commercial.
Information on the rent that has been paid.
The possibility of incurring a late fee.
Period of proration.
Right of way and parking space
The smoking policy.
The policy on pets.
The noise policy.
Policy for visitors.
The right to sleep in a water bed.
Notice period length.
The maximum amount of time for abandonment.
Dispute resolution.
Provide the details on the amount ($) due at signing.
After providing the requested information, fill in your all parties must fill in their names and signatures, as well as the landlord's and agent's, as well as the date you signed this document on the last page of this document. This is noteworthy because it validates the contract.