Sample Residential Lease Agreement: Fill & Download for Free

What is the difference between rent and lease?When you are considering to rent out a property, you will need to decide if you wish to offer your tenant(s) a rental or a lease agreement. However, it looks that these terms are often used interchangeably, their meanings differ. Before you rent out your property, be sure to take into account the differences between a lease and a rental agreement so you can make the best choice for your situation.How are rent agreement, lease agreement, and leave and license agreement different from each other?Here are the most important differences everyone who is asking himself or herself this question should understand:Rental AgreementsRental agreements are often shorter and allow owners to rent properties that might not be desirable to long-term renters. A rental agreement differs from a lease agreement because it is not a long-term contract and usually occurs on a monthly basis. Such month-to-month lease agreement expires and then renews each month upon agreement of the parties involved. So they often have no long-term requirements. At the end of each thirty-day period, both you and your tenant are free to change the rental agreement (subject to local rental laws).Rental agreements, therefore, have more leeway. However, either the tenant or the landlord can alter the terms of the agreement at the end of the period. Think about changes like raising the rent asking the tenant to vacate the property or modifying the initial terms agreed. However, often both landlord and tenant need to mutually agree and give a period of notice before any modifications can be made. A landlord must give a proper notice to quit, however, prior to requesting the tenant leaves the property.This video shows an explanation of a sample rental agreement, that is also easy to modify for lease:Lease agreementsIn comparison to rental agreements, a lease has a set term, often for long periods of time, usually a period of 12 months, during which the tenant agrees to rent the property. A lease agreement is a contract between a landlord and a tenant that covers the renting of property, usually or more. The lease agreement is very specific in detailing the responsibilities of both parties during the lease and it includes all the necessary terms to provide protection to both parties.During the duration of the lease, both must adhere to the lease agreement. For example, tenants agree to make monthly rent payments and follow the other obligations in the lease. This ensures that the landlord cannot at random just raise the rent fee and the tenant cannot just leave the property whenever he or she wants to, without any consequence.The lease agreement is effective for the specific time mutually agreed and is then considered ended. If the tenants wish to remain in the property, both parties must enter into a new agreement. So, therefore, neither party is able to change any terms until the lease period expires. Unless both parties mutually agree to the change the terms. A lease agreement, on the other hand, is advantageous to a landlord by providing the stability of guaranteed, long-term income. It is advantageous to a tenant because it locks in the rental amount and length of lease and cannot be changed even if property or rent values rise.Leave and Licence agreementsA leave and license agreement is a specific kind of agreement wherein the licensor temporarily allows the licensee to use licensor's immovable property full or a portion of it, for the purpose of carrying business activity or residential use. A rental or lease agreement is creating a transfer of interest from the owner to the tenant. However, with a 'Leave & License,' it ensures that there is no transfer of interest from the Owner/Licensor ( person or company with exclusive legal rights over something other than selling) to the Licensee. It is a License to occupy and use the premises in the mentioned duration on mutually agreed terms.Source: Lease Rental Agreement template

Answer based on California operations.In my 40 years of landlording — let’s see, 80 units, average length of tenancy, say, five years, so that’s 400 lease agreements — we never even heard of, let alone used, a lease that explicitly self-destructed at the end of the rent lock-in period.That would be crazy.With a vanishing number of exceptions, all residential leases with rent lock-in provisions revert to month-to-month terms once the lock-in expires. I defy you to show me one that actually self-terminates.The practical significance of the rent lock-in is that, well, the rent is locked in. It can’t be raised during that time. So, you’re imagining that after waiting a year or two for the chance to raise the rent, the landlord immediately — no, no, don’t tell me, let me guess — asks the tenant to leave? What the [expletive deleted]…??Not my idea of astute landlording.If your landlord was just itching to throw you out, I’m assuming you must have done something truly horrible.The way the landlord gets rid of you is by serving you a 30-day or 60-day Notice to Quit, or else by raising your rent high enough that either you’ll move out on your own, or else the extra money will outweigh any other considerations.And, if you can point me to an online sample of a residential lease that self-destructs, I’ll — well — I’ll have two portions of Humble Pie.

REGARDING INDIA:Pro-tenant laws in India often inhibit rental market​Even with the application of the Lease and License Agreement system, it is still difficult for a landlord to protect his property from unwanted overstaying tenants. Even if contracts are enforceable in courts, the actual enforcement takes years or decades to accomplish.Rents: Can landlord and tenant freely agree rents in India?There are two types of tenancy agreements in India, Lease Agreements which are covered by rent control laws and Lease and License Agreement which are not.A Lease (or Rental) Agreement is covered by restrictive rent control laws. The amount of rent that can be charged is based on a formula devised by the local executive, legislative or judicial government, as the case maybe. For Delhi, the maximum annual rent is 10% of the cost of construction and the market price of the land, but the cost of construction and the price of land are both based on historical values and not the current market valuation. So the older your property, the smaller the rent you can charge. Rents can only be increased by a fraction of the actual cost the landlord has incurred in improving the property.The Lease Agreement transfers the right of ownership to the tenant for an indefinite period of time, which can be problematic because it encourages the tenant to claim the right to permanent occupation. In numerous cases, tenants have refused to relocate. When brought to court, these cases can take 10 to 20 years to resolve.Most landlords prefer a Lease and License Agreement. This agreement only grants the tenant a license to occupy the property for a period of 11 months, with an option for periodic renewal. Because the rent control laws (which are largely in favor of tenants) only apply for lease agreements of at least 12 months, establishing an 11-month agreement serves as a pre-emptive measure.To avoid complications, since landlord prefer these agreements, we will only discuss Leave and License agreements for the rest of the article.Deposits​Prior to occupancy, tenants usually pay a security deposit of three months’ rent. This is usually refundable at the end of the contract, if no other liabilities have been left unsettled. Deposits are expected to be returned within a month after the end of the tenancy, or as stated in the contract. Until the deposit is returned, contracts commonly stipulate that interest must be charged on the deposit, computed at a daily rate. Advance payments for six months up and full payment for 11 months are popular.What rights do landlords and tenants have in India, especially as to duration of contract, and eviction?Since Lease and License Agreements are designed to escape restrictive regulations, all terms are governed by agreement between landlord and tenant. Aside from the most basic condition that the tenancy is only for 11 months, everything must be stated in the contract. (For a copy of a sample l Residential Lease & License Agreement, click here.)Typical contracts include a provision that, if either party wishes to prematurely terminate the contract, three month’s notice must be given.The typical agreement also prohibits subleasing. To deter tenants from overstaying, experts recommend including a clause quadrupling the rent if the tenant does not leave when the contract ends.EVICTION FOR NON-PAYMENT OF RENTDuration until completion of service of process142Duration of trial24Duration of enforcement46Total Days to Evict Tenant212Courts: The Lex Mundi ProjectHow effective is the Indian legal system?Court proceedings of any type should be avoided at all times. Well-defined contracts will greatly help landlords to convince tenants that they (the landlords) are likely to win the case in court. As stated above, eviction cases can last up to 10 or even 20 years.LegislationLocal laws cover landlord and tenant agreements. Many local rent control laws such as the Maharashtra Rent Act 1999, Delhi Rent Act 1995, Tamil Nadu Buildings (Lease and Rent Control) Act 1960, strictly regulate rental agreements that are 12 months or longer in favor of tenants. If the monthly rent payable on a property exceeds Rs3,500 (US$76), the agreement is subject to the Transfer of Property Act (TPA), which assigns the landlord responsibilities including i) disclosure of information regarding material defects in the property and ii) uninterruptedoccupation of the property for the agreed period (subject to periodic visits by the landlord for inspection). In this case there are more grounds for evicting tenants, but the situation is still disadvantageous to the landlord.​Brief History: Recent changes in Indian landlord and tenant lawThe laws on landlord and tenants in India are archaic. The national government is encouraging local units to relax these laws to encourage investments in housing and construction. How fast will India will move to abolish its old system is very much questionable. The Maharashtra Rent Act 1999, for example, is slightly more pro landlord than the Bombay Rent Control Act 1947, but it does not still sufficiently protect landlords’ rights.