Exclusive Rental 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

I would have to guess. My guess is that you would be sued for whatever amount of money Corcoran would have been entitled to had it found the tenant for you. But to be sure, I suggest you speak to a real estate lawyer who handles landlord/tenant cases.You might want to just see if you can negotiate an out with the group. Perhaps it would be willing to let you out if you can explain why you are unhappy. Or perhaps it would be willing to negotiate a decreased fee. Or maybe it could solve whatever problems you are experiencing if you tell it about your concerns.

Have property management get involved. They have an OBLIGATION to hold you safe from other tenants misdeeds. Since the spaces are ASSIGNED they are violating conditions of their rental agreement. One tow should stop the boor from doing it twice. YOU might be able to have it done also IF you can prove, in writing that the space is EXCLUSIVELY YOURS (assigned spaces).