Reasons to Use
- Understanding the Lease Terms. Both parties understand their responsibilities, including the rent amount, duration, and conditions for tenancy.
- Family Member’s/Tenant’s Responsibilities. Such as a security deposit, utilities, repairs, and any other obligations.
- Default. If someone doesn’t keep their end of the tenancy, the consequences if the lease is broken are outlined.
- Termination (month-to-month lease). If the lease is month-to-month, there should be terms regarding how much notice is required to terminate it.