Templates for legally binding rental agreements
Rental forms are useful in many different situations, from residential rental agreements between a tenant and a landlord to equipment or personal property rental agreements. These forms are legally binding and are used to spell out the exact terms and conditions of a lease or rental arrangement.
Equipment rental agreements and residential rental agreements protect the rights and interests of both parties. In the event of a dispute, these documents can be presented in court, and a judge can very quickly determine which, if any, party has violated the agreement and is therefore responsible for damages to the other.
Residential Rental Agreements
A typical residential rental agreement will indicate the date on which the contract comes into effect, which is usually the date the tenant moves into the property. Most residential rental agreements begin on the 1st or the 15th of the given month. The contract will also stipulate how much money is due to the landlord each rental period (and how frequently those periods are—most are monthly, but they can also be weekly, biweekly, bimonthly or quarterly). The landlord will also stipulate which utilities and services (gas, water, cable, Internet) the tenant is responsible for, if any.
Residential rental agreements also specify conditions that must be met for the tenant's habitation to continue and what grounds there are for the landlord to issue an eviction notice. Note that the legality of residential restrictions may vary from place to place. For example, while some provinces and states may allow landlords to veto pets, others have made it illegal for landlords to prohibit pets on their rental properties. You should always use rental forms that are specific to the region in which you live.
You can also get residential rental application forms, if you want to formally screen prospective tenants.
Equipment and Property Rental Agreements
With equipment and personal property rentals, the key terms are not only the duration and the cost of the rental, but also the condition of the item being rented. It must be returned in as good a condition as it was in prior to the rental, and if it isn't, there must be a contractual safeguard allowing the owner to exact a fee from the renter for the repair of the item.
Standardized forms are available to address each and every one of these situations. They are much cheaper than hiring a lawyer and contain all the clauses and legal language necessary for them to be binding if court litigation ever needs to be initiated.