Rental Agreement Contract Terms

A rental agreement is a written contract between a landlord and a tenant which gives the tenant the right to occupy a property for a short period of time (usually 30 days) in exchange for the payment of a security deposit and rent. Rental agreements are frequently used in the rental of vacation homes and investment properties located in resort areas. Vacation rental agreements may also be used by properties owners in cities that host the Olympics or other major sporting events such as the Super Bowl.

A rental agreement should not be confused with a lease. Although the terms are often used interchangeably, a lease is actually an agreement between a landlord and tenant which gives the tenant the right to occupy a property for six months or more. In exchange for the right of occupancy, the tenant agrees to pay rent and abide by the other terms of the lease.

Terms and Conditions of Rental Contracts

Certain terms and conditions are common both leases and rental agreements. These include:

• Description or Address of the premises being leased;
• Name and Address of Landlord;
• Name of Tenant;
• Term;
• Amount of Security Deposit;
• Forfeiture of Security Deposit;
• Rental Amount;
• Rent Due Date;
• Grace Period;
• Late Fee/Bounced Check Fees;
• Number of Occupants;
• Responsibility for Utilities;
• Subletting; and
• Pet Policy.

Vacation Rental Contracts

Vacation rental agreements may also contain provisions pertaining to the use of common areas and the waiver of liability by the landlord for damages or injuries suffered as a result of the tenant's use of the rented premises. Some rental agreements contain a provision which states that the tenant will be responsible for the court costs and legal fees of the landlord in the event a court finds that the tenant breached the rental agreement.

Getting Legal Help

Although there are many pre-printed rental agreement forms available at office supply stores and online, it's best to have an experienced landlord-tenant attorney draft the rental agreement for you. The attorney will ensure that the agreement does not violate the laws in your state. On the other hand, if you are a tenant, before you sign it, you should have an attorney review the rental agreement to ensure that it doesn't contain any illegal provisions.