A lease agreement or a rental agreement is a vital legal document that should be completed prior to a landlord renting property to a tenant. While both agreements are similar in nature, they are not the same and it is important to understand the differences.
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Rent / Lease Agreement
Renting your property without a clear rental agreement or lease is an invitation for trouble. The landlord-tenant relationship is complicated today, with laws and regulations governing all aspects of renting residential property. Landlords have more responsibilities, tenants have more rights, and small claims court makes it easy to take disputes to a judge. All of the details of your rental agreement should be recorded in a written lease or at least a month-to-month rental agreement.
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