A lease is a contract between a tenant and a lessor for the tenant to live in a property for rent for a certain period of time. Leases usually cover six or twelve months and the rent is paid monthly. In most cases, neither the tenant nor the landlord can change the term of the lease without the consent of the other. Sometimes early termination of a rental agreement may be allowed after notice. Deposit – The amount due at the time of signing the lease. This usually corresponds to one (1) or two (2) months` rent and is regulated in most countries in such a way that it does not exceed a few months` rent. Parking – A clause that is usually included in most rental agreements and that sets the parking situation of the property for the tenants` vehicles. Some States consider leases longer than one year to be long-term leases; in this case, they may be required by an authentic instrument. In general, it doesn`t take a lot of money to certify a lease (often between $5 and $10). If you`re not sure if you should notarize your lease, the small investment is probably worth it. A lease usually has a term of six or twelve months, but can be shorter or longer.
Depending on local laws and regulations, minimum and maximum limits may apply. A rental agreement covering a period that is not in accordance with local law is automatically invalid….