Most real estate agencies have their own, proven lease template that they use when renting out properties, and of course everyone swears by their own contract. Many times, landlords have their own ideas about what rules should appear in the lease.
But what makes a lease to be good?
First of all, it should be clarified that a contract is a bilateral declaration of rights, based on the common will of the parties and on a common understanding, which creates rights and obligations for the parties. The purpose of our article is not to show the one and only lease that is the best, we would like to present the features and characteristics of the legal statement that make the contract to be good.
- It comes from the different life situations that each contract is different, since there are no two Tenants or Landlords who would be the same and of course there are significant differences between the Leases as well. Therefore, one of the most important features of a really good lease is that it is unique, written specifically for the Parties and their circumstances.
- The best lease contract is not short and does not rely only on the background rules. Of course, we do not claim that it should be a 4-volume novel, but efforts should be made to clarify the most important detailed rules concerning the Parties. Based on long years of experience, we can safely say that the majority of the conflicts between the Parties primarily come from misunderstandings or issues that were not clarified at the time of signing the contract. So don’t be afraid of a detailed contract, stick to it!
- Both parties tend to defend their rights by emphasizing their own rights, while pushing the obligations to the background when the contract is signed. Yet the basis of a well-functioning cooperation is a lease that protects both parties and provides reassuring guarantees. Never seek to over-insure the Landlord’s site or, on the contrary, favor the Tenant. Especially when we are involved, it is very difficult to look impartially at a situation in which we have a financial interest. In these cases, a reliable, experienced real estate agent, with decades of experience, can help you prepare the most suitable contract for both Parties.
- A very good lease contains an inventory list! It is not worth saving this administrative work, as it protects not only the Landlord but the Tenant as well! Stick to it even if we are the Tenants!
- Prepare a handover report that documents the position of the utility meters!