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A lease agreement is a tool for informing owners and tenants as a protection of the rights of both parties. Today we are going to introduce 7 things that should be included in the contract in order to be effective for the owners and tenants and agree on uniform terms.

1. Owner's and Tenant's Personal Information

The first thing to put in the contract is name, surname, ID number, or passport number. House registration of both parties to tell who is doing this contract. And if possible, the contract should also state who and how many people will be the tenants. The lease can state that anyone not in the lease has the right not to stay to prevent further sublease without the owners' knowledge.

2. Payment Method

Specify the amount of rent per month, deposit, installment, insurance, utility bill, repair and cleaning cost. Do also Include clear payment methods such ad by cheque, cash or money transfers

3. Estate's information

Indicate the rental property in the lease agreement, specifying the house number or room number, valley, street, district, province, and if there is furniture, appliances, the decoration should be included in the lease with the number of keys or keycards provided to the tenant.

4. Purpose of the lease

The purpose of the lease must be clearly stated, such as for residential or business purposes only. This is to prevent the tenant from re-leasing beyond what is specified in the lease.

5. Lease and renewal period

The lease term should be clearly stated, such as 3 months, one year, three years, and the date of commencement of the lease up to the date of termination of the lease. The contract should also state that if the tenant shall continue the lease or overstay, they should notify the owner 30 - 45 days prior to the lease expiration. This also goes to the case where the tenant wants to terminate the contract prior to the lease period.

6. Rules and Regulations 

Make sure to put in the rules of the place for the tenant to recognize and follow, such as parking rules, garbage collection, violations of the law or nopet rule, as well as the right to access common areas that come with the place, such as parking lot, gym or meeting room.

7. Guidelines if the contract is breached.

Specify the guideline if the contract is breached, do clearly divided into one subject so the owner and tenant can agree, such as "if the tenant does not stay up to the lease period, the owner can hold a deposit, "the landlord must return the deposit as soon as the lease expires" "the fine in the case of lay payment", if the tenant breaks the rules that stated on the contract, the owner can terminate the contract", "the tenant must follow the rules that the place implied".

Finally, sign up the contract with witnesses, and complete the payment. Don't forget to leave a copy of the contract for both sides as well, along with other necessary documents. 

If you are interested in renting or finding a place to rent, we recommend that you visit www.yula.la/en/real-estate to find and advertise real estate for rent.