In this type of lease, there is a defined specific beginning date and an ending date for a specific term. This means that no notice to vacate Afghanistan WhatsApp Number List is required, as the ending date of the lease is when the tenant should vacate the property. The lease cannot be terminated before expiration unless both parties agree. The rights and obligations of the Afghanistan WhatsApp Number List owner or landlord and the tenant are spelled out in the lease.
Also Known As: estate for term
Seven Common Clauses From Leases 1. Joint and Several Liability Used a lot in residential leases, this clause allows the landlord to treat Afghanistan WhatsApp Number List multiple tenants as each being individually and jointly liable to uphold the terms of the lease. In other words, the group is responsible, but so is each individual. If there are six roommates sharing the rent and on the lease, the landlord need only serve one or more to meet lease terms for notice.2. Default There needs to be a Afghanistan WhatsApp Number List clause setting out what happens if either party to the lease defaults on the terms. It should also state when a party is considered in default. It’s OK just to state that a default occurs when one party violates the terms of the lease, but it’s better practice to list the ways in which an automatic default occurs to make it very clear. It would be a “not limited to” clause, meaning any other terms not listed would still trigger default, if violated.
Subleasing Some leases forbid subleasing. Landlords Afghanistan WhatsApp Number List often say that it’s difficult to impossible to enforce, so they allow it. You can charge a fee or increase rent if subleased. It’s good practice in this clause to require a complete application process, including credit and background check for sublease tenants. Late Fees To Afghanistan WhatsApp Number List encourage on-time rent payments, late fees can be charged. Check state laws, however, to determine if specific grace periods are required or other rules related to late rent penalties. Be clear as to when a late fee kicks in and the amount. If this isn’t clear in the lease, backing up charging a late fee in court will be tough.