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Should a lease be in writing?

No matter how friendly the landlord-tenant relationship seems to be, it's usually best to have a written Lease .

In most states, an agreement to lease property must be in writing if the term of the lease is longer than one year. But even for shorter leases, a written lease can be very helpful in resolving issues that might arise later. Such issues might include the length of the lease, the amount of the rent, late charges, return of the security deposit, who pays for utilities and repairs, and whether pets are allowed.

On the other hand, an oral lease may allow either party to terminate the lease upon much shorter notice.

In addition, it is important to remember that most states have laws regarding the rights and obligations of landlords and tenants. These laws may limit the amount of rent or security deposit that can be charged. They may also spell out the required procedures for removing a tenant, and explain the procedures that must be followed by the landlord before claiming all or a portion of the security deposit. Be sure you understand your state's landlord and tenant laws.

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This content is for information only and may be incomplete. It is not intended to be legal or tax advice.
You are encouraged to consult with your own attorney, accountant or other advisor.


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