When you've got a condo to lease out and you've found the right tenant, create a Condominium Lease to outline the terms of the lease agreement. It will help you start on the right foot and establish a healthy landlord and tenant relationship.And if you're a tenant about to lease a condo, don't be afraid to ask your landlord to provide a written contract.
A Condominium Lease is a lease agreement between the owner of a condominium and a tenant. The Lease defines the terms of rental of the condominium. The rental term, monthly rent, security deposit, maintenance and repair obligations are all terms outlined in the Lease. The Condominium Lease is similar to a Residential Lease but also addresses issues unique to the rental of a condominium, such as the landlord's obligation to pay the condominium fees, and making sure tenants adhere to rules set out by the condo's HOA. The purpose of a Condominium Lease is to make clear the terms of the lease agreement of the condominium. It also prevents misunderstandings and lays the foundation for a healthy landlord-tenant relationship.
Other names for this document: Condo lease, Condominium Lease Form
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