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Making a Lease Agreement
A Lease Agreement is a contract between two parties (a "lessor" and a "lessee") that outlines the terms of renting property. When it comes to a residential rental, the lessor is the property owner or landlord, and the lessee is the tenant. Signed by both parties, this essential document helps to set reasonable expectations for the tenancy. It defines what you will be responsible for as a landlord and what actions you'll take if the lease is not followed. You can tap or click "Make document" to take a closer look at our sample Lease Agreement.
When it comes to renting out residential property, the terms "lease" and "rental agreement" can be used interchangeably. Regardless of what the document is called, this contract should outline every aspect of the rental arrangement that you want your tenants to agree to, and it should clearly outline your responsibilities and expectations as the landlord or property manager.
As with any legal contract, a Rental Agreement is not legally binding until it is signed by all parties. This customizable document from Rocket Lawyer can offer much more protection than a Lease Agreement template or blank PDF file that you might come across elsewhere. As a Rocket Lawyer member, you will have the option to activate Document Defense® for your lease, which allows an attorney to help you demand payment or otherwise enforce your rights. While not all documents are legally valid with electronic signatures, most residential Lease Agreements are.
Whether you are offering the rental to an acquaintance or a stranger, it is always a good idea to create a Lease Agreement. Making this document could be a smart move due to the following benefits:
Any landlord opting not to make a Rental Agreement can expect some issues, such as ambiguity regarding fees and the inability to meet payment due dates.
Making a free Lease Agreement online is simple. Just answer a few questions, and Rocket Lawyer will build your document for you. When you have all of the details prepared, the whole process can take less than 10 minutes.
You'll need the following information:
Lease term details
When you build your rental contract, you also will be able to include details about insurance requirements, furnishings, and early termination. Using the document tool, you also have the ability to add more custom edits, as necessary.
A landlord-tenant lawyer might typically cost anywhere between $200 and $500 per hour depending on what state you operate in. With Rocket Lawyer, you can make a lease for free.
You can access your Lease Agreement anytime, anywhere, on any device. As a Rocket Lawyer Premium member, you can copy your rental contract, edit it, or send it out to your tenants for an online signature. You can also download it in PDF or Word format, and print it anytime. You can also use your Rocket Lawyer membership to have your Lease Agreement reviewed by an On Call attorney.
Attached to your Lease Agreement, there's a series of next steps to take to finalize the document. You are encouraged to take any or all of the following actions with your contract: making edits, downloading it as a Word document or PDF file, getting digital signatures with RocketSign®, and printing it. Finally, you will need to send a final copy of the fully signed agreement to the tenant. You may also wish to browse our entire selection of legal documents.
Laws often evolve over time. If you've got any questions or hesitations about local rental laws, you can always talk to a lawyer. Hiring a lawyer to give feedback on your agreement could take a long time if you do it by yourself. Another approach could be to request help from the On Call network of attorneys. Rocket Lawyer Premium members are able to request a document review from an experienced attorney or ask other questions. As a property owner or manager, you can work confidently with Rocket Lawyer by your side.
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