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The Importance of Lease or Rental Agreement
The lease or rental agreement is the key document of the tenancy. A thorough lease or rental agreement will set out important issues such as:
the length of the tenancy
the amount of rent and deposits the tenant must pay
the number of people who can live on the rental property
who pays for utilities
whether the tenant may have pets
whether the tenant may sublet the property
the landlord’s access to the rental property, and
who pays attorney fees if there is a lawsuit.
Leases and rental agreements should always be in writing, even though oral agreements for less than a year are enforceable in most states.
While oral agreements may seem easy and informal, they often lead to disputes.
If a tenant and landlord later disagree about key agreements, such as whether the tenant can sublet, the result is all too likely to be a court argument over who said what to whom, when and in what context.
"Bad news for anyone who was looking to rent the latest episode of Top Gear from iTunes, as Apple has quickly and quietly removed their 99¢ television rental option today." Read more...
(source: TechCrunch)
