FormZoid

A one-page lease should be reviewed by both the landlord and tenant before it is signed. This will ensure that both parties understand the terms and conditions of the agreement. It is also important to have a witness present when the agreement is signed. This will provide additional protection for both parties in the event that there is a dispute.

Once the 1-page lease agreement is signed, it is a legally binding contract. This means that both the landlord and tenant are required to uphold their obligations under the terms of the agreement. If either party fails to do so, they may be subject to legal action.

What Should Be Included in a One-page Agreement?

Since a 1-page lease agreement is a simple lease agreement, it won’t contain too many details. Among the provisions you will meet in a lease agreement are:

  • Information about the parties (names, contact, info, etc.)

  • Address of the rental space

  • Terms of the agreement

  • Monthly rent cost

  • Security deposit

  • Date when rent is due

  • Charges for late monthly rent payments

  • Signatures of the people involved

How to Fill out a One Page Agreement

Even despite the fact that a 1-page agreement contains a limited amount of information about the lease, you should carefully fill in a lease agreement template in order to make it legally binding.

Step 1 – Date of the Rental Agreement

Start with the date of creation of the document.

Step 2 – Parties Involved

In the next section, you will need to identify the landlord and tenant. This can be done by listing their names and addresses. If the landlord is a business, you will need to mention their legal name and the address for official correspondence.

Step 3 – Property Information

The next section will require you to provide information about the property that is being leased. This should include the address of the property, as well as a description of the premises. namely, the category of the rental property should be mentioned (house, apartment, condo, etc.). Another detail to include is the number of bathrooms and bedrooms.

Step 4 – Lease Term

In this section, you will need to specify the length of the rental agreement. This can be done by listing the start and end date of the lease. Its type has to be specified too – it can have a fixed lease term or a month-to-month basis.

Step 5 – Rent

The next section of the rental agreement will require you to specify the amount of rent that is due each month. You will also need to specify when the monthly rent is due and how the landlord expects the tenant to pay for rent.

Step 6 – Security Deposit

In this section, you will need to specify the amount of the security deposit. You will also need to specify when and how the deposit will be returned at the end of the lease.

Step 7 – Utilities

In this part of the rental agreement, it is necessary to specify which utilities are included in the rent. This should include electricity, gas, water, and trash. Whether or not the tenant is expected to pay for any of them is another piece of information that has to be clear from the rental agreement.

Step 8 – Parking

In this section, you will need to specify whether or not there is parking available at the property. If there is a fee for parking, you will also need to list the amount.

Step 9 – Move-In Date

In this section, you will need to specify the date that the tenant is allowed to move in.

Step 10 – Signature Lines

At the bottom of the agreement, there will be signature lines for both the landlord and tenant. Both parties will need to sign and date the agreement.

By signing the agreement, both parties are agreeing to the terms and conditions that are listed in the agreement.

What Disclosures Should Be Attached to a One-page Rental Agreement?

The following disclosures should be attached to a 1-page rental agreement:

1. A statement that the tenant has the right to receive a written copy of the lease agreement.

2. A statement informing the tenant of their right to have the terms of the lease agreement explained to them.

3. A statement informing the tenant of their right to receive a move-in checklist.

4. A statement informing the tenant of their right to have the property inspected prior to move-in.

5. A statement informing the tenant of their right to receive a copy of the landlord’s insurance policy.

6. A statement informing the tenant of their right to receive a copy of the lease agreement in their native language.

7. A statement informing the tenant of their right to receive copies of any changes made to the lease agreement.

8. A statement informing the tenant that they have the right to consult with an attorney before signing the lease agreement.

Why Is It Important to Attach These Disclosures to a One-page Rental Agreement?

The attached disclosures are important because they inform the tenant of their rights and what they can expect from the landlord. By attaching these disclosures, the landlord is ensuring that the tenant is fully informed of their rights and responsibilities under the lease agreement. This helps to prevent misunderstandings and disputes between the landlord and tenant.

When to Use a One Page Agreement

A 1-page lease agreement template can be used in a variety of situations. Some common examples include:

  • When leasing an apartment, house, office space, or retail space.

  • When the terms of the lease are simple and straightforward.

  • When both the landlord and tenant want to have a basic understanding of the agreement before signing.

It is important to note that a 1-page lease agreement template is not appropriate for every situation. If the terms of the lease are complex, it may be necessary to use a more detailed agreement. In addition, if either party wants to make changes to the agreement after it is signed, it may be difficult to do so.

If you have any questions about whether a 1-page lease agreement template is right for your situation, it is advisable to consult with an attorney.

Simple Lease Agreement vs One-page Rental Agreement

These two documents have the common goal – to record the rental agreement between a landlord and a tenant regarding the usage of the rental property, regardless of whether it is a condominium, house, or apartment.

The difference between the contracts lies in their forms and the scope of aspects they cover. In a standard contract, one will find plenty of details about the residential lease agreement, for instance:

  • if the pets are allowed

  • whether the parking space is provided

  • what advance notice the party terminating the lease should send

  • if the landlord’s interests can be represented by their agent and if yes, the information about this agent

  • etc.

The abovementioned details are important but their absence in a lease agreement does not make it invalid. This is why there is a counterpart in the form of a 1-page lease agreement. It, in its turn, contains the most fundamental aspects of the rental agreement between the parties. It is typically used when time is of big value, and the parties intend to make a binding lease agreement template as soon as possible. It goes without saying that this sort of contract should be concluded by people who have some trust in each other who are commonly family relatives or friends.

Pros and Cons of a One-page Agreement

There are both pros and cons to using a 1-page lease agreement. Some of the advantages include: It is a simple and straightforward way to create a legally binding contract that will be easily read by both parties. The lease agreement touches on the crucial aspects of the lease agreement It can be used for any type of property. If the lease term expires every month and the parties want to renew it, the 1-page lease agreement will save them a lot of time. A tenant feels less restricted by the lease. A landlord has more control over the tenant as their permission might be needed in some situations. Some of the disadvantages include: It may not include all of the details that are necessary for a specific lease agreement. Shared spaces such as corridors, balconies, laundry rooms, parking areas, etc. might be used by the tenant not in the way the landlord wants if the provisions are not included in the lease. The contract lacks an indemnification clause (which lets a landlord avoid the liability in case a tenant gets harmed in the rental space). It may be difficult to make changes to the agreement once it is signed. If there is a dispute, both parties may need to consult with an attorney to resolve the issue.

Why Is It Important to Screen the Tenant First?

As we have mentioned, a one-page rental agreement will lack many of the provisions that would normally be used in a standard lease and use rather generic and broad terms. This creates a potential issue of one of the parties understanding the lease provision in their subjective way and acting respectively which can be considered a breach of lease rules by another party.

However, the risk can be decreased if a landlord does thorough research of a potential tenant if a person is someone they don’t know, references from the employer and previous landlord might suffice. Another thing that can help is to do a background check which might require some money though. This will let a landlord get the info about any potential issues that might arise with this specific tenant and make their decision accordingly.