8 CRUCIAL CLAUSES THAT MUST BE INCLUDED IN A LEASE AGREEMENT

 THE INCLUDE:

1.      NAMES OF THE PARTIES

• These are the names of the people who are entering into a contract together.

2.      CONTRACT PERIOD

• The period shall be the time of which the contract commences and ends.

3.      TERMINATION

• Termination of a contract could be due to breach or lapse of contract period.

4.      BREACH OF CONTRACT

• A breach of is the violation of a contractual obligation (dishonouring the contract terms)

5.      RENTAL AND ITS ADJUSTMENTS THEREOF

• Parties to the agreement shall agree on the amount the tenant shall pay as rental monthly as well as agree to the rules for its adjustment.

6.      USE RIGHTS, RESPONSIBILITIES AND POSESSION OF THE PROPERTY

• This describes the extent to which a tenant may use and enjoy the property as well as detailing how the landlord may not disturb the occupancy and enjoyment of such property by the tenant.

7.      MAINTENANCE AND REPAIRS

• This clause shall describe who is responsible for the maintenance of the property depending on the type of maintenance required.

8.      DISPUTE RESOLUTION

•  Parties to a contract shall set out to describe in detail as to how they will resolve any disputes if and when they arise.