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A rental agreement is typically similar to a lease. It will be used to set a clear written contract for someone who is renting property from a landlord. Unlike leases, rental agreements are typically shorter in duration, such as for one month. Some rental agreements may be used for month by month rentals, which can be canceled with only a month’s notice.
A rental agreement will list various information about the real estate transaction on paper. This is important, as it protects both parties in case of a dispute. A contract will demonstrate liability and terms clearly, unlike a verbal agreement. Be sure to include specific information, such as the length of the rental term, the cost for renting the property, and contact information for both the renter and the landlord.
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