Essential Things That Must Be Part of Residential Agreement

1. Essential Things That Must Be Part of Residential Agreement! A residential lease agreement sets out the terms that the landlords and tenants must follow in their rental relationship. It is a legal contract and contains the essential details that the landlord and the tenant must follow. For instance, how the property will be used and when the rent will be paid are a part of the lease agreement. Some important terms that must be part of the lease agreement are: •Names of Tenants - Every adult who lives in the rental unit whether married or unmarried should be named as a tenant. He or she needs to sign the agreement. It makes the tenant responsible for the terms mentioned, including the full amount of rent and the proper use of the property. •Limits on Occupancy - The agreement should mention that the retail unit is a residence for the tenants who have signed the agreement. It guarantees the right to decide who lives in the property. •Terms of Tenancy - The rental document should mention whether it is a rental agreement or a fixed-term lease. The New Jersey residential lease agreement must also contain the details of the amount of the rent that needed to be paid on the first of every month.