Templates and forms for rental lease agreement serve as a contract between tenants and landlords, and can safeguard both parties when there are cases such as defaults in payments, improper conduct of landlords / tenants etc. For tenants, the section concerning the payment of rent is an important one, and should be checked with a lot of care and consideration. Find out what tenants should look for in the rental payments section in rental lease agreement forms and templates. For more information about getting a rental lease agreement in Arkansas, please visit this website.
Rental fee raises
A proper lease agreement specifies when the contract is supposed to end, and when the landlord has an option to raise the rental fee that he / she is supposed to get. This will allow tenants to find out whether the rental fee that they pay is likely to be steady for the coming years.
Rental payment mode
The agreement should also mention the mode of payment, such as cash, bank transfer or any other method, which would be used by the tenant to pay to the landlord. The tenant must be okay with the payment mode that is specified by his / her landlord.
Rental payment schedule
It is a tenant’s duty to pay his rental fee exactly on time, and landlords should also be responsible for reminding their tenants about the scheduled dates for payment. The lease contract, as an effective practice, must clearly specify the payment schedule for every month. For late payments, there are provisions in other lease contracts for extensions or grace periods of around 3 – 7 days.
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