Living under rent has many benefits. You are free to leave the apartment whenever you feel like it, you are mobile and can live wherever you want and if something gets broken, it is not your obligation to fix it. Also, you don’t have to pay certain taxes. But, what kind of agreement should you sign? In this article, we are going to explore some of the benefits of signing a rental agreement if you are a tenant. We are going to explore what is exactly a rental agreement too. So, without further ado, let’s begin!
So, what exactly is a rental agreement?
The rental agreement is not a long term contract. A rental agreement usually occurs on a month-to-month basis. It is a kind of lease agreement A month-to-month rental agreement is automatically renewed every month. Its original purpose was for the people who wanted to live for a month or two as a tenant. However, nothing stops you from having a rental agreement and live somewhere for many years.
Difference between a rental agreement and a lease
A rental agreement establishes a tenancy for a short period of time. That time is usually one month or thirty days. On the other hand, the lease obliges you and your landlord for a set period of time. The agreement cannot be changed by one party until it expires. The rental agreement can be changed every month. You just have to help your cat adjust to a new home every time you move.
Benefits of signing a rental agreement if you are a tenant
Now when you know something about the rental agreement, it is time to explore some of the benefits of signing a rental agreement if you are a tenant.
It is excellent for avoiding disputes.
When you have a rental agreement, you can avoid many legal disputes. What you sign is what you get. You cannot change rent until the next renewal. Without the rental agreement, every small dispute can be chaotic. In the agreement, you’ll find your rights and obligations. The same goes for your landlord.
You can easily leave the apartment
A rental agreement usually functions on a month-to-month basis. This means that if you want to leave and live somewhere else, all you have to do is to pay your rent and leave. You are not obliged to pay for a certain amount of time like with the lease. Of course, this is true unless you didn’t agree differently. Living under a rent with a rental agreement makes life much easier.
Ensure the legality
By having a rental agreement, you’ll ensure the legality of your stay. Also, many states and cities require you to have a rental agreement. That way you’ll be safe under the law.