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Lease
An
agreement to temporarily occupy someone’s property.
A
good lease should do four things:
- Protect
you from any liability associated with the property while
it is being rented
- Clearly
establish the acceptable living conditions for your
renters over the rental period (number of residents,
acceptable pets, etc.)
- Clearly
establish the financial conditions over the rental period
(security deposit, rent, penalties for late payment,
etc.)
- Firmly
establish the time constraints for all time dependant
actions (rent payment, lease period, notifications
required, etc.)
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