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Monday, 14 November 2016

FREE RESIDENTIAL LEASE AGREEMENT TEMPLATE FOR ZIMBABWEAN PROPERTIES

If you are searching for a lease template to use your search is over. I will not only give you a  lease template for free but I will also assist you in customizing it for free. Please use this whatsapp number + 263  772 997 229 through which I can send the document on whatsapp and help you in the customization process.


In the mean time educate yourself on some basics of a lease.

Introduction

Many property owners and investors do not enjoy owning these investments because the reality they are facing on the ground is proving that managing property is in fact a serious headache. One common source of headaches is unpaid bills that some tenants do not clear before leaving the property. Other issues are defects that each and every tenant leaves on the property and at the end of the day this has an accumulated impact on the value of the property. Tenants too also complain about their rights being prejudiced many times when they rent property. Common complains are about  unjustifiable increases in rent and some kind of ambushing by the landlords who come up with new terms for occupying their properties when ever they wish to do so. A solution to all these and whose effectiveness is far reaching is having a lease. I have therefore given below various characteristics of a lease and how they are a solution to various problems people face when renting property.



Four basic elements of a lease; the parties, rent, property and period of the lease. A basic lease consist of these four basic elements namely, the parties (lessor and lessee), rent, property and period of the lease. This provides a framework or a point of departure when negotiating a lease.

Clarification of obligation of parties. In a lease there is a clause that clarify the obligations of each party. For example it is the responsibility of a tenant to pay both current rates billed by the municipality and the rent. Rates are for the services rendered (water, sewer, refuse collection etc) by the municipality to current occupants and rent is a charge for the space occupied. Hence it is a responsibility of the tenant to pay not just the rent but also the current rates billed. A lease clarify this distinction. Clearly any debts to the municipality incurred before the current tenant's occupation are not his responsibility and should not be made to pay them.

Defects list  Within 48hours of a new tenant's occupation a defects list must be compiled. It spells out all the damages that where on the property before his or her tenancy. This becomes the basis for identifying the defects for which the tenant is or not responsible and for which the security deposit can be used in order to remedy. Including this clause in a lease help to avoid disputes at the termination of the contract with respect to who is responsible for what defects.

Security deposit refundable. A security deposit is meant to be a cover for the lessor or landlord against liabilities incurred by the lessee during the period of the lease. If there is no security deposit the landlord can only seek recourse through the courts of law an option which is not favorable because its both time and money consuming. So a deposit is refundable less costs of liabilities if any. If there are none then the entire amount of the deposit is refunded to the tenant upon termination of lease.

Entirety of lease. A lease in which the parties namely the lessor and lessee bind themselves  in is in its entirety and there is nothing outside what has been agreed to already holds. This clause guard against ambushing and changing of terms of contract at will. If any of the parties feel that after signing there are other issues that should be included then this should be reduced to writing and is subject to negotiations and an addendum.








2 comments:

  1. Quite informative Cain. I will refer anyone who needs your services.

    ReplyDelete
    Replies
    1. Great thank you for the support Mr Shoko.

      Delete