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Lease Agreement for Residential Property
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Frequently Asked Questions
What is a Lease Agreement?
A lease agreement is a legally binding contract between a landlord and a tenant that specifies their rights and responsibilities in regard to the rental property. For example, the lease will specify the amount of rent, the length of the agreement, and each party’s duties and obligations under the agreement. It also includes specific language regarding pets, security deposits, late fees, utilities, etc.
The lease agreement can be set for a fixed amount of time or month-to-month. It’s important to understand that if the lease agreement is for a fixed term, both parties are legally bound by the lease until it expires. This means that each party must perform all of their duties and obligations under the lease during the entire lease term.
What kinds of provisions are in this Lease Agreement?
iLawyer’s Lease Agreement covers a wide range of provisions that may be needed by the parties. Some people will need all the provisions while some will not, you can select which ones you need in our online questionnaire. Some of the provisions are:
- Length of tenancy
- Security Deposits
- Utilities and other services
- Cancellation
- Penalties
- Late fees
- Pets
- Parking
- Suretyship
- and much more.
Anything not covered can be added by hand to the end of the document in the Additional Provision section.
In most cases you can leave out the specifics of a provision and a blank line will be provided in the document for you to add the information by hand later once you know the details.
If you want to know about the above provisions or any other provisions you can contact us at support@ilaywer.co.za or by using the contact features on our website.
Hoe long can a Lease Agreement for Residential Property be?
Generally, residential lease agreements may endure for a maximum fixed period of 24 months. Under the Consumer Protection Act (CPA), a longer period is permissible ONLY if there is a demonstrable financial benefit that the tenant gains from such a longer fixed term.
Residential leases between landlords who are natural persons and larger corporates are not regulated by the CPA at all.
How do I get Lease Agreement for Residential Property?
It’s easy to make a Lease Agreement for Residential Property on iLawyer.
Just answer a few crucial questions, and we’ll generate the proper legal language for your contract. Before you write your own Lease Agreement, you should know some of the basic details that are included. For example, you’ll need to identify who the Tenant and Landlord are, and you should know the general terms and conditions of your Lease, such as, how much the rental will be, and what basic restrictions will be on the usage of the property.
Click the CREATE DOCUMENT NOW button at the top of this page to start building your quality personalised Lease Agreement.
Then, complete our Online Questionnaire, make payment, and your customised Lease Agreement will be emailed to you within 30 minutes.
How do Lease Agreements work?
A Lease Agreement works by setting out the rights and duties of the Landlord and the Tenant so everyone knows what they should and should not do.
Can this Lease Agreement for Residential Property be used for Commercial Property?
No.
This Lease Agreement is for Residential Property only, in other words, the property must be used for people to live on it. The property must be a home, a flat, a townhouse, etc. It is not offices, a shop, a restaurant, etc.
Do I need a Lease Agreement?
Whether you are a Landlord or a Tenant, a written and signed Lease Agreement is essential. There is far too much potential for conflict and dispute without the Lease Agreement. Both parties are at a far greater risk of prejudice without a Lease Agreement.
You cannot always avoid disputes but having a Lease Agreement will help minimise the risk.
Is this Lease Agreement legally binding?
If the document is signed, it is legally binding and valid.
Can a Lease Agreement be signed electronically?
Yes.
iLawyer’s Lease Agreement for Residential Property contains a clause that confirms the document can be signed in one or more “counterparts”. This means the parties to the Contract can sign it separately and send each other copies of their signed agreement over by email.
Do you need an attorney for a Lease Agreement?
No, there is no legislation or legal requirement that an Attorney drafts or prepares a Lease Agreement.
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