A Brief Introduction About the Pennsylvania Lease Agreement
What is a Pennsylvania lease agreement? A Pennsylvania lease agreement is a legal contract between the landlord of the property and the tenant in the state of Pennsylvania. The agreement clearly states the terms and conditions of the lease, the rental to be paid each month, and by what date, the security deposit, and so on. The additional requirement for this agreement would be the bank name and address where the security deposit will be maintained.
The types of Pennsylvania lease agreement are:
- Short-term lease:In this type of lease, there is a fixed monthly rental to be paid for the entire period of the lease. This is ideal for short stays.
- Month-to-Month lease: This type of lease is suitable if you are not sure of the length of your stay. Rent is payable for just a month and is subject to change at any time.
- Subleasing: When as the original tenant you rent the property to someone else, it is known as subleasing.
Who Takes the Pennsylvania Lease Agreement – People Involved
A Pennsylvania lease agreement is taken by the landlord and tenant in the state of Pennsylvania.
The lease lays down the rights and obligations of the parties to the agreement, the landlord, and the tenant. There are different types of leases according to the requirement of the tenant.
The agreement ensures that the rights of both the landlord and tenant are protected.
Purpose of the Pennsylvania Lease Agreement – Why Do You Need It
The purpose of the Pennsylvania lease agreement is to ensure that the landlord of the property gets his or her rent on time and the tenant gets access to an apartment with certain facilities.
The agreement mentions the rights and responsibilities of both parties. The tenant has to take charge of the cleanliness of the premises, pay the rent, and follow the rules regarding appliances and furniture.
With such agreements, the landlord can minimize the damage to his or her property. The agreement can have clauses regarding the conduct of the tenant; so if the tenant disturbs the nearby residents, he or she may be evicted.
The rights of a tenant are also protected through a Pennsylvania lease agreement in relation to an increase in rent, damage to property, insurance, maintenance or property taxes, which are the responsibility of the landlord.
Contents of the Pennsylvania Lease Agreement – Inclusions
A Pennsylvania lease agreement is a legal contract between a landlord and a tenant. The landlord is required by the Pennsylvania statute title to have an agreement if he or she wishes to lease out his or her property.
The Pennsylvania rental agreement should include:
- The effective date of the agreement should be included in the contract
- The names of the parties to the agreement, the landlord and the tenant, in this case, should be mentioned in the agreement
- Rental payable.
- Security Deposit: The bank where the security deposit will be kept
- Term of the lease: The start and end dates of the lease.
- Landlord’s agent: If the property is being managed by the landlord’s agent
How to Draft the Pennsylvania Lease Agreement
While drafting a Pennsylvania lease agreement, the following points need to be kept in mind:
- Parties involved in the agreement and the relationship between them
- Details of the property including location
- Terms of the lease: The duration, the due date of rent and period within which possession should be given to the tenant
- Rent: The rent payable in advance by a certain date each month and the penalty for delayed payment.
- Security Deposit: The bank where this security deposit will be held.
- Landlord’s agent: If an agent is appointed to manage the property
- Payment of utilities: Share of utilities to be divided among the landlord and the tenant
- Eviction: The events which will lead to eviction of the tenant
The key terms of a Pennsylvania lease agreement
- Landlord
- Tenant
- Landlord’s agent
- Eviction
- Premises
- Parties
Negotiation Strategy
The landlord in a Pennsylvania lease agreement should ensure that the rent is in accordance with the fair market price of the locality. The tenant should verify if the facilities provided justify the rent being charged by the landlord.
Benefits & Drawbacks of the Pennsylvania Lease Agreement
Benefits:
- The Pennsylvania rental rights ensure that the interests of both the landlord and the tenant are protected. The landlord is assured of the stipulated monthly rental on time subject to providing the facilities stated in the agreement. The payments will be in accordance with the Pennsylvania landlord-tenant month to month laws. The tenant benefits as the landlord cannot increase the rent during the tenure of the lease
- The tenant is protected in case of change of ownership
Drawbacks:
- The tenant has to complete a minimum stay, no matter how inconvenient it might be for the tenant. There could be problems like lost job opportunities, relationship issues, or a better rental opportunity. You will have to pay the penalty if you want to end the lease prematurely as a lease termination fee
What Happens in Case of Violation
If the tenant violates any clause of the Pennsylvania lease agreement, there are penal provisions that will apply.
The primary violation by most tenants would be either non-payment of the rent or delayed payment of rent. The agreement clearly states the due date for these payments, and when there is a series of defaults with regard to lease payments, the landlord initiates legal action against the tenant in the form of eviction.
If the tenant willfully damages the property or carries out any illegal activity on the premises, this would amount to a violation of the contract, and the landlord would have to initiate legal proceedings against the tenant.
It is, therefore, extremely important that the tenant reads all the terms and conditions of the agreement and understand them well so as to minimize the violation of the agreement.
A Pennsylvania lease agreement protects the rights of both the landlord and the tenant, and it is required if the landlord wants to rent out an apartment or a home.
Leasing facilitates the opportunity to live in neighbourhoods, which you might otherwise not be able to afford.
Sample Pennsylvania Lease Agreement
A sample of the agreement can be downloaded from below.
