St louis property management and leasing companies offer residential properties and commercial properties for lease in St. louis. Individuals who lease these properties are known as tenants. When an individual rents a property, the basic responsibilities and rights of the landlord and the tenant are disclosed in the lease agreement. In other to avoid issues that will led to confusion or legal disputes, they both need to be aware of their rights and responsibilities.
As a tenant or a landlord, you should have a fair understanding of your rights and responsibilities required of you, so that you can have a pleasant and peaceful rental experience.
Types of Tenancy Agreement
There are two main types of tenancy agreement which are, the Lease Agreement and the Lease and License Agreement. The lease agreement allows the tenant to own the property for an undefined period of time. This becomes a large problem when a tenant wouldn’t vacate the property and the only solution might be to take this problem to the court, which might take a very long time of several years to get a judgment. The license agreement, however, is more feasible as it comes with conditional agreement of owning the property for a period of time that is limited with an option of renewing with certain changes in rent and stay. This is the most popular agreement which most of the st louis property management and leasing companies choose.
Responsibilities Both Tenant and Landlord Should Share
A tenant that is responsible will pay off the rent and other rental fees associated, within the mentioned time period according to the lease agreement. If by any chance, a tenant fails to pay the rent within the stipulated period of time, the tenant in may be subjected to eviction.
Correspondingly, the landlord should also share some responsibilities. The st louis property management and leasing company will provide a rent receipt as a proof of payment to the tenant. The tenant has the right to complain to the consumer court if a landlord fails to provide the rent receipt. In such case, after listening to both case, the court asks the landlord to compensate the tenant. A tenant has the right to ask for bank particulars of the landlord to deposit the rent money. If such form of payment is not available, the tenant can choose to deposit the same through other means. If a landlord wants to increase the rent fee, he/she should give notification to the tenant earlier. A formal notice should be sent bearing the signature of the landlord.