How to make a rental agreement

Rent a home or live for rent means a tangle of clauses and interests that must be clarified to avoid possible misunderstandings. The rent is a legal activity regulated by the Urban Leasing Law of 1994. This Law is applied to housing rents. To clarify, housing is understood to be a habitable building whose purpose is to satisfy the need for the tenant's first home. Keep reading to know the details of the operation.

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In order to formalize a rental contract, the following must be taken into account: The contract must be in writing and the landlord and tenant's identity must appear, as well as a broad description with housing information. The duration of the contract, the rent per month and the clauses must also be specified.

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Rental contracts can be of many types, since there is no need to follow a specific model. The important thing is that it reflects the interests of both parties and that will be written in the additional clauses that can be added.

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In principle the duration of the contract is usually 5 years, although this is also optional. The duration is chosen by both parties, the minimum is one year and the maximum 5. So, if in 5 years the landlord does not want to renew it is in his right, although he must advise one month in advance. Also, at the signing of the contract, the tenant is obliged to give the owner a deposit in cash equivalent to one month's rent . The bond is a guarantee for possible damages that the tenant can do in the house.

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When the contract ends and the owner sees that everything is well preserved, he returns the full bond. The bond can not be used by the tenant to pay the last month of rent. The monthly payment that the tenant pays to the landlord for living in the house is an amount that the landlord sets and that the tenant accepts at the moment of signing the contract. Payment must be made every month with a period of 7 days to make the deposit. The owner can not demand that the rent be paid before the 1st of each month.

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Each year, the owner can only increase the monthly payment according to the rise in the CPI, Consumer Price Index. On the other hand, whoever takes charge of the expenses of the floor is reflected in the contract. In principle, the costs of community or building work, must be paid by the landlord. But the monthly expenses of the house, such as gas and electricity, will be paid by the owner or tenants.