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A Lease Agreement is a legal file signed between a property manager and a tenant to lease a residential or commercial property. The person who owns the residential or commercial property is called the proprietor and the individual who takes the residential or commercial property on lease is understood as the tenant. A rental agreement is very important as it includes all the conditions related to leasing a particular residential or commercial property in written type. Renting a residential or commercial property without a composed agreement is very unsafe as it can lead to legal problems in the future. An oral lease contract is not legally permissible so if there is an oral agreement in between property owner and renter either party can repudiate the contract in such case the other celebration needs to show the material of the agreement which is quite impossible.

A lease arrangement is generally prepared by the attorney with the mutual authorization of the renter and property manager, however it should be prepared with the shared permission of both parties and signed by both celebrations in the existence of 2 witnesses. A composed rental agreement serves as evidence of a shared arrangement between the parties and is admissible as evidence in court and the terms of this agreement can not be altered without the authorization of both parties.
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TYPES OF RENT AGREEMENT

A lease agreement is usually of three types namely rent contract, lease contract, leave and license arrangement. Among the three kinds of a rental agreement, whichever type of agreement is gotten in into, both parties are bound to adhere to its terms and conditions. If the terms of the rental contract are violated, the other party can go to court to recuperate its due rights. However, the 3 kinds of rental arrangements are talked about below