A lease agreement is a contract between an Owner Landlord/Lessor and their Tenant/ Lessee whereby the lessor allows the lessee temporary use of his dwelling. in return for payment from the lessee, known as rent.
Verbal-vs. written lease agreements.
A verbal lease is still considered a legally binding contract, although it is strongly recommended to draw up a written agreement so that both parties are 100% clear on their rights and obligations. If the landlord stipulates that a written lease agreement is required, you will be required to sign the agreement in order to move into the property.
However, if you have been renting a property through a verbal agreement and your landlord then asks you to sign a written lease, you are not required to agree to any terms that were not included in your verbal agreement. The landlord will then be required to negotiate the terms of the new agreement to satisfy both parties.
Understand what you are signing!
When deciding whether or not to sign a lease for a property, remember to check that you understand what you are signing. A lease agreement is a legal and binding contract between you and your landlord and if you have signed the agreement, it is assumed that you knew what you were signing for and accept the terms of the agreement.
So, if you come across a clause that you are not familiar with or you feel could be a grey area, please consult a professional before just signing blindly. Too often in our hurry to secure the perfect home we gloss over the important information contained in a legal document such as a lease agreement and end up regretting it later on. You may have to consult a legal professional to ensure that such an agreement meets your own needs, as the tenant.
Print-friendly Lease Agreement & List of Defects,
Please note: The terms and conditions of any standard agreement may not be entirely suitable for your requirement. You are therefore advised to consult an attorney before signing any legal documents.
These agreements are intended to give individuals a very general outline of some of the provisions which may be included in an agreement for the lease of a freehold or a sectional title residential property It is not intended to be comprehensive or a substitute for detailed or specific legal advice.