If you’re a Property Owner – residential, commercial or holiday rental – then you need to protect your assets and have formal, written lease agreements with your tenants or renters.
Holiday Rental Agreement
An agreement between a holiday property owner and a short-term guest to rent a house or apartment. The agreement covers rental period, rent payment, security deposit, noise restrictions, etc. If you’re managing your own holiday rental, be professional and protect yourself with a Holiday Rental Agreement.
Residential Lease
An agreement between a landlord and tenant to rent a residential property, such as house or apartment. The agreement covers rental period, rent payment, security deposit, etc. Remember, the landlord is responsible for providing a Residential Lease and is required by law to pay for its preparation.
Commercial Lease
An agreement between a landlord and tenant to rent a commercial property, such as a factory, warehouse, shop or industrial premises. The agreement covers rental period, rent payment, prohibited use of the premises, subletting, cleaning, security deposit, “making good”, etc.
Clarification on terminology: The term Tenancy Agreement can be used to refer to both the rental of a Commercial or Residential property. If you own the property you are referred to as the landlord; if you are renting the property you are the tenant – hence the term, Tenancy Agreement. On Legal123 we refer to a Residential Tenancy Agreement as a Residential Lease; and a Commercial Tenancy Agreements as a Commercial Lease.