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Hide Option Field to the Standard Rental Agreement

Hide Option Field to the Standard Rental Agreement and eSign it in minutes

Aug 6th, 2022

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is the option extension clause?

An option to renew or extend the lease means that upon the tenants exercise of the option (choice), the provisions of the agreed-upon option are adopted for another defined term. The terms of the option can include the length of the new term, a change in rent, and other modifications.

What is Section 11 of the Housing Act?

Section 11 of the Act states that, during the lease period, a landlord must maintain the exterior and structure of their properties. Failure to do so could lead to a wide range of property disputes, so it is important to understand your rights or obligations, as a tenant or a landlord, before making a claim.

What is the purpose of the option to renew clause?

A renewal option is a common clause in lease agreements that allow both parties to enter into a new lease when the term is up. Renewal option clauses will outline the timeline and notification requirements for both the tenant and landlord.

Why do landlords prefer no deposit option?

Is a no deposit scheme better for landlords? Now that landlords and estate agents can only request a deposit based on five weeks rent, an upfront deposit offers less protection than it once did. Zero deposit schemes cover the landlord for up to 12 weeks worth of rent, helping you foot the bill if anything goes wrong.

What invalidates a tenancy agreement?

Examples of unfair terms in tenancy agreements require the payment of rent even if the property becomes uninhabitable, for example destroyed by fire. force the tenant to pay the landlords costs in a court case which the landlord has lost and the tenant has won. unreasonably restrict the tenants right to assign.

What does an option mean in a lease?

A lease option is a type of real estate contract that gives renters the option to buy their rental when their lease is up. The propertys owner forfeits the ability to sell the property to anyone else during the lease term, and in exchange, the renter pays an upfront option fee and often a higher monthly payment.

What is an option to renew a contract?

A renewal option is a clause in a financial agreement that outlines the terms for renewing or extending an original agreement. The renewal option appears as a covenant in the original agreement and provides specifications under which the entities can renew or extend the original terms for an additional, specified time.

What is an option clause in a tenancy agreement?

A standard clause for inclusion in a lease where the tenant is to have an option to renew the lease from the end of the contractual term of the original lease. The option is not personal to the contracting tenant.

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