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Adding a tenant to a lease allows you to upgrade rental terms to accommodate the new occupant. This may include an increased security deposit or rent, especially if utilities are included, as more occupants mean more usage.
These legally binding contracts outline the conditions under which one party agrees to rent a property from another. In exchange, the lessee is granted access to the property, while the lessor receives regular payments for a specified duration.
To make matters even more confusing, the term renter from a legal standpoint is defined as one who owns or controls property and rents that property to another. In this legal sense, a renter would be the landlord or homeowner while the tenant would be the one thats renting the property.
Joint Leases This means everyone is equally responsible for for all rules and regulations of the lease (including rent payments), and that any one tenant is responsible for the actions (or inactions) of all the others.
Only the person named on a lease has a legal right to live on the premises. There is unfortunately no legal right to have your girlfriend move in with you. Most residential leases contain a clause stating that guests must be added to the lease if they stay over more than a certain number of days per month.
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Key Takeaways. A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property and guarantees the property owner or landlord regular payments for a specified period in exchange.
While lessee and tenant might be used interchangeably in everyday language, they carry subtle distinctions in the legal and financial realms. A lessee is someone who enters into a formal lease agreement, while a tenant refers to someone occupying a property, regardless of the presence of a lease.
You may permit an agent or firm to represent you and the landlord at the same time. This dual agency relationship is most likely to happen if you become interested in a property listed with your tenants agent or the agents firm.

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