If you`re considering renting out your property to a tenant for a short period of time, such as a few months or even weeks, a tenant-at-will agreement may be a good option for you. This type of agreement provides greater flexibility in the rental arrangement and allows both parties to be more adaptable to changes in circumstances. In this article, we`ll provide you with a tenant-at-will agreement template that you can customize to your specific needs.
What is a Tenant-at-Will Agreement?
A tenant-at-will agreement is a type of rental agreement that allows a tenant to occupy a property for an unspecified amount of time, with no fixed end date. This type of agreement is more flexible than a traditional lease as it allows both the tenant and the landlord to terminate the agreement relatively quickly, either with advance notice or immediately.
This type of agreement provides benefits to both parties. For the tenant, it allows them to have greater flexibility in their living arrangement, allowing them to move in and out of a property without being tied to a long-term lease. For the landlord, it provides greater flexibility in managing their property, allowing them to adapt to changing circumstances and avoid being tied down to a long-term lease.
Tenant-at-Will Agreement Template
Here is a basic tenant-at-will agreement template that you can customize to your specific needs. Please note that this is only a template and it should be reviewed by a legal professional to ensure it complies with your state`s laws.
This Tenant-at-Will Agreement (“Agreement”) is made and entered into by and between [landlord name], hereinafter referred to as “Landlord,” and [tenant name], hereinafter referred to as “Tenant.”
1. Property and Lease Term. Landlord agrees to lease to Tenant the property located at [property address], hereinafter referred to as “Property,” on a month-to-month basis with no fixed term, beginning on [start date].
2. Rent. Tenant agrees to pay Landlord a monthly rent of [rent amount] on the [due date] of each month.
3. Utilities. Tenant shall be responsible for paying all utilities and services connected with the Property, including but not limited to electricity, gas, water, and waste management.
4. Security Deposit. Tenant shall deposit a security deposit of [security deposit amount] with Landlord upon signing this Agreement. This security deposit shall be returned to Tenant within [number of days] of the termination of this Agreement, provided Tenant has satisfied all obligations under this Agreement.
5. Termination. Either party may terminate this Agreement by giving [number of days] written notice to the other party. If Tenant fails to pay rent or otherwise breaches this Agreement, Landlord may terminate this Agreement upon [number of days] written notice to Tenant.
6. Right of Entry. Landlord shall have the right to enter the Property at any reasonable time for the purpose of inspection, repair, or maintenance. Landlord shall provide Tenant with reasonable notice prior to entering the Property.
7. Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of [state] and any applicable federal laws.
8. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the Property.
9. Amendments. Any amendments to this Agreement must be in writing and signed by both parties.
10. Severability. If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
11. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, and assigns.
In conclusion, a tenant-at-will agreement can be a great option for landlords and tenants who are looking for greater flexibility in their rental arrangement. However, it`s important to consult with a legal professional to ensure that the agreement complies with your state`s laws and meets your specific needs. With the above template, you can customize the agreement according to your requirements.