At the end of a fixed-term lease, the lessor and tenant can sign or move a new lease with updated data and information. This type of document is also commonly referred to as a rental contract, lease, housing lease or simply “lease”. These terms are used synonymously when they refer to housing rental contracts. Use a lease to allow the tenant to acquire the property at the end of the contract. This type of lease helps a tenant who cannot buy real estate immediately and allows the seller to get a constant income. Use a room rental agreement if you need to rent a room in your property and set rules and limits. For example, you can use this agreement to explain how to allocate rent and incidentals and whether your tenant can show customers around.
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