
Landlord and Tenant: what each one is and their responsibilities.
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Renting is an excellent alternative for most Brazilians, who opt for this type of housing, and therefore are subject to a commercial relationship, which, like the others, is governed by a contract, where the parties are referred to as lessor and lessee .
Each type of relationship has an appropriate type of contract; in the case of property rental, a lease contract is concluded, which can be between individuals or legal entities for commercial or residential purposes.
It turns out that many of these people do not understand the concept of these terms, what the obligations of each of them are and the true importance of a well-drafted contract.
If you decide to formalize a relationship without full knowledge of the rights and duties involved, continue reading to prevent this type of situation from happening.
What is a landlord and a tenant?
A landlord can be an individual or legal entity who owns a property and is making it available for rent to a third party. He is the one who defines some of the rules of the contract and actively conducts this legal relationship.
This process can be done in person or through a rental company.
While the tenant is the other party to the contract, that is, the one who is willing to rent the property from the landlord, for commercial or residential purposes, and this relationship is governed by a lease agreement.
How important is a contract?
As shown above, the contract is used to define the rules that will define the relationship between the lessor and lessee, that is, the rights and duties of each party, what may or may not be done and what the penalties will be for certain situations.
Furthermore, it is where the value of the negotiation is determined, for what period it will be valid, and what must be done on scheduled occasions.
The use of a comprehensive and well-prepared contract is essential for the security of the parties. If there is any loophole, the landlord or tenant may be harmed by it. This is why it is important to have a complete document that covers as many situations as possible.
What is the function of each part?
A contract is made up of several clauses, some of which are standard and others can be added according to the needs of each relationship, including the obligations of the lessor and the lessee.
The tenant must return the property in good condition, be responsible for any previous structural problems, pay all administrative and tax fees, and pay extraordinary condominium expenses.
While the tenant is responsible for paying the rent as agreed, using the property in a manner appropriate to its purpose (commercial or residential), looking after and preserving the property, returning it in the same conditions as received, reporting any damage or defect.
Furthermore, the tenant must repair all damage caused by him, allow for the inspection to take place, respect and follow the condominium agreement and he is also responsible for any and all ordinary condominium expenses.
This makes it clear what a lessor and a lessee are, what their functions are and, most importantly, what the relevance of the lease agreement is.
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