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Rental agreement. A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [ 1] As a minimum, the agreement identifies the parties, the property, the term of the ...
The property owner in this case signs a property management agreement with the company, giving the latter the right to let it out to new tenants and collect rent. The owners don't usually even know who the tenants are. The property management company usually keeps 10-15% of the rent amount, and shares the rest with the property owner.
Landlord–tenant law is the field of law that deals with the rights and duties of landlords and tenants. In common law legal systems such as Irish law, landlord–tenant law includes elements of the common law of real property and contract. In modern times, however, it is frequently governed by statute. [1] Generally, leases must include a few ...
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A landlord is the owner of a house, apartment, condominium, land, or real estate which is rented or leased to an individual or business, who is called a tenant (also a lessee or renter ). When a juristic person is in this position, the term landlord is used. Other terms include lessor and owner. The term landlady may be used for the female ...
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