In the past, the relationship between the landlord and their tenant wasn’t as efficient as it is today. The only situation where you find the tenant interacting by their landlord is when there is a problem in the rentals. Similarly, landlords could only check on their tenants when the rent hasn’t been paid duly, or when there was an upcoming rent increment. Well, in the contemporary world, the level of interaction between two has increased more, eventually making communication easier and more efficient. However, amid such interaction, there may be some sensitive information that shouldn’t be disclosed to anyone. Therefore, in such a situation, it is important that the two sign a Landlord-Tenant Non-Disclosure Agreement.
What is a Landlord-Tenant Non-Disclosure Agreement?
A Landlord-Tenant Non-Disclosure Agreement, also known as a confidentiality agreement, is an agreement made between the tenant and the landlord to protect confidential information that is shared between them. The main aim of the Landlord-Tenant Non-Disclosure Agreement is to prevent any damages or losses that may arise due to disclosure of information between the landlord and the tenant. Usually, the most common types of information that might be treated as confidential include property revenue, taxes paid planned capital investment and other information regarding the rented property.
Usually, failure to keep such information confidential can lead to adverse impacts on both parties (the landlord and the tenant). For instance, if the landlord’s confidential information isn’t kept secret, the landlord’s future interactions and negotiations with potential tenants may be impaired. At the same time, the tenant may lose trust and credibility from the landlord.
How to Write a Landlord-Tenant Non-Disclosure Agreement
Writing a Landlord-Tenant Non-Disclosure Agreement can be a difficult task for many. It requires adequate planning and research. However, if you want to write one on your own, the following steps will be of great help.
- First paragraph: In the first paragraph, you need to include the personal details of both the landlord and the tenant. Fill in the name of the landlord, their address as contacts, and do the same for the tenant as well. After that, indicate the date in which the agreement will take effect, i.e., this should be the date both parties sign the agreement.
- Second paragraph: In this paragraph, you need to briefly describe the rental property giving its address location. If there is more than one property, you should indicate the same. More importantly, make sure you describe what is protected against disclosure in this paragraph. If at all you are providing written documents, make sure you designate it as confidential. However, if it’s spoken, ensure you announce its confidentiality prior. In simple terms, this paragraph should make it clear to everyone to understand the trade secrets that must be kept confidential by either the parties. For instance, If there are confidential documents given by the landlord to the tenant, the documents will remain confidential unless given consent by the landlord through writing or any other suitable method.
- Third paragraph: In this paragraph, you should include attorney fees and other payment methods. The purpose of adding an attorney fee paragraph is to get each party to consent in advance to jurisdiction as well as to give up the consent to sue or to be sued anywhere should you fail to adhere to the agreement.
- Sign offs: After concluding the third paragraph, the agreement should be concluded by signing from both the parties. Note that a copy of the signed agreement should be kept for future reference.
Ultimately, the best protection anyone can have is not to disclose confidential information as much as possible. However, when it’s a must thing, ensure you take measures that prevent their public disclosures. One such measure is signing a Landlord-Tenant Non-Disclosure Agreement. The agreement provides a contractual commitment to keep confidential information between the landlord and the tenant. A Landlord-Tenant Non-Disclosure Agreement is not only enforceable but also legal. Therefore, upon breaching, the individual could be held liable for the damages and other losses caused. Therefore, get yourself a well written Landlord-Tenant Non-Disclosure Agreement template for free. Our templates are easy to understand. Hence, you will fill in your details efficiently and without any problem.
Well, if you are looking for the quick and easiest way to fill Landlord-Tenant Non-Disclosure Agreement, you should first read and understand the conditions. Secondly, you can get an easy to understand template such as the one we’ve provided. Thirdly, you can seek professional guidance from a legal expert.
This is an agreement made between the landlord and the tenant to keep certain information private and confidential.
Typically, the standard duration for a Landlord-Tenant Non-Disclosure Agreement ranges from 1 to 5 years, depending on the nature of the agreement, transaction, or market condition.
A Landlord-Tenant Non-Disclosure Agreement is a civil contract hence legally binding. Therefore, in case of a breach, the person will be held liable to pay any financial damages and other related costs.