Have some pieces of property which you want to lease out on a short-term basis? The week-to-week lease agreement is the contract to sign. Unlike the standard agreements, this one is drafted and signed between a property owner and a guest. It spells out the duties and responsibilities of the two parties.
Like other forms of leases, it also shows what exactly shall happen in the unlikely event that either party breaches his part of the deal. So vital is this agreement that without it, the properties leased might often be severely damaged, and unnecessarily high costs of repairs are borne by the owner.
Like its name implies, this lease lasts only 7 days. It is renewable, though, and may most commonly stretch beyond the original seven-day limit. All factors considered, the week-to-week rental agreement is the most flexible and reliable way of leasing out a piece of property to guests rather than long term tenants.
What to include?
A description of the premise concerned: These include such things as the number of floors, the building style, the property’s carrying capacity, and the amenities that the property provides.
The physical and postal addresses of the property: Here, the city, state, and zip code wherein the said piece of property is located are clearly stipulated.
The actual rent: i.e., the amount of money for which the said property shall be leased out.
Security deposit: It is the amount of money that is held in trust until such a time that the tenant vacates the premise altogether.
Utilities: It includes the other fringe benefits that the facility gives off to a would-be occupant. Examples of these include cable television, internet connectivity, and kitchen supplies.
Carrying capacity: i.e., the total number of persons that the facility may hold at any given time.
Pets: If the pets are allowed, and how many.
When to Use Week to Week Lease Agreement?
Hosting Short-term Events
When hosting short-term events, it is necessary to use this agreement. It is flexible enough to allow for varying the length and terms of the agreement accordingly. Moreover, it also creates a binding contract that is useful whenever the disputes spill over to a courtroom.
Leasing your Property to Friends
The idea of signing such an agreement when letting out your property to friends and members of your inner circle may seem awkward. However, it is strongly advisable for the purpose of eliminating ambiguities and helping with sorting out any adverse issues.
Utilizing Third-party Booking Sites
Even if you opt to lease your property via third party booking sites, it is important to enter such an agreement. Examples of these are the Airbnb or the HomeAway. Such an agreement yet again will help with sorting out any disputes that may arise in the course of utilizing your property.
How to write?
Considering the complex nature of the ‘week-to-week lease agreement,’ it is perfectly in order to use a template to help you out. This is basically a set of step-by-step instructions and questions which aid with the filling of this form. These questions eliminate any ambiguities while at the same time makes the comprehension of the form easier.
This is by far the best kind of method to make use of. It will help you to incorporate every vital piece of information which is necessary for the job. At the same time, it gives you the rare privilege of counter-checking facts before finally submitting the form altogether. To get one, start by choosing the agreement from the following list.