Rental agreement facts for kids
A rental agreement is like a special promise, usually written down, between two people or groups. It's about letting someone use something for a short time, like a house, a car, or even a tool. The person who owns the item and lets it be used is called the owner or landlord. The person who uses the item and pays for it is called the renter or tenant.
This agreement explains important things like who is involved, what is being rented, how long it will be rented for, and how much it will cost. It's a type of contract that helps everyone understand their responsibilities. Rental agreements are used for many things, from homes and parking spots to business offices and even farm land.
Contents
Renting Homes and Buildings
When you rent a place to live, like an apartment or a house, the agreement is often called a lease. The person living there is the tenant, and they pay rent to the landlord (the owner). This type of rental involves specific rights about using the property.
A real estate rental agreement can include many details:
Who is Involved?
The agreement clearly names the owner (landlord) and the renter (tenant). For a home, it might say if the renter lives alone, with family, or with roommates. It can also explain rules about visitors or if pets are allowed. Renters also have rights, like privacy. A landlord usually can't just walk into your rented home without telling you first, unless it's an emergency like a fire.
What is Being Rented?
This part describes exactly what you are renting. It could be an apartment, a house, a business office, or even just a space to park a car. The agreement might also include common areas you can use, like a laundry room, a swimming pool, or a balcony. It can also describe how the place looks when you start renting, so everyone knows its condition when you move out.
How Long Can You Rent It?
The rental period can be short, like a night for a hotel room, or longer, like months or even years. Many rentals are for a year or month-to-month. If you leave a long-term rental early, there might be fees. If you stay longer than agreed, the rental might change to a month-to-month agreement.
How Much Does It Cost?
The agreement states how much rent you need to pay and when, like every month. Often, when you start renting, you pay the first month's rent, the last month's rent, and a security deposit.
Security Deposit
A security deposit is money the landlord holds to make sure you return the property in good condition. If you keep the place clean and don't cause damage (besides normal wear and tear), you usually get this money back when you move out. In some places, landlords even have to pay you a small amount of interest on this deposit.
Renter's Insurance
Sometimes, when you rent an apartment, you might need to get renter's insurance. This special policy helps protect your belongings inside the apartment from things like fire, theft, or windstorms. It can also cover you if someone gets hurt in your rented home.
Renting Personal Items
Besides homes, you can rent many other things that are not buildings or land. This is called renting "personal property." These rentals are also covered by agreements.
Some common things you can rent include:
- Movies on DVDs or music CDs.
- Transportation like an automobile or a bicycle.
- Boats (called chartering).
- Airplanes (also called chartering or leasing for longer times).
- Special tools, like a chainsaw or a forklift.
- Furniture or even designer handbags.
- Electrical items like washing machines.
When you rent these items, you often need to show an identity document, sign a contract, or pay a damage deposit. This deposit helps make sure you return the item and covers any damage.
Car Rental
When you rent a car, the agreement will have rules about how you can use it. For example, you might not be allowed to drive it off-road or out of the country without special permission. You will definitely need to show your driver's license, and only people listed on the agreement can drive the car.
You might also be offered auto insurance to cover the car while you use it. It's important to know that you are usually responsible for any parking tickets or traffic fines you get while using the rented car. The agreement will also explain what to do if the car breaks down, gets into an accident, or is stolen.
There might be extra fees if you return the car late, drop it off at a different location, or don't fill up the gas tank before returning it.
See also
In Spanish: Contrato de arrendamiento para niños
