A lease or rental agreement is a legal contract, and people under 18 cannot enter into a legally binding contract in the United States, according to Nolo. As a result, most landlords do not risk renting to someone under legal age without a co-signer, explains AskTheJudge.info.Know More
There are two exceptions that allow minors to sign contracts. One exception is a minor who has been legally emancipated and is therefore deemed an adult, according to FreeAdvice. The other exception is that a minor can contract for essential items, such as medicine and food, and lodging is considered to be an essential item in some states.
A significant complication from a landlord's point of view is that a minor can void a contract after the fact in most states, according to LAWCHEK, making it risky for landlords to choose to rent to minors even though it is not illegal.Learn more about Legal Ages
When taking out a commercial lease, a renter must negotiate the length of the lease, current rent, potential rent increases, tenant improvements, subleasing options and assignments, according to Nolo. The initial lease terms typically favor the landlord, so it is the renter's obligation to negotiate more favorable terms.Full Answer >
A free property lease is customized with details unique to the lease agreement, such as the names of the tenants and the landlords, the address of the property and the amount of rent, states About.com. It also includes the date the lease goes into effect and its length.Full Answer >
A commercial lease agreement must contain basic information about the agreement, such as the base amount of rent, the security deposit amount, the rent's due date, the term of the lease, allowable rent increases with calculations of increase amounts and any amenities. The lease also needs to include a full description of the property, including the number of parking spaces allowed for tenants and customers, according to Intuit Quickbooks.Full Answer >
A mobile home lease or space rental agreement specifying the rent, a due date, the amount of any security deposit, and the conditions which allow a refund, is required in most states, according to SFGate. Typically, the park owner must also disclose and explain all fees for utilities.Full Answer >