Landlords and owners of properties will ask potential lessees to apply for the available renting space to evaluate each individual applicant before granting a lease. Once the lease application is filled out and submitted, the landlord evaluates the application and determines whether the applicant can financially afford living on the premises. Signing the lease application does not create a binding agreement.
The lease application is not a binding agreement between the landlord and the potential lessee. It is a mere application the landlord uses to scan and evaluate each person who wishes to move into the space that is being rented out. The application requires the potential lessee to provide current resident information, employment details, gross monthly income figures and information about spouses or children who will be moving into the space. Some lease applications also require vehicle information and assets details.
Legal Application Terms
Lease applicants must pay attention to the fine print at the end of the application documents. The legal information will explain what is expected from the applicants. For example, the fine print on the Rentannapolis website reads that the application will only be used as a basis for lease acceptance. Signing the application does not make it binding, but it does indicate that all the information provided within is truthful and accurate.
The landlord will inform the applicant if the application has been approved. The landlord presents the applicant with a formal lease or contract, which needs to be signed by all legal adults who will be living in the space. If the application is rejected in favor of another applicant, the applicants are notified and the application is discarded.
The lease agreement or contract offered by the landlord once the application has been approved is a legally binding document. It becomes legally binding once it is signed by the applicants and landlord. The agreement outlines the terms and conditions of the lease, including respecting other residents in the complex, paying a monthly rent figure and maintaining the property. It also explains what items the landlord is responsible for and what the tenants are responsible for.
Respecting the Binding Agreement
Since the lease agreement is binding, both the landlord and tenant must abide by the terms and conditions outlined within. Either party can seek legal action if the contract is not respected or upheld.