As of 2019, Statista’s record saw a surge of renters in the US with 43 million occupied housing units. The number has been on the rise since the 1970s. The unaffordability of homeownership makes property leasing a high demand in the country. With that said, there’s a need to settle leasing matters the right way to protect both the renter and the property owner’s interests. A lease agreement accomplishes such a task by comprehensively outlining the scope of their deal. It clarifies the obligations the involved parties need to fulfill to ensure that they’re met promptly throughout the term. It addresses payment schedule issues, prohibitions, policies, and other matters.
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