A lease agreement is a legal paper officially recognizes the binding relationship between the landlord and the tenant, in which the landlord agrees to rent their property (apartment/house/villa) with a fee to the tenants. There are some terms laid in the paper that both parties have to follow, or else they will pay an amount of money. The terms includes the rental price, agreed contract time, speculations in modifications, pet allowence, security deposit, lease termination requirements and so on.

A rent receipt is a paper or digital document that provides proof that a tenant paid rent. Generally, it contains the date of the transaction, rental period, landlord and tenant’s name, the amount of rent paid and more. The rent receipt is used by landlords and property managers to keep track of who has paid rent. As for the requirement of landlords, tenants are expected to pay once every three or six months, and rent must be paid upfront.

While the deposit is paid by the tenants, the landlords have to propose a list of items attached to the rental property before handing out the keys. With this being done, the landlords can keep track of their possess and hence base upon that to check when the lease contract is terminated.

To keep yourself out of mistakes, you should list the items in ordinal numbers, name of items, quantity, material, brand, color, size, content, and status. Try to be as specific as possible so that everything is under control. This particular paper is for both tenants and landlords to base upon to determine what to do with the security deposit when they decide to terminate the contract. If everything is kept intact, the security deposit should be paid to the tenants, and if not, that amount of money is for the repair and fee compensation.

After one or two years rent, if the lessee wishes to stay, they can extend the contract by filing the paper Extension of lease contract. In this paper, the time extension and a notation of confirming all terms in the previous contract will be added.