The Arizona Standard Lease Agreement is a legally binding contract between a landlord and his/her tenants. Such an agreement must be in writing if it is to be in effect for over a year however, regardless of the amount of time it is usually an excellent precautionary measure to have a written contract in such matters. This gives all the parties involved hard-copy verification that each will act in a lawful manner and in compliance with the signed agreement. A written lease has quite a few benefits because of its definition of terms. For instance by naming the termination date, it provides a reference point for when the deposit should be returned if it does not convert. Arizona will allow a lease to convert to a month to month however if this does not happen then deposits must be returned within fourteen days of the termination. Obviously, if one party wishes to terminate the lease, it would be for the best to have a tool (such as a documented termination date and terms regarding the damages remedied by a deposit) which can be used by the law to protect both parties. It should be noted that while the lease form contains the framework and language necessary for a binding contract, the lessor and lessee will have to agree on the specifics that must be entered and agreed to via signature.
How to Write
Step 1 – The Agreement Paragraph and Item One. The “Agreement” paragraph will introduce the lease. This requires the day, month, and year of the agreement entered. It will require the full name of both the lessor and lessee as well. Item 1 will require the address of the lease property.
Step 2 – Item 2, Term: Enter the start date of the lease then the end date of the lease.
Step 3 – Item 3, Rent: The full rent amount must be entered here. Item 3A requires the daily late charge amount per day to be charged for delinquent rent. Item 2C is where the fee a Landlord may charge a Tenant for bounced checks.
Step 4 – Item 4, Security Deposit: The security deposit amount should be entered in the blank space.
Step 5 – Item 5, Use of Premises: If the tenant plans on living with family, the immediate family members should be listed here.
Step 6 – Item 16, Tenant’s Holdover: This will define how much the monthly rent will be if the Landlord and Tenant allow the lease to turn to a month-to-month lease agreement.
Step 7 – Item 18, Animals: The daily fee per animal should be entered in the space provided.
Step 8 – Item 33, Notice. The address where the Landlord may receive notices from or regarding the tenant must be entered in this space.
Step 9 – Closing Paragraph/Binding: The day, month, and year should be entered here. This must be followed by the Landlord’s signature, printed name, and date of signature. Below this the Tenant must provide his/her signed name, printed name, and date.