The acquirement of your own apartment is a process of considerable expenses, that is why many of us just rent an accommodation. There is a chance that disputes and inconsistencies arise between an apartment owner and a tenant. Accommodation rental agreement is crucial to be concluded between a tenant and an accommodation owner to avoid any further conflicts and make their relationships official.
Accommodation rental agreement is an agreement concluded by an accommodation owner and a natural person who wants to rent such accommodation and use as a residence for a certain period of time for an agreed payment.
- Name and details of the parties (full name and passport information);
- Specification of an accommodation to be rented (address, number of rooms, area);
- Duration of an agreement;
- Method, term and amount of payments;
- Conditions of early termination of an agreement;
- In case of early termination or cancellation of an agreement, explicit procedure of repayment is necessary;
- List of all necessary rights and obligations of the parties;
- Provisions on the liabilities of the parties;
- Other provisions that are mutually defined by the parties as significant.
If an accommodation rental agreement is concluded for the period of more than 3 years, notarisation of such agreement is a must; moreover, such agreement is subject to registration in the State Register of Proprietary Rights to Immovable Property. If an agreement stipulates no specific duration, it is considered to be concluded for 5 years.