When searching for a new home or office space, one of the most important steps in the process is signing a lease. Leases are legally binding agreements between tenants and landlords that dictate the terms and conditions of the rental relationship. However, what happens when a verbal agreement is made instead of a written lease?
A verbal agreement, also known as an oral agreement, is a spoken agreement between two parties. In terms of a lease, a verbal agreement would mean that the landlord and tenant come to an agreement on the terms of the rental without putting anything in writing. While this may seem convenient in the moment, it can lead to complications down the line.
One of the biggest issues with verbal agreements is that they are not legally binding. Without a written lease, it can be difficult to enforce the terms of the rental agreement should a dispute arise. This can lead to confusion, misunderstandings, and potentially even legal battles between the landlord and tenant.
Another issue with verbal agreements is that they are often based on trust. Both the landlord and tenant are relying on each other to uphold their end of the agreement, with no formal document to fall back on. This can increase the risk of miscommunication and misunderstandings, which can lead to tension and disputes.
So, what should you do if you have made a verbal agreement with your landlord or tenant? The first step is to try and put the terms of the agreement in writing as soon as possible. This can be done by creating a simple rental agreement that outlines the terms of the rental relationship. While this may not be as formal or legally binding as a lease, it can still provide some clarity and protection for both parties.
Another option is to consult with an attorney. A legal professional can help you navigate the complexities of rental agreements and ensure that your rights as a tenant or landlord are protected. They can also help you draft a formal lease that is legally binding and tailored to your specific needs.
In conclusion, while verbal agreements may seem convenient at the time, they can lead to complications and disputes down the line. It is always best to put rental agreements in writing to ensure that both parties are protected and that the terms of the rental are clear and enforceable.