Who Will Pay The Charges For Rent Agreement?

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WHO WILL PAY THE CHARGES FOR RENT AGREEMENT?
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Entering into a rental agreement is a common
occurrence for both landlords and tenants.
However, amidst the excitement of finding the
perfect place, questions often arise about who
bears the financial responsibility for the
associated charges. In this blog, we'll delve
into the various charges related to a rent
agreement and clarify whether it's the landlord
or the tenant who typically foots the bill.
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CREATION OF THE RENT AGREEMENT
When it comes to drafting rental agreement, the
responsibility typically falls on the landlord.
This document serves as a legal contract
outlining the terms and conditions of the lease,
and it's in the landlord's best interest to
ensure its accuracy.
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STAMP DUTY AND REGISTRATION CHARGES
Notarizing rent agreements may be necessary in
certain jurisdictions. Notary fees are usually
the responsibility of the party initiating the
notarization process, and it's important to check
local laws to determine who is customarily
responsible.
Notary Fees
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BACKGROUND VERIFICATION COSTS
Some landlords may choose to conduct background
checks on potential tenants. The cost associated
with these checks, including credit and criminal
background checks, is typically borne by the
tenant. It's a part of the due diligence process
to ensure a landlord is confident in their
tenant's ability to meet their rental obligations.
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RENEWAL AND TERMINATION FEES
If the lease is set to be renewed, or if either
party wishes to terminate the agreement
prematurely, there may be associated fees. In
some cases, these fees are shared between the
landlord and tenant, while in others, they may be
the responsibility of the party initiating the
change.
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