If you`re considering renting out your property in Wisconsin, you will need to draft a Wisconsin Real Estate Rental Agreement to protect your interests. This legal document is a binding agreement between a landlord and a tenant, detailing the terms and conditions of the rental agreement.
Wisconsin law requires that certain information is included in the Wisconsin Real Estate Rental Agreement. This includes the name of the landlord and tenant, the rental unit`s address, the lease term, and the amount of rent due, and the security deposit amount. Additionally, the rental agreement must state the landlord`s duties, such as keeping the rental unit in a habitable condition and maintaining it to state and local housing codes.
The agreement should also address the tenant`s responsibilities, which include paying rent on time, keeping the rental unit clean and in good condition, and obeying all state and local housing laws. Tenants must also return the unit at the end of the lease term in the same condition as they received it, with the exception of reasonable wear and tear.
A Wisconsin Real Estate Rental Agreement should also specify the consequences if either party violates the terms of the agreement. For example, if the tenant fails to pay rent, the agreement can state that the landlord has the right to evict the tenant. Conversely, if the landlord fails to make repairs, the tenant can withhold rent or terminate the lease.
It`s important to note that Wisconsin law requires that landlords provide a written notice of their intent to enter the rental unit at least 12 hours in advance. The rental agreement should outline how and when the landlord can enter the rental unit and for what purpose.
In conclusion, it`s crucial to have a Wisconsin Real Estate Rental Agreement in place to ensure that you and your tenant are on the same page regarding the terms and conditions of the rental agreement. By having a well-drafted agreement that complies with Wisconsin law, you can protect your interests as a landlord while ensuring your tenant has a fair and clear understanding of their responsibilities.