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Lease Assignment Agreement

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A Lease Assignment Agreement is a short document that allows for the transfer of interest in a residential or commercial lease from one tenant to another. In other words, a Lease Assignment Agreement is used when the original tenant wants to get out of a lease and has someone lined up to take their place.

Within a Lease Assignment Agreement, there is not that much information included, except the basics: names and identifying information of the parties, assignment start date, name of landlord, etc. The reason these documents are not more robust is because the original lease is incorporated by reference , all the time. What this means is that all of the terms in the original lease are deemed to be included in the Lease Assignment Agreement.

A Lease Assignment Agreement is different than a Sublease Agreement because the entirety of the lease interest is being transferred in an assignment. With a sublease, the original tenant is still liable for everything, and the sublease may be made for less than the entire property interest. A Lease Assignment transfers the whole interest and puts the new tenant in place of the old one.

The one major thing to be aware of with a Lease Assignment Agreement is that in most situations, the lease will require a landlord's explicit consent for an assignment. The parties should, therefore, be sure the landlord agrees to an assignment before filling out this document.

How to use this document

This Lease Assignment Agreement will help set forth all the required facts and obligations for a valid lease assignment . This essentially means one party (called the Assignor ) will be transferring their rights and obligations as a tenant (including paying rent and living in the space) to another party (called the Assignee ).

In this document, basic information is listed , such as old and new tenant names, the landlord's name, the address of the property, the dates of the lease, and the date of the assignment.

Information about whether or not the Assignor will still be liable in case the Assignee doesn't fulfill the required obligations is also included.

Applicable law

Lease Agreements in the United States are generally subject to the laws of the individual state and therefore, so are Lease Assignment Agreements.

The Environmental Protection Agency governs the disclosure of lead-based paint warnings in all rentals in the States. If a lead-based paint disclosure has not been included in the lease, it must be included in the assignment. Distinct from that, however, required disclosures and lease terms will be based on the laws of the state, and sometimes county, where the property is located.

How to modify the template

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.

A guide to help you: Tenants and Subtenants Obligations under a Sublease Agreement

Other names for the document:

Assignment Agreement for Commercial Lease, Assignment of Commercial Lease, Assignment of Lease, Assignment of Residential Lease, Assignment Agreement for Lease

Country: United States

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Free Lease Assignment Agreement Template for Microsoft Word

Download this free Lease Assignment Agreement template as a Word document to easily assign a lease to another party with consent from the landlord.

Lease Assignment Agreement

THIS ASSIGNMENT OF TENANCY AGREEMENT dated this [Insert date]

[Insert name] (the “Assignor”)

– AND-

[Insert name] (the “Assignee”)

A. This is an agreement (the “Assignment”) to assign a residential tenancy agreement in real property according to the terms specified below.

B. The Assignor wishes to assign and transfer to the Assignee that tenancy agreement (the “Tenancy Agreement”) dated June 11, 2020, and executed by the Assignor as tenant and by _________________________ as landlord (the “Landlord”).

IN CONSIDERATION OF the Assignor agreeing to assign and the Assignee agreeing to assume the Tenancy Agreement for the Premises, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, both parties agree to keep, perform and fulfill the promises, conditions and agreements below:

1. The Tenancy Agreement governs the rental of the following described premises (the “Premises”) to the Assignor: ______________________________________________

Assigned Tenancy Agreement

2. The Assignor assigns and transfers to the Assignee all of the Assignor’s right, title, and interest in and to the Tenancy Agreement and the Premises, subject to all the conditions and terms contained in the Tenancy Agreement.

Effective Date

3. This Assignment takes effect on June 11, 2020 (the “Effective Date”), and continues until the present term of the Tenancy Agreement expires on June 11, 2020.

Assignor’s Interest

4. The Assignor covenants that:

a. the Assignor is the lawful and sole owner of the interest assigned under this Assignment; b. this interest is free from all encumbrances; and c. the Assignor has performed all duties and obligations and made all payments required under the terms and conditions of the Tenancy Agreement.

Breach of Tenancy Agreement by Assignee

5. Consent to this Assignment will not discharge the Assignor of its obligations under the Tenancy Agreement in the event of a breach by the Assignee.

6. In the event of a breach by the Assignee, the Landlord will provide the Assignor with written notice of this breach and the Assignor will have full rights to commence all actions to recover possession of the Premises (in the name of the Landlord, if necessary) and retain all rights for the duration of the Tenancy Agreement provided the Assignor will pay all accrued rents and cure any other default.

Governing Law

7. It is the intention of the parties that this Assignment, and all suits and special proceedings under this Assignment, be construed in accordance with and governed, to the exclusion of the law of any other forum, by the laws of the State of New South Wales, without regard to the jurisdiction in which any action or special proceeding may be instituted.

Miscellaneous Provisions

8. This Assignment incorporates and is subject to the Tenancy Agreement, a copy of which is attached hereto, and which is hereby referred to and incorporated as if it were set out here at length. The Assignee agrees to assume all of the obligations and responsibilities of the Assignor under the Tenancy Agreement.

9. This Assignment will be binding upon and inure to the benefit of the parties, their successors, assigns, personal representatives, beneficiaries, executors, administrators, and heirs, as the case may be.

10. All rents and other charges accrued under the Tenancy Agreement prior to the Effective Date will be fully paid by the Assignor, and by the Assignee after the Effective Date. The Assignee will also be responsible for assuming and performing all other duties and obligations required under the terms and conditions of the Tenancy Agreement after the Effective Date.

11. There will be no further assignment of the Tenancy Agreement without the prior written consent of the Landlord.

IN WITNESS WHEREOF the Assignor and Assignee have duly affixed their signatures under hand and seal on this [Insert date]

SIGNED BY THE ASSIGNOR

_____________________________ Assignor: _________________________

in the presence of (Name of witness) _______________________

(Signature of witness) _____________________________

SIGNED BY THE ASSIGNEE _____________________________ Assignee: _______________________

in the presence of (Name of witness) ___________________

(Signature of witness) _______________________________

CONSENT OF LANDLORD

The Landlord in the above Assignment of Tenancy Agreement executed on [Insert date] consents to that Assignment. The Landlord also agrees to the Assignee assuming after [Insert date] the payment of rent and performance of all duties and obligations as provided in the Tenancy Agreement. Dated: [Insert date]

Landlord: _________________________

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LeaseAgreements.com

Assignment of Lease Template

An assignment of lease is when a tenant hands over all rights and possession over a lease to another party. This is common if a tenant would like to move out of the property and finds another qualified tenant to take over the lease. The landlord must approve any assignment and therefore this must be signed by all parties (i.e. landlord, tenant, and new tenant) and attached to the original lease.

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• Lease Assignment Agreement

A Lease Assignment Agreement is a legal document that transfers one party's obligations under a lease to another party. The new tenant (or assignee) takes on the assignor’s lease responsibilities, such as rent and maintenance, while the original tenant is released from their duties. With a free Lease Assignment Agreement template from Jotform Sign , you can transfer your lease obligation to a new tenant in minutes. Just customize your document in a few quick clicks and send it out via link or email to be signed on any device. You’ll receive a notification and a finalized version of the document once it’s complete.

Want to make changes to this Lease Assignment Agreement template? Just drag and drop to add or remove signature fields, customize form fields, and make other design changes. You can even add an automated signing order for multiple parties! Leases are already pesky enough — ease up the paperwork with a free online Lease Assignment Agreement.

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• Essential information : This section includes names of the parties involved, the effective date of the agreement, contact phone numbers and emails, etc.
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Lease Assignment Agreement Free

A Lease Assignment Agreement is a short and straightforward document for transferring a residential or commercial lease interest from one tenant to another.

Template Overview

A Lease Assignment Agreement is a short and straightforward document for transferring a residential or commercial lease interest from one tenant to another. To be more specific, this Agreement is used when the original tenant wants to terminate the contract but has found someone to replace him.

The Lease Assignment Agreements contain only basic information: names and the data of the parties, assignment's start date, name of the landlord, and other required information. 

The Lease Assignment Agreement is different from a Sublease Agreement because it also assigns all of the lease interest. In the meantime, with a sublease, the tenant is still responsible for everything, and the sublease can be concluded for less than all the interest on the property. The Lease Assignment passes on all the interest and replaces the old tenant with the new one.

One of the most important things to know when making a Lease Assignment Agreements is that leasing usually requires the landlord's consent for the transfer. That's why both parties have to be entirely sure that the landlord agrees on all the terms before making an agreement.

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.

How to use this template

This document is a useful tool to help you smoothly outline all the necessary facts and responsibilities to create a valid lease assignment. This way, one party, called the Assignor, will transfer its rights and obligations as a tenant (including paying rent and living in the property) to another party (called the Assignee).

The document provides only the necessary information needed: the names of new and old tenants, the name of the landlord, the address of the property, and the dates of lease and the assignment.

The document also contains information on whether the Assignor will remain liable if the Assignee fails to fulfill his obligations.

Applicable law

In the US, individual state laws govern Leases Agreements.

The Environmental Protection Agency governs the disclosure of lead-based paint warnings in all rentals in the States. If a lead-based paint disclosure has not been included in the lease, it must be included in the assignment. Distinct from that, however, required disclosures and lease terms will be based on the laws of the state, and sometimes county, where the property is located.

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This commercial lease assignment is between , an individual a(n) (the " Original Tenant ") and , an individual a(n) (the " New Tenant ").

On or about , the Original Tenant and (the " Landlord ") entered into a lease agreement (the " Lease ").

The Lease covers the commercial property located at ,    , and more particularly described as follows: (the " Premises "). The Premises contains feet of interior floor space.

Under section of the Lease, the Original Tenant is permitted to assign its interest in the Lease, with the consent of the Landlord.

The Original Tenant wishes to assign to the New Tenant its rights in, and delegate all of its obligations under, the Lease, and the New Tenant wishes to accept this assignment.

The parties therefore agree as follows:

1. ASSIGNMENT.

The Original Tenant assigns to the New Tenant of all its rights in, and delegates to the New Tenant all of its obligations under, the Lease. This transfer will become effective as of (the " Effective Date "), and will continue until the present term of the Lease ends.

2. ASSUMPTION OF RIGHTS AND DUTIES.

After the Effective Date, the New Tenant shall assume all rights and duties under the Lease, including the obligation to pay rent under the Lease when it is due. The Original Tenant will have no further obligations under the Lease The Original Tenant will remain bound to the Landlord under the Lease, notwithstanding the assignment . However, the Original Tenant remains responsible for obligations accruing before the Effective Date.

3. REIMBURSEMENT.

On or before the Effective Date, the New Tenant shall pay $ to the Original Tenant, which is the sum of:

• (a)  The security deposit held by the Landlord under the Lease; and
• (b)  The rent or other deposits paid in advance by the Original Tenant for any period after the effective date of this assignment.

4. INDEMNIFICATION.

• (a)  The Original Tenant shall indemnify the New Tenant against any award, charge, claim, compensatory damages, cost, damages, exemplary damages, diminution in value, expense, fee, fine, interest, judgment, liability, settlement payment, penalty, or other loss (a " Loss ") or any attorney's or other professional's fee and disbursement, court filing fee, court cost, arbitration fee, arbitration cost, witness fee, and each other fee and cost of investigating and defending or asserting a claim for indemnification (a " Litigation Expense ") arising out of the Original Tenant's breach of its obligations under the Lease before the Effective Date.
• (b) The New Tenant shall indemnify the Original Tenant against all Losses or Litigation Expenses relating to the Lease, except if those Losses or Litigation Expenses arise from the Original Tenant's failure to perform its obligations under the Lease before the Effective Date.
• (c)  The New Tenant shall indemnify the Original Tenant against all Losses or Litigation Expenses attributable to the acts or omissions of the New Tenant or its agents, contractors, or employees with respect to the Premises or any activities on the Premises. This indemnification will survive the termination of the Lease and this assignment.

5. CONTINUING EFFECTIVENESS OF LEASE.

This assignment is made on the understanding that all other terms of the Lease remain in full effect, including the prohibition against further assignments and subleases without the Landlord's express written consent.

6. ORIGINAL TENANT'S REPRESENTATIONS.

The Original Tenant represents that it:

• (a) has the power and authority to enter into and carry out this assignment;
• (b)  has not previously assigned its rights under the Lease;
• (c)  is the lawful and sole owner of the interests assigned under this assignment;
• (d)  the interests assigned under this assignment are free from all encumbrances;
• (e)  except for the Landlord and the Original Tenant, there are no parties in possession or occupancy of the Premises or any part of them, and there are no parties with possessory rights on the Premises or any part of them; and
• (f)  has performed all obligations and made all required payments under the Lease.

7. CONDITION OF PREMISES.

The New Tenant has examined and inspected the Premises and accepts them "as is" and in their present condition with all faults. Except as provided in this assignment, the Original Tenant makes no representations, covenants, or guaranties about the status, nature, or condition of the Lease or the Premises.

8. INTERPRETATION.

In interpreting the language of this assignment, the parties shall be treated as having drafted this assignment after meaningful negotiations. The language in this assignment will be construed as to its fair meaning and not strictly for or against either party.

9. GOVERNING LAW.

• (a) Choice of Law.  The laws of the state of govern this assignment (without giving effect to its conflicts of law principles).
• (b) Choice of Forum. Both parties consent to the personal jurisdiction of the state and federal courts in , .

10. AMENDMENTS .

No amendment to this assignment will be effective unless it is in writing and signed by a party or its authorized representative.

11. COUNTERPARTS; ELECTRONIC SIGNATURES.

• (a) Counterparts.  The parties may execute this agreement in any number of counterparts, each of which is an original but all of which constitute one and the same instrument.
• (b) Electronic Signatures.  This agreement, agreements ancillary to this agreement, and related documents entered into in connection with this agreement are signed when a party's signature is delivered by facsimile, email, or other electronic medium. These signatures must be treated in all respects as having the same force and effect as original signatures.

12. SEVERABILITY.

If any one or more of the provisions contained in this assignment is, for any reason, held to be invalid, illegal, or unenforceable in any respect, that invalidity, illegality, or unenforceability will not affect any other provisions of this assignment, but this assignment will be construed as if those invalid, illegal, or unenforceable provisions had never been contained in it, unless the deletion of those provisions would result in such a material change so as to cause completion of the transactions contemplated by this assignment to be unreasonable.

13. NOTICES.

• (a) Writing; Permitted Delivery Methods.  Each party giving or making any notice, request, demand, or other communication required or permitted by this assignment shall give that notice in writing and use one of the following types of delivery, each of which is a writing for purposes of this assignment: personal delivery, mail (registered or certified mail, postage prepaid, return-receipt requested), nationally recognized overnight courier (fees prepaid), facsimile, or email.
• (b) Addresses. A party shall address notices under this section to a party at the following addresses:
• If to the Original Tenant:
• If to the New Tenant:
• (c) Effectiveness. A notice is effective only if the party giving notice complies with subsections (a) and (b) and if the recipient receives the notice.

14. WAIVER.

No waiver of a breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this assignment will be effective unless it is in writing and signed by the party waiving the breach, failure, right, or remedy. No waiver of any breach, failure, right, or remedy will be deemed a waiver of any other breach, failure, right, or remedy, whether or not similar, and no waiver will constitute a continuing waiver, unless the writing so specifies.

15. ENTIRE AGREEMENT.

This agreement constitutes the final agreement of the parties. It is the complete and exclusive expression of the parties' agreement about the subject matter of this agreement. All prior and contemporaneous communications, negotiations, and agreements between the parties relating to the subject matter of this agreement are expressly merged into and superseded by this agreement. The provisions of this agreement may not be explained, supplemented, or qualified by evidence of trade usage or a prior course of dealings. Neither party was induced to enter this agreement by, and neither party is relying on, any statement, representation, warranty, or agreement of the other party except those set forth expressly in this agreement. Except as set forth expressly in this agreement, there are no conditions precedent to this agreement's effectiveness.

16. HEADINGS.

The descriptive headings of the sections and subsections of this assignment are for convenience only, and do not affect this agreement's construction or interpretation.

17. EFFECTIVENESS.

This assignment will become effective when all parties have signed it.The date this assignment is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this assignment.

18. NECESSARY ACTS; FURTHER ASSURANCES.

Each party shall use all reasonable efforts to take, or cause to be taken, all actions necessary or desirable to consummate and make effective the transactions this assignment contemplates or to evidence or carry out the intent and purposes of this assignment.

[SIGNATURE PAGE FOLLOWS]

Each party is signing this agreement on the date stated opposite that party's signature.

[PAGE BREAK HERE]

LANDLORD'S CONSENT  AND RELEASE

As Landlord under the Lease, I hereby consent to this assignment of the Lease, and to the New Tenant's assumption of the Original Tenant's obligations under the Lease, including the obligation to pay rent when it is due. As of the Effective Date, I release the Original Tenant from all liability for obligations (including rent payments) under the Lease However, the Original Tenant remains primarily obligated as tenant under the Lease and I do not waive or relinquish any rights under the Lease against either the Original Tenant or the New Tenant.

EXHIBIT A Attach copy of Lease

Free Assignment of Commercial Lease Template

Transfer your commercial lease to a new tenant smoothly. create an assignment of a commercial lease to clearly articulate the new tenant's rights, responsibilities, and obligations..

Complete your document with ease

How-to guides, articles, and any other content appearing on this page are for informational purposes only, do not constitute legal advice, and are no substitute for the advice of an attorney.

Assignment of commercial lease: How-to guide

Occasionally, tenants wish to leave a rental property before the end of their lease. Individuals may take new jobs in new cities, and companies may go out of business or sell their enterprises to a third party. 

Whatever the reason, tenants can transfer their original commercial lease to new parties by completing an assignment of the lease.

An assignment transfers one party's interest and obligations under a lease to another party. 

During these tenant transfers, the new tenant takes on the lease responsibilities, including paying rent and property maintenance of the leased premises, and the original tenant is released from most of their duties.

Successful property management begins with good documentation and a properly drafted, executed assignment: 

Ensures that all parties involved understand the obligations being transferred 

Defines the responsibilities that each party will have under the new arrangement 

Lays the foundation for a long-lasting landlord and new tenant relationship 

Important aspects to consider when drafting commercial leases

Laws about the original commercial lease agreement.

State laws governing real estate, renting, leasing, and assignments vary widely and can tremendously affect your arrangement. 

Since the tenant is legally responsible for this document, they must include specific information like financial statements in the commercial lease assignment. Consider your state and local laws for additional information required in your area.

Criteria for commercial landlords in providing consents

A landlord may consider only proper factors when deciding whether or not to consent to an assignment. 

Some criteria will be regarded as impermissible by courts, such as refusal based on race or sex of the proposed new tenant. If your landlord does not consent to your attempted assignment, ensure they give you clear written reasons for the decision. Failure to provide such reasons can itself be deemed unreasonable.

Consequences of not providing consent 

It is essential to seek the landlord’s permission for the proposed transfer of the duties. 

Depending on your jurisdiction or the terms of your original lease, a landlord’s failure to respond to your request for consent to assignment within a specific time may be deemed consent. Sometimes, it may give the assigning tenant grounds to terminate the lease. Review the original lease and your state’s laws for additional details.

Although a landlord is not required to consent to a lease assignment agreement, in some cases, your lease will state that a landlord’s consent will not be “unreasonably” withheld. This is more common in commercial leases than in a residential lease. What is considered unreasonable varies from jurisdiction to jurisdiction, and you should review the laws in your area (and the assignment clause in your original lease agreement) for additional information. On the other hand, if the lease states that the landlord may use their “sole discretion” to evaluate the new tenant, they can veto this assignment without any reason.

Rights of the original tenant

The original tenant cannot assign more rights than the original lease. For example, if the lease term is one year, the assignment term cannot be two years.

Review the lease assignments before signing

Most leases require the landlord’s written consent before an assignment becomes effective. Review the assignment provisions and the original lease agreement for additional information and see if other requirements must be met to make the lease assignment agreement valid.

Get the assignment signed

Sign three copies of the assignment, one for you, the other party, and the landlord. Depending on the nature of its terms, you may decide to have the document witnessed or notarized. This will limit later challenges to the validity of a party’s signature. 

Be sure the assignee gets a copy of the original lease by attaching it to the assignment. Its terms will bind them, and they should know their new obligations and rights.

If your agreement is complicated, contact an attorney to help draft a document that meets your needs. 

Key components of a commercial lease assignment 

The following instructions will help you understand the terms of your assignment. 

Introduction 

In this section, identify the parties and, if applicable, what type of organization(s) they are. Write down how the document identifies each party. For example, the current tenant can be addressed as the “original tenant” or “assignor” as they assign the lease to the new tenant, and the new tenant can be called the “new tenant” or “assignee.”

Furthermore, add the date on which the assignment will become effective – when it is signed. 

The “whereas” clauses, referred to as recitals, define the world of the agreement and offer essential background information about the parties. 

In this assignment, the recitals include a simple statement of the parties’ intent to assign the original tenant’s interest in the lease and the new tenant’s intent to assume it. Provide a brief description of the rented property and the landlord’s name under the lease.

You don't need to include a complete legal description for the property description, but provide enough information to identify it. For individual houses, the address will usually be sufficient. If the property has a specific name (e.g., “Lincoln Towers”), include that as well. If only a section of the premises is assigned, clarify that in this description. 

This section mentions the assignor’s assignment of their right and interest in the lease to the assignee. This assignment clause allows you to determine whether all of the assignor’s interest in the lease is being assigned or only part of it. For example, if interest in only one-half of the premises is being assigned, the document should note this. 

Assumption of rights and duties

This section clarifies the assignor’s responsibilities for the duties listed under the lease (e.g., rent, maintenance of property, etc.). For example, whether:

The assignor is ultimately released from any liability they had under the lease. For example, if the assignee defaults, the landlord cannot seek payment from the assignor.

The assignor will be liable to the landlord if the assignee defaults. 

In any event, the assignor will remain responsible for any obligations that occurred before the assignment. In other words, if the damage happened to the apartment before the transfer or the assignor did not fulfill another obligation under the lease, the assignor remains responsible for the building occupied.

Reimbursement

In many rental relationships, amounts are paid in advance or deposited as security for the landlord. 

At the end of the lease, this security deposit (with deductions subtracted or interest added) is returned to the tenant. If an entire interest is assigned, the lease does not end, and the assigning party cannot get this money back. This paragraph requires the assignee to pay those amounts to the assignor, and any later return of that money by the landlord will be made to the assignee.

Indemnification

In such clauses, the assignee promises to bear the financial cost of any injury the assignor suffers due to its assignment and any lawsuits arising from its activities on the premises. Note that there is an exception for things done by the assignor before the effective date of the assignment — the assignor remains responsible for those actions.

Continuing effectiveness of lease 

Here, emphasize that the original lease terms are still effective to the assignee, except for the assignment.

Assignor’s representations and warranties 

List the assignor’s promises under the assignment. Note that this is not a detailed list of services to be provided. Instead, this is the assignor’s assurance that the lease and the rental interest it’s providing are helpful (i.e., no one else lives or has an interest in the place, the lease is still in effect, the assignor is not behind in rental payments, etc.). If there are additional representations the assignor should be making, feel free to include those here.

Condition of premises

Here, mention that the premises are not warranted to be perfect or valuable in a particular way. Instead, the assignee is taking the rented property for what it is and is accepting it in that state.

Additional terms of assignment

This optional provision allows the assignor and the assignee to include any representations, warranties, or other provisions particular to their situation. 

Interpretation

This section provides information that both parties were on equal footing in negotiating the consent to assignment. In many cases, a contract is interpreted favorably by the individual who did not draft it. This clause clarifies that both parties were involved in the drafting, so the document should not be read in favor of (or against) either.

Here, list the addresses to which all official or legal correspondence should be delivered. This can be the tenant’s business address or the mailing address for both the assignor and the assignee. 

Modification

This section indicates that any changes to the document are only effective if they are made in writing and signed by both parties.

Governing law

This section allows the parties to choose the state laws used to interpret the document. 

Counterparts; electronic signatures

This section explains that even if the parties sign the assignment in different locations or use electronic devices to transmit signatures (e.g., fax machines or computers), the separate pieces will be considered part of the same agreement. In a modern world where signing parties are often not in the same city—much less the same room — this provision ensures that business can be transacted efficiently without sacrificing the validity of the agreement as a whole.

Entire agreement

This clause mentions that the document parties are signing is “the agreement” about the issues involved. Unfortunately, the inclusion of this provision will not prevent a party from arguing that other enforceable promises exist, but it can provide you some protection from these claims.

Landlord’s consent and release 

Review the terms of the original lease agreement to determine whether or not the landlord’s consent is required to make the assignment effective. This is usually the case. If so, have the landlord sign the document. 

Frequently asked questions

What is the purpose of an assignment of lease.

Whether it's because it's time to move to a new space or city, business isn't booming, a company gets sold, or otherwise, sometimes commercial tenants must leave a lease before it ends. And sometimes, they may want to transfer the responsibilities of their lease to someone new. A lease assignment occurs in this case.

Here's the information you'll need to have handy to complete your assignment of commercial lease:

Who the old tenant is : Have their name and contact information ready

Who the new tenant is : Have their information available

What is the difference between an assignment and a sublease?

An assignment transfers one party's interest in an agreement to a third party. In this case, the original tenant gives all their interest to a new tenant. That new tenant steps into the shoes of the old tenant and the old tenant is released from most of their obligations under the lease (although this can be changed by agreement). 

This is not the same as a sublease. Under a sublease , a third party is granted only those specific rights provided in the sublease. The original tenant remains ultimately liable for residual obligations under the lease or any failures of the new tenant to meet their obligations. This means that the original tenant will be responsible (in equal measure with the new tenant) for any skipped rent payments or damage to the property.

Related templates

Assignment of Agreement

Transfer work responsibilities efficiently with an assignment of agreement. Facilitate a smooth transition from one party to another.

Assignment of Residential Lease

Simplify lease transfers with an assignment of residential lease agreement. With the landlord's approval, smoothly transfer your lease responsibilities to a new tenant while documenting the arrangement comprehensively.

Landlord Consent to Assignment

Facilitate lease transfers with a landlord consent to assignment form. Provide tenant and landlord information, along with the rental property address, and grant permission for the lease transfer easily.

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Legal Templates

Home Real Estate Lease Agreement

Rental and Lease Agreement Templates

Use our Lease Agreement to rent out your residential property.

Updated May 15, 2024 Written by Jana Freer | Reviewed by Susan Chai, Esq.

A lease agreement (or rental agreement) is a document that explains the terms under which a tenant rents a residential or commercial property from a landlord.

Lease agreements are legally binding contracts that explain the obligations and rights of the tenant and landlord. Even if you’re renting out a room in your house to a friend or family member, you need a lease agreement for legal protection if you encounter problems with your tenants.

Lease Agreements – By State

• Connecticut
• District of Columbia
• Massachusetts
• Mississippi
• New Hampshire
• North Carolina
• North Dakota
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• West Virginia
• Lease Agreements - By State
• Lease Agreements - By Type

How to Lease a Property [Landlord Lifecycle]

• Landlord's Access

Security Deposit

Lease terms to know, how to write (fill out) a lease/rental agreement, sample lease agreement, frequently asked questions, lease agreements – by type, residential lease agreement forms [for landlords].

Use this template to rent out a residential property for a fixed period of typically one year.

This agreement includes the most essential and common clauses and can be used for a house, apartment, studio, condo, duplex, townhouse, basement, or mobile home.

Standard Lease Agreement

Use this template if you don’t want to commit to renting out your property for a full year or more, but still need to protect your rights. Using a monthly lease allows you (and your tenant) to be flexible.

Month-to-Month Lease Agreement

Use this template to rent out your property for a short period of time (usually between 1–31 days), most commonly as a vacation rental. A short-term rental agreement explains to guests the rules of their stay, and what they can expect when they arrive.

Short Term (Vacation) Rental

Rent-to-Own Lease Agreement

Lease Extension Agreement

Lease Renewal Agreement

Sublease agreement forms [for tenants].

Use this template to rent out a property (or just a room) when you’re already renting the property from another landlord. For example, you may want to sublet a property if you need to move out but don’t want to break your lease.

Sublease Agreement

Use this template when you’re renting out a room in your property and need to set rules and boundaries. For example, you can use this agreement to explain how you'll divide rent and utility payments, and whether your tenant can have guests visit.

Room Rental Agreement

Roommate Agreement

Commercial lease agreement forms.

Use this template if you’re renting out an office building, retail space, restaurant, industrial facility, or any property where the tenant will operate a business.

Commercial Lease Agreement

Use this template to rent out a piece of land that does not have a property on it. A land or ground lease can have multiple purposes, including agricultural, residential, and commercial.

Land Lease Agreement

Equipment Lease Agreement

Parking Space Rental Agreement

Disclosures & addendums.

Commercial Lease Agreement Addendum

Residential Lease Agreement Amendment

Lease Agreement Amendment

Rental Inspection Checklist

Rent Receipt

Tenant Approval Letter

Tenant Rejection Letter

• Asbestos Disclosure ( Word ) – Notifty tenants of asbestos at the property (required for properties built before 1979).
• Bed Bug Addendum ( Word ) – Explain how both parties should act in case of a bedbug infestation.
• Carbon Monoxide and Smoke Detector Addendum ( Word )– State whether the landlord will provide carbon monoxide/smoke detectors and how the tenant is responsible for keeping them in good condition.
• Commercial Lease Addendum ( PDF ) – Modify an existing commercial lease or expand upon the current contract.
• Death in Rental Unit Disclosure ( Word ) – Inform the tenant if anyone previously died on the property.
• Disclosure of Lead-Based Hazard s ( PDF ) – Notify tenants of lead-based paint or other materials (required for properties built before 1978).
• Flood Hazard Area Disclosure ( Word ) – State whether the property is in a special flood hazard area.
• Foreclosure Notice ( Word ) – Inform the tenant of an impending foreclosure.
• Illegal Substance Contamination Disclosure ( Word ) – Notify the tenant if parts of the property have been contaminated due to manufacturing or storing an illicit substance (such as methamphetamine).
• Mold Disclosure ( Word ) – Notify the tenant that the property may contain mold and whether the landlord will fix it.
• Notice of Abandoned Personal Property ( Word ) – Tell the tenant they left something in the unit when they moved out and need to collect it before it’s thrown out.
• Pet Addendum ( PDF , Word ) – Let a tenant know the specific rules for having a pet on your property.
• Shared Utilities Disclosure ( Word ) – Explain how utilities are calculated and shared between multiple residents.
• Smoke-free Addendum ( PDF , Word ) – Specify whether your tenant can smoke marijuana or tobacco on your property.

Follow the steps below to rent your property easily:

Step 1 – Show Your Rental Unit to Tenants

The first step in renting out a house or an apartment is to allow people to view the property . If tenants like the property and want to move in, they will likely inquire about the rent amount and other details.

Hosting viewings can be inconvenient if you have multiple properties, so many landlords hire a property management company to show their rental units to potential tenants.

Step 2 – Give the Tenant a Rental Application Form to Fill Out

Once you agree on the rent price, the tenant should complete a rental application . This form helps the landlord screen the tenant, and it includes information such as the applicant’s:

• Current address
• Place of employment
• Income level
• Rental references

The tenant can confirm their workplace using an employment verification letter . This document is accessible for renters to show proof of income.

Typically, landlords require a small, non-refundable fee from the tenant to process the rental application.

Be aware of what you can and can’t ask on a rental application to abide by federal laws and prevent discrimination in the selection process.

Step 3 – Run a Background and Credit Check

After reviewing the tenant’s application, you should run a background check (and/or a credit check).

Running a credit check as part of the tenant-screening process can help avoid scams and problem tenants. The tenant usually pays for the cost of a credit check.

A background check shows if the applicant has a prior criminal history, and a credit check confirms whether the applicant has good or bad credit. Bad credit may signify poor financial planning, resulting in missed rent payments.

Although these checks help you avoid dealing with bad tenants, you shouldn’t base your decision to rent the property solely on the results.

Many states have strict guidelines on tenant discrimination. Refusing tenancy because of minor criminal offenses or bad credit may justifiably violate federal anti-discrimination law.

Step 4 – Check the Tenant’s References

Next, you must check the tenant’s references in their rental application form mentioned in step 2.

You should contact the references and ask questions such as:

• Did the applicant pay their rent and utilities on time?
• Were there any noise complaints at the tenant’s previous apartment?
• Have the police ever been called to the tenant’s last rental unit?
• Would you consider renting to this person again?

Rental references are usually from current or previous landlords and can give insight into the tenant’s character and behavior.

Step 5 – Create a Lease Agreement

Once you’re happy to rent your property to a tenant, you must create a lease/rental agreement in the correct format.

You make a lease agreement by writing it yourself from scratch, filling in a blank lease agreement template that includes all the necessary clauses, or using a lease agreement builder to create a lease specific to your property.

Remember to include the following:

• The move-in date
• The monthly rent payment amount
• When the rent is due each month
• How you’ll handle late rent payments
• Who should pay or manage the utilities
• The penalties, if any, for breaking a lease

Both parties sign the agreement after you create the lease contract and review all the details with the tenant. You may need to calculate prorated rent depending on when the tenant moves in.

Step 6 – Hand Over the Keys

Once the lease agreement is completed and signed, give the tenant the keys to move into the property.

Remember to conduct a unit walkthrough alongside the tenant to finish the process. Bring a rental inspection checklist and document the property’s condition before the tenant moves in.

Step 7 – Renew or Terminate the Lease

Allow the tenant to remain on the property until the lease termination date. If you thought your tenant was responsible and you want to renew their lease (and they also want to renew), use a lease renewal agreement to renew their tenancy.

If you don’t want to renew the lease, use a lease termination letter . 

Landlord and Tenant Laws by State

Federal law recognizes that landlords and tenants have individual legal rights and obligations .

Find out what the law in your state says about your rights using the table below, or check the following specific laws for your property:

Landlord-Tenant Acts

Here are the general landlord-tenant acts by state:

Landlord’s Access

Tenants have the right to privacy when they rent a property. However, there may be reasons why a landlord needs to access the property , such as for maintenance or inspections.

Nearly every state requires a landlord to give advance notice to their tenants before accessing a rental unit. Use the table below to check how much notice you need to give in your state and review the relevant law:

Each state regulates the maximum amount of money a landlord can collect as a security deposit from a tenant. Some states also require landlords to return security deposits to tenants within a specific time (potentially with interest).

Usually, a landlord can deduct the following costs from the tenant’s security deposit:

• Unpaid rent
• Cleaning costs
• Key replacement costs
• Cost to repair damages above ordinary wear and tear
• Any other amount legally allowable under the lease

Use the table below to see the maximum security deposit limit in your state, whether it needs to be held in a separate account, and how much time you have to refund it after the lease ends:

Here are some helpful definitions for the legal language commonly present in lease and rental agreement forms:

• Access : The right to enter a property.
• Accidents : Artificial or naturally occurring events that may damage a property (fire, flood, earthquake, etc.).
• Alterations : Modifications made to a property.
• Appliances : Standard home equipment like a refrigerator or dishwasher.
• Assignment : The transfer of an interest in a lease.
• Attorney Fees : A payment made to a lawyer.
• Condemnation : The government is seizing private property for a public purpose, such as highway construction.
• Default : When a breach of contract occurs and persists, such as not paying rent or violating other terms of a rental agreement.
• Furniture : Standard home equipment such as couches, tables, beds, etc.
• Guarantor /Co-Signer : Someone accountable for paying rent if the tenant cannot.
• Guests : Short-term occupants of a rental property.
• Joint and several liabilities : Two or more people are independently held accountable for damages, regardless of who is at fault.
• Late Rent Fee : An additional, reasonable sum of money paid by a tenant after making a rent payment past the due date listed in the landlord-tenant agreement.
• Noise Policy : A provision outlining “quiet hours” in the apartment building, condominium, or neighborhood.
• Notice : A written announcement of some fact or observation.
• Option to Purchase : The tenant’s right to purchase the rental property later.
• Parking : Designated spaces where the tenant can keep their vehicles.
• Pet Policy : The permission or restriction of a tenant’s ability to have an animal in a rental property.
• Property Maintenance : Preserving a rental unit and who is responsible. Such as cutting the grass, removing the garbage, or unclogging the kitchen and bathroom drains.
• Renewal : A tenant’s option to continue the lease.
• Renter’s Insurance : A paid policy that protects personal belongings against theft or damage.
• Severability : A clause of a lease stating that if one part of the agreement is invalid for any reason, the rest of the lease is still enforceable.
• Smoking Polic y: The permission or restriction of a tenant’s smoking ability inside a rental property.
• Sublet : A temporary housing arrangement between current and new tenants to rent all or part of the currently leased property. The subletting period must be for less than the lease term.
• Successor : Someone who takes over the obligations of a lease from a tenant or landlord.
• Utilities : A public or private service supplying electricity, water, gas, or trash collection to a property.
• Waterbed : A water-filled furnishing used to sleep and not typically permitted in most rental properties.

Here’s how to write a lease :

Step 1 – Name the Parties

A simple rental agreement form must name the parties signing the lease and where they live. First, you should write down the following:

• The landlord or property management company and their current address

Step 2 – Describe the Premises

The “premises” are the exact address and type of rented property , such as an apartment, house, or condominium.

Step 3 – Define the Terms of the Lease

The “term” is the length of time a tenant will rent the listed property. A standard agreement should detail when the lease term begins and ends .

Furthermore, a lease can either be fixed-term or month-to-month.

• A fixed-term rental lease means the agreement is set for a predetermined or fixed period. This lease expires on the end date listed in the agreement (usually up to 6 months, one year, or two years from the start date).
• A month-to-month rental lease means the agreement lasts one month with no defined end date. It continues monthly until either the landlord or tenant terminates the agreement.

Step 4 – Set How Much Rent the Tenant Will Pay

A lease agreement must explicitly list the monthly rental amount and outline the consequences of late rent.

It’s up to the landlord to decide how much to charge for rent, but the cost is usually comparable to other properties within the same area.

In addition, standard rent control laws may limit the amount you can charge for rent. Check your local rent control ordinance to ensure your lease agreement complies with those regulations.

Step 5 – Assign a Security Deposit Amount

A security deposit is a set amount of money a landlord collects at the beginning of the lease.

Landlords have the right to collect a security deposit from their tenants. Still, their states’ security deposit laws define what landlords can use that money for (check the security deposit laws of your state ).

Step 6 – Finalize the Lease

Once you finish discussing the details with your tenant, remember to:

• Print – print at least two copies of the rental lease for you and the other party
• Sign – sign and date the lease agreement (both the tenant(s) and landlord)
• Save – safely file a hard copy of the signed document and consider scanning an electronic copy for extra safekeeping.

The following standard residential lease agreement works for all states except California , Florida , and Washington, DC .

Why do I need a lease agreement?

]You need a lease agreement because it explains your responsibilities as a landlord and sets rules for the tenants living on your property. This form helps you avoid disputes with your tenants and address issues when they arise.

Suppose you rent out a property but don’t use a lease agreement. In that case, you could lose rent money, be liable for illegal activities on the property, receive penalties for unpaid utility costs, or spend a lot on property damage repairs and lawyer fees. Anyone renting a home, land, or commercial building should have a lease agreement.

How do I rent a room in my house?

You rent out a room in your house by using an agreement stating you’re renting out a room, not the entire property. If you’re a tenant living in a rental property, you can sublet a room to another tenant using a room rental agreement .

A standard residential lease and a room rental agreement allow you to establish quiet hours, the times guests can visit, the division of utility payments, and rules regarding pets, smoking, and parking.

Both parties sign the agreement to rent a room, and the landlord collects a security deposit from the tenant before handing over the keys.

What’s the difference between a lease and a rental agreement?

The difference between a lease and a rental agreement is the duration of the contract. Lease agreements are typically long-term (12 to 24 months), whereas rental agreements are usually short-term (a few weeks or months).

If you decide whether a lease or rent is best for you, remember that a lease agreement provides more security, but a rental agreement offers more flexibility.

What are my responsibilities as a landlord?

Your responsibilities as a landlord include the following:

• Repairing and maintaining the normal wear and tear of appliances like the air conditioner or heater.
• Respecting a tenant’s right to “quiet enjoyment” (living without disturbances). For example, you should deal with noise complaints accordingly, and you shouldn’t visit the property unnecessarily.
• Providing the tenant with a safe and clean home for the lease term. Examples include removing mold , resolving water damage, and fixing ventilation problems.
• Returning the tenant’s security deposit if the tenant treats the property respectfully and the rental is in good condition at the end of the lease term.
• Giving the tenant advance notice when you must enter the premises to fix something or show someone the property.

What happens if a tenant violates a lease?

If a tenant violates a lease , the landlord may try to resolve the problem by allowing the tenant to fix it (unless the violation is significant, such as using the property to sell or manufacture illegal drugs). If the issue is not resolved within a specific period (as set by state law), the landlord can begin eviction to remove the tenant.

Common lease violations include unpaid rent/utility bills and damage to the property.

What should I include in a lease agreement?

You should include the following information and clauses in a lease agreement:

• Names of all tenants : Write the names of every adult living on the property.
• Term : State the lease’s duration and whether it’s for a fixed period or will automatically renew.
• Rent : Set the amount of money the tenant will pay to live in the property and which day of the month the tenant will pay the rent.
• Premises : Describe the property and its location.
• Security deposit : Assign an amount of money the tenant will give the landlord to hold in case of any damages

Depending on your property and its location, you may need to include some standard disclosures and addendums that address specific situations, such as smoking or pets.

Related Documents

• Lease Termination Letter : A document created by the landlord or tenant in order to end an existing lease or rental agreement.
• Lease Renewal Agreement : Extends the term of an existing lease agreement between a landlord and a tenant.
• Eviction Notice : A written record that the Landlord properly notified the Tenant of a problem (i.e. lease violation, late rent, the lease ended).
• Legal Resources
• Partner With Us
• Terms of Use
• Privacy Policy
• Do Not Sell My Personal Information

The document above is a sample. Please note that the language you see here may change depending on your answers to the document questionnaire.

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