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The Maine Standard Lease Agreement prescribes a drafted report to detail the leasing of a property in exchange for a predetermined monthly dollar amount. The rights gained in ownership of a residential unit can be granted to another in an arrangement to receive funds on a monthly basis. The common agreement is registered to form to hold the parties to their required responsibilities for the duration of the transaction. Spelled out in the transcript are fillable fields to set forth the names of the lessee and lessor, identify the rental property, and establish the payment specifics. Additional paragraphs constitute the policies and procedures to be adhered to for the length of the term to avoid a breach of contract. Upon signing the document, all parties commit to the terms and conditions within the paperwork, and commencement of the contractual obligation will be considered binding.

Rental Application – To ensure an applying individual can afford the payments related to the rental of a unit, it is typical for a landlord to require a prospective tenant to fill out an application. The paperwork will provide needed information to run a background examination to support in the leasing process. There is generally a fee associated with the investigation into an applicant’s history, that will most often be charged to the lessee.