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A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
Identify the parties: The full name of the parties must be on the contract. In a sales contract, the parties are the seller(s) and buyer(s) of the real estate, who are often called the principals to distinguish them from real estate agents , who are effectively their intermediaries and representatives in negotiation of the price.
English: Combines elements of a traditional rental agreement with an exclusive right of first refusal option for later purchase on the home. It is a shortened name for Lease with Option to Purchase Contract.
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