Lease terms have always been perceived as complicated. While true most of the time, it is crucial that you understand the terms before affixing your signature to the contract. Through learning more about copier lease terms, anyone who’s about to engage with a leasing company is ready to ask about important details like price and length of the contract.
If you are one of those who feel like reading even the smallest prints in the contract isn’t for them because it’s “too hard” to understand, well this post is for you. And let me assure you as early as now, it’s not that complicated, nope!
Let’s start…
A copier rental or lease agreement is the party that grounds the rules that tenants have to agree with for a lease relationship or contract to commence. Since it is legally binding, the contract should include information such as the details of the rental company, the details of the tenant, how long will the contract last, as well as the amount to lease for the months to run. There are contracts that are as long as 10 pages; however, they can also be as short as 1 page, only and can either be hand-written or typed.
What are the 5 most important lease details to remember?
Tenant Details
All persons involved in renting the machine should be included in the written contract. The renters referred to as tenants should affix their signatures in the designated place in the document. This will serve as proof that the tenants are legally responsible to take care of the equipment; covering also the aspects of how to use it properly and the monthly payment that comes with it. If there are multiple tenants, the contract will give the rental company the right to also seek payment and other obligations from other listed names as borrowers.
Location & Its Limits
The contract has clear specifications of the locations where the machine will be used, or brought to. This is one important detail that rental companies sometimes miss. This detail will reserve the right to the rental company in terms of determining who can transport and use the equipment as well as where to transport it, should a need to bring it to a specific location arise. For this matter, the rental company can retrieve the equipment anytime if any of these details aren’t followed.
Tenancy
Like all other documents, the lease contract should be put into writing whether the contract is a fixed-term or per-month rental agreement. To simplify this, rental agreements are often based on a per-month payment and renews until either party in the contract ends it. A lease, on the other hand, is a fixed payment for a pre-determined length of time. Often, leases run for a year. The choices, then, should depend on how long the tenant will use the equipment or how much flexibility is needed with regard to the need of use.
See Details
The lease agreement contract must include how much the rent per month is (or how much the lease is in a year), the due dates for the payments, and the mode of payment. To make sure that no party is confused in this part of the contract, it’s best to bullet this part and print it in bold. For instance:
- Payment per month: ___________
- Date due per month: ___________
- Acceptable modes of payment: ____________
- Late fees for late payments: _______________
Deposits, if there are
The return and use of (security) deposits are the most common cause of disagreements between rental companies and tenants. So, to avoid legal hassles and confusion, the written contract should be clear about:
- Security deposit amount (This should company with the state’s law)
- instances where the rental company can have the right to use the deposit (The most common instances for this are repair of broken parts, loss of equipment, or failure to pay a monthly rental fee)
- How and when the deposits can be returned or deducted from the monthly/yearly payments
It will also be an excellent idea to specify where the deposits are held and if interests are to be paid to the tenants.
While all of these details are crucial in lease agreement contracts, it is more important to find a reliable and trustworthy vendor/rental company. Before anything else, make sure that the vendor you are doing business with is going out of their way to explain even the tiniest details to you.
At Copier Lease Charlotte, we value our clients’ feedback on reliance and dependability. Not only do we make sure that the contracts are explained thoroughly; but we also make sure that we provide the best equipment model according to needs and workload.
If you plan to get copiers for your office in Charlotte, you can opt to buy copiers or lease copiers in Charlotte. We can give you the option to get the copier that you want. You can contact our local copier leasing services department in your location.
If your Location is around Charlotte, you may call us at (704) 266-3866, our personnel for copier leasing in Charlotte will assist you. If you are also looking for copier repair services in Charlotte, you may contact our copier repair personnel at the same number.
For more information, contact us now!
