RESIDENTIAL LEASE / RENTAL AGREEMENT
This agreement made this __________day of (mo.) ____________________ (yr.) _______________________,
is between ______________________________________________________________ (hereinafter called Management)
and (PRINT NAME[S])
_____________________________________________
_____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ (hereinafter called Resident[s]). _____________________________________ Shall be designated as the responsible signer on the lease and shall be responsible for delivering the total amount of monthly rent to Management each month, but all terms shall apply to all Residents.
Management leases to Resident, and Resident rents from Management, residential unit located at _____________________
____________________________________________________ (hereinafter called premises), under the following conditions:
1. TERM:
The initial term of this lease shall be ____________________________, beginning (mo./day) _________ (yr.) ______ and ending Noon, (mo./day) _________ (yr.) ______, OR Month to Month beginning (mo./day) _________ (yr.) ______ .
2. POSSESSION:
If there is a delay in delivery of possession by Management, rent shall be abated on a daily basis until possession is granted. If possession is not granted within seven (7) days after the beginning day of the initial term, then Resident may void this agreement and have full refund of any deposit. Management shall not be liable for damages for delay in possession.
3. RENT:
Rent is payable monthly, in advance, at a rate of ___________________ dollars ($_________), per month, during the term of this agreement on the first day of each month at the office of Management or at such other place Management may designate. Tenant agrees to pay $30 for each dishonored check.
4. RENT DISCOUNT
Time is of the essence of this agreement. If the rent is accepted before the close of the business day, on the 4th of each month, the rate will be _______________________ dollars ($_________), and any returned check will be considered as unpaid rent, and not subject to discount.
5. EVICTION:
If the rent called for in paragraph 3 hereof has not been paid by the fifteenth (15th) of the month, then Management shall automatically and immediately have the right to take out a Dispossessory Warrant and have Resident, his/her family and possessions evicted from the premises.
6. INDEMNIFICATION DEPOSIT:
Management acknowledges receipt of ___________________________ dollars ($_________), as a deposit to indemnify owner against damage to the property and for Resident’s fulfillment of the conditions of this agreement. Deposit will be returned to Resident less a $100 carpet cleaning charge, within thirty (30) days after the residence is vacated if:
a)Lease term has expired or agreement has been terminated by both parties; and
Lease term has expired or agreement has been terminated by both parties; andb)All monies due Management by Resident have been paid; and
All monies due Management by Resident have been paid; andc)Residence is not damaged and is left in its original condition, normal wear and tear expected; and
Residence is not damaged and is left in its original condition, normal wear and tear expected; andd)Management is in receipt of copy of paid final bills on all utilities (includes gas, electric, water, garbage, and telephone).
Management is in receipt of copy of paid final bills on all utilities (includes gas, electric, water, garbage, and telephone).e)Deposit will not be returned if Resident leaves before lease time is completed. Deposit may be applied by Management to
Deposit will not be returned if Resident leaves before lease time is completed. Deposit may be applied by Management to satisfy all or part of Resident’s obligations and such act shall not prevent Management from claiming damages in excess of the deposit. Resident may not apply deposit to any of the rent payment.7. RENEWAL TERM:
It is the intent of both parties that that this lease is for a period of __________ months and Should this lease be breached by the Resident, the indemnification deposit shall be forfeited as liquidated damages and the Resident will owe rent through the last day of occupancy.
8. SUBLET:
Resident may not sublet residence or assign this lease without written consent of Management. All residents shall be listed on this initial lease agreement.
9. CREDIT APPLICATION:
Management having received and reviewed a credit application filled out by Resident, and Management having relied upon the representations and statements made therein as being true and correct, has agreed to enter into this rental agreement with Resident. Resident and Management agree the credit application Resident filled out when making application to rent said residence is hereby incorporated by reference and made a part of this rental agreement. Resident further agrees if he/she has falsified any statement on said application, Management has the right to terminate rental agreement immediately, and further agrees Management shall be entitled to keep any security deposit and any prepaid rent as liquidated damages. Resident further agrees, in event Management exercises its option to terminate rental agreement, Resident will remove him/herself, his/her family, and possessions from the premises within 24 hours of notification from Management of the termination of his lease. Resident further agrees to indemnify Management for any damages to property of Management, including, but limited to, the cost of making residence suitable for renting to another Resident, and waives any right of “set off” for the security deposit and prepaid rent that was forfeited as liquidated damages.
10. FIRE AND CASUALTY:
If residence becomes uninhabitable by reason of fire, explosion, or by other casualty, Management may, at its option, terminate rental agreement or repair damages within 30 days. If Management does not do repairs within this time or if building is fully destroyed, the rental agreement hereby created is terminated. If Management elects to repaid damage, rent shall be abated and prorated from the date of the fire, explosion, or other casualty to the date of reoccupancy, providing during repairs, Resident has vacated and removed Resident’s possessions as required by Management. The date of reoccupancy shall be the date of notice that residence is ready for reoccupancy. Residents are advised to obtain their own renter’s insurance policy as management will not be responsible for resident’s personal property due to damage or theft.
11. HOLD OVER:
Resident shall deliver possession of residence in good order and repair to Management upon termination or expiration of this agreement. At the end of this lease term, Management and Resident(s) may agree in writing to extend this lease with its existing terms to a month to month agreement. This extension is at the sole discretion of Management.
12. RIGHT OF ACCESS:
Management shall have the right of access to residence for inspection and repair or maintenance during reasonable hours. In case of emergency, Management may enter at any time to protect life and prevent damage to the property.
13. USE:
Residence shall be used for residential purposes only and shall be occupied only by the persons named in Resident’s application to lease. The presence of an individual residing on the premises who is not a signator on the rental agreement will be sufficient grounds for termination of this agreement. Residence shall be used so as to comply with state, county, and municipal laws and ordinances. Resident shall not use unit or permit it to be used for any disorderly or unlawful purpose or in any manner so as to interfere with other Residents’ quiet enjoyment of their residence(s).
14. PROPERTY LOSS:
Management shall not be liable for any type of damage to Resident’s property for any reason or cause whatsoever, except where such is due to Management’s gross negligence. Resident acknowledges that he/she is aware that he/she is responsible for obtaining any desired insurance for fire, theft, liability, etc. on personal possessions, family, and guests.
15. PETS:
Animals, birds, or pets of any kind shall not be permitted inside any part of the residential unit or on the property at any time unless the prior written approval of Management has been obtained.
16. INDEMNIFICATION:
Resident releases Management from liability for and agrees to indemnify Management against losses, incurred by Management as a result of (a) Resident’s failure to fulfill any condition of this agreement; (b) any damage or injury happening in or about the residence or premises to Resident’s invitees or licensees or such person’s property; (c) Resident’s failure to comply with any requirements imposed by any governmental authority; and (d) any judgment, lien, or other encumbrance filed against residence as a result of Resident’s action.
17. ACTION FAILURE OF MANAGEMENT:
Failure of Management to insist upon compliance with all the terms of this agreement shall not constitute a waiver of any violation.
18. REMEDIES CUMULATIVE:
All remedies under this agreement or by law or equity shall be cumulative. If a suit for any breach of this agreement establishes a breach by Resident shall pay to Management all expenses incurred in connection therewith.
19. NOTICES:
Any notices required by this agreement shall be in writing and shall be delivered personally or mailed by registered or certified mail.
20. REPAIRS:
Management will make necessary repairs to the exterior with reasonable promptness after receipt of written notice from Resident. Resident shall make all necessary repairs to interior and keep premises in a safe, clean, and sanitary condition including such things as replacing light bulbs and smoke alarm batteries. Resident shall notify management of any failure of appliances or plumbing, heating, electrical or cooling systems as soon as defects are noticed. Resident shall assist Management in making contact with all repair and service people and will allow immediate access to premises for the purpose of repair. Resident shall be responsible for paying for the repair of damage or breakdown of any property components NOT due to normal usage. Resident may not remodel or paint or structurally change, nor remove any fixture therefrom without written permission from Management.
21. Resident shall be fully responsible for the following utilities: Power___, Water___, Sewer___, Trash___, Heat, ___, Cable___, Telephone___, Other_______________________________.
22. ABANDONMENT:
If Resident removes or attempts to remove property from the premises other than in the usual course of continuing occupancy, without having first paid Management all monies due, residence may be considered abandoned, and Management shall have the right without notice, to store or dispose of any property remaining on the premises by Resident. Management shall also have the right to store or dispose of any of the Resident’s property remaining on the premises after the termination of this agreement. Any such property shall be considered Management’s property and title thereto shall vest in Management.
23. RESIDENT’S RIGHTS:
Resident’s rights under this lease shall at all times be automatically junior and subject to any deed to secure debt which is now or shall hereafter be placed on premises of which residence is part; if requested, Resident shall execute promptly any certificate that Management may request to specifically implement the subordination of this paragraph.
24. RULES AND REGULATIONS:
(a) Signs: Resident shall not display any signs, exterior lights, or markings. No awnings or other projections shall be attached to the outside of the building.
(b) Locks: Resident is prohibited from adding locks to, changing, or in any way altering locks installed on the doors. All keys (______) and Garage Openers (______) must be returned to Management of the premises upon termination of the occupancy or a replacement fee of $50 will be assessed.
(c) Entrances, walks, lawns, and driveways shall not be obstructed or used for any purpose other than ingress and egress.
(d) Radio or television aerials shall not be placed or erected on the roof or exterior.
(e) Parking: Non-operative vehicles are not permitted on premises. Any such non-operative vehicle may be removed by Management at the expense of Resident owning same, for storage or public or private sale, at Management’s option, and Resident owning same shall have no right of recourse against Management therefore.
(f) Storage: No goods or materials of any kind or description which are combustible or would increase fire risk or shall in any way increase the fire insurance rate with respect to the premises or any law or regulation, may be taken or placed in a storage area or the residence itself. Storage in all such areas shall be at the Resident’s risk and Management shall not be responsible for any loss or damage.
(g) Walls: No nails or screws, or adhesive hangers except standard picture hooks, shade brackets, and curtain rod brackets may be placed in walls, woodwork, or any part of residence.
(h) Guest: Resident shall be responsible and liable for the conduct of his/her guests. Act of guests in violation of this agreement or Management’s rules and regulations shall be deemed by Management to be a breach by Resident. No guest may stay longer than 10 days without permission of Management; otherwise a $15 per day guest charge will be due Management.
(i) Noise: All radios, television sets, phonographs, etc. must be turned down to a level of sound that does not annoy or interfere with neighbors.
(j) Resident shall maintain his/her own yard and shrubbery including sufficient watering and mowing of lawn.
(k) Resident’s Guide: Management reserves the right at any time to prescribe such additional rules and make such changes to the rules and regulations set forth and referred to above, as Management shall, in its judgment, determine to be necessary for the safety, care, and cleanliness of the premises, for the preservation of good order or for the comfort and benefits of Residents generally or to comply with neighborhood HOA rules.
(L) During the last 30 days of the Lease Agreement, Management shall have the right to advertise and show the property for the purpose of renting or selling. Resident agrees to allow exterior signs and lockbox access to the property with 24 hours notice from the Management or other designated professional assigned by management.
(M) There shall be no smoking permitted within the residence.
25. ENTIRE AGREEMENT: This agreement or any attached addenda constitute the entire agreement between the parties and no oral statements shall be binding. It is the intention of the parties herein that if any part of this residential agreement is invalid, for any reason, such invalidity shall not void the remainder of the agreement.
IN WITNESS WHEREOF, the parties have signed in person in agreement to all contract terms on the day and year noted above.
____________________________________________________________________________________________
_______________________________________________ ___________________________________________________________________________________________________________________________________________
_______________________________________________MANAGEMENT _______________________________________________ RESIDENT(S)TOTAL NUMBER OF RESIDENT(S) LIVING WITHIN THE PREMISES: _________
RESIDENTIAL LEASE / RENTAL AGREEMENT
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