Lease Essay Research Paper 1 Rent

Lease Essay, Research Paper

1. Rent. Tenant shall pay the rent to the Landlord at the address above, the monthly rent set froth above on or before the first day of each month in advance. Rent must be paid in full and no amount subtracted from it. The time of each and every payment of rent is of the essence of this lease. To cover Landlord s added costs for late payments, the monthly rent set forth above shall be increased $25.00 if paid after the fifth of the month and $50.00 if paid after the tenth of the month. Rent mailed in shall be deemed paid on the date of postmark. Two repeated late charges will be considered as grounds for immediate termination of agreement.

2. Possession. At the commencement of the term of this Lease, Landlord shall deliver possession of the Premises to Tenant. If Landlord fails to do so within ten days from the date thereof, this Lease shall terminate unless reaffirmed in writing within an additional five days by Tenant. Upon such termination Landlord shall refund all prepaid rent and security, which shall be Tenant s sole remedy.

3. Use. The Premises shall be occupied solely for residential purposes by Tenant, and for no other reason. Only a party signing this Lease, spouse and children of that party may use the Premises. Tenant shall keep the Leased Premises in a clean and orderly condition and shall conduct its business therefrom in a careful and safe manner.

4. Notices. Any notice, bill, or statement must be delivered or mailed to the Tenant at the Premises and the Landlord at the Address for Notices. If mailed, it will be considered mailed on the postmark date, or if not mailed, the day it is left at the address. If sent by mail, it must be sent by certified mail. If the landlord changes his or her Address for Notices, they must send Tenant a written notice of the address change.

5. Security. Tenant has given Security to Landlord in the amount stated above. Upon an event of default, the security deposit will be deemed forfeited. Within forty-five (45) days after the termination of this Lease, Landlord shall repay to Tenant all or such part of the sum paid as security as Tenant shall be entitled to. If landlord sells the Premises, Landlord may give the Security to the buyer. Tenant will look only to the buyer for the return of the Security.

6. Utilities and Services. Tenant must pay for all of the following utilities and services when billed: gas, water, electric, telephone, fuel, gardening, exterminating, all other utilities and services if any.

7. Default. If Tenant fails to pay rent or breaches this lease, Landlord may, after proper notice, file a lawsuit to regain possession of the apartment but this shall not relieve Tenant from payment of rent for the remainder of the lease term. Any of the following shall be deemed an Event of Default:

A. The failure to pay any installment or rent when the same becomes due and the failure continues for five (5) days.

B. Tenant s failure to perform or observe any other covenant, term or condition of this Lease to be performed or observed by Tenant and if curable, the failure continues for fifteen (15) days after notice thereof is given to Tenant.

C. Abandonment of the Leased Premises.

D. The filing or execution or occurrence of:

1. An involuntary petition in bankruptcy against Tenant and the failure of Tenant, in good faith, to promptly commence and diligently pursue action to dismiss the petition.

2. A general assignment for the benefit of creditors by Tenant.

3. The taking by any party of the leasehold created hereby, or any parts thereof, upon foreclosure, levy, execution, attachment, or other process of law or equity.

8. Access by Landlord to Leased Premises. Landlord, Landlord s agents, and Landlord s prospective Tenants, purchasers, mortgagees shall be permitted to inspect and examine the Leased Premises at all reasonable times and Landlord shall have the right to make any repairs to the Leased Premises which Landlord may deem necessary. Locks may not be changed and additional locks may not be added without the consent of Landlord. Doors must be locked at all times. For a period commencing six (6) months prior to the expiration of the term of this Lease, Landlord may maintain For Rent signs on the front or on any part of the Leased Premises.

9. Assignment, Subletting. Tenant may not sublet or assign this Lease Agreement to another.

10. Fire, damage. If the Premises is damaged or destroyed by fire or casualty, and the Unit is only partially damaged and is inhabitable and the Landlord makes full repairs within sixty (60) days, this Lease shall continue without abatement nor apportionment of rent. If the Premises is damaged or destroyed by fire or casualty, and (1) the Premises is rendered uninhabitable (2) continued occupancy would be illegal, or (3) Landlord cannot repair within sixty (60) days, Tenant or Landlord may immediately terminate the lease.

11. Space as is . Tenant has inspected the Premises. Tenant states that they are in good order and repair and takes the premises as is.

12. Lease Binding on Heirs. All the covenants and agreements of this Lease shall be binding upon and inure to the benefit of the heirs, executors, administrators, successors, and assigns of Landlord and Tenant.

13. Rent Increase. Landlord shall give a minimum of sixty (60) days written notice if any increase in the rent payable by the Tenant. Such notice shall include the amount of rental increase and its effective date. Within twenty (20) days of mailing of notice of the rent increase, Tenant shall respond in writing that is either a) agrees to accept the amount of the rental increase and its effective date as an amendment to its existing lease; b) requests a new lease in writing stating all of the terms of the lease including the new amount of the rent or c) will terminate and vacate the premises under the terms of the current lease.

14. Abandonment. Ten day s physical absence by Tenant with rent being unpaid, or removal of the substantial portion of Tenant s personal property with rent being paid, and, in either case, reason to believe Tenant has vacated the Unit with no intent to again reside therein shall be conclusively deemed to be an abandonment of the Premises by Tenant. Tenant s title thereto shall thereby pass under this Lease as a bill of sale to Landlord without additional payment of credit to Landlord to Tenant.

15. Liability. Landlord is not liable for loss, expense, or damage to any person or property unless it is due to Landlord s negligence. Tenant is responsible for all acts of Tenant s family, guests, and other visitors to the Premises. Tenant must pay for damages suffered and money spent by Landlord relating to any claim arising from any act or neglect of Tenant

16. Effective Date. This lease is effective when Landlord delivers to Tenant a copy signed by all parties.

RULES AND REGULATIONS

1. The Tenant shall not alter any lock or install a new lock or a knocker or other attachment on any door of the Premises without written consent of the Landlord.

2. The water closets, basins, and other plumbing fixtures shall not be used for any purpose other than for those for which they were designed; no sweepings, rubbish, rags or any other improper articles shall be thrown into them. The Tenant shall pay for any damage resulting from misuse of such facilities.

3. If Landlord has provided smoke detectors in Tenant s Premises, it is the responsibility of the Tenant to replace batteries if battery operated and keep the smoke detectors in good working order at all times.

4. Tenant shall take good care of the Premises and everything contained in the Premises, including, but not limited to walls, ceilings, floors, floor covering, glass, plumbing or electrical systems, ranges, refrigerators, air conditioners, heaters, sinks, dish washers, and pipes.

5. Tenant shall notify Landlord immediately upon occurrence of any fire or other casualty.

6. Tenant shall not install any security devices in the Premises without the Landlord s prior written approval.

Signatures The parties have entered into this Lease on the date first above stated.

LANDLORD: TENANT:

X X

WITNESS

X .

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