Lease Agreement - (When Investor Is Buying) LEASE AGREEMENT
Date:__________, 20___
RECEIPT IS HEREBY ACKNOWLEDGED by_____________________________________ hereinafter called Lessor , from____________________________________ hereinafter called LESSEE, the sum of $______________ as first months rent, plus the sum of $ ______________ as security deposit, in hand paid by the LESSEE, receipt of which is hereby acknowledged.
LESSOR hereby leases to the LESSEE his heirs or assignees, the premises owned by said LESSOR and located at_____________________________________ hereinafter called Premises.
The term of this lease shall commence on _________________, 20________, and continue until __________________, 20_____________.
Rent shall be $______________ per month, payable in advance on the first day of each and every succeeding calendar month. LESSEE agrees to pay a $25 late charge to LESSOR any time rents is five (7) or more days late.
LESSEE may extend the term of this lease for a period of three (3) month upon paying the LESSOR the sum of $_________________.
In considered hereof and of the use or occupancy of the said Premises, LESSEE agrees:
1. To maintain said Premises in a clean, orderly, and law abiding manner and to keep the yards
thereof free of weeds, debris, and/or material that may become unsightly or a detriment to the
appearance of said Premises. LESSOR shall have the right to enter and inspect said Premises
at any and all reasonable times after giving such notice as required by landlord/tenant laws of this state.
2. To pay for all utility service furnished to the property.
3. To pay the cost of all repairs for any damage done to said Premises and the cost of any cleaning which exceeds ordinary wear and tear.
6. LESSOR agrees that LESSEE may sublease the Premises without prior written permission from LESSOR.
7. The security deposit shall secure the performance of the LESSEE’s obligations hereunder. LESSOR shall apply said deposit on account of LESSEE’s obligations hereunder. Any balance remaining upon termination shall be returned to LESSEE.
8. To clean up said premises upon vacating and restore said Premises to the same condition they
are now in, reasonable wear and tear and damage by the elements excepted.
9. That the violation of any of the covenants of this agreement or the nonpayment of any rent
due and unpaid shall be sufficient cause for eviction from said premises upon five (5) days
written notice thereof by registered mail or by personal service. If suit be brought to collect
rent or damages, to cause eviction from said Premises, or to collect the costs of repairs to or
cleaning of said Premises, LESSEE agrees to pay all costs of such action, including reasonable
attorney fees as may be fixed by the Court.
10. All rent shall be sent to the LESSOR at ___________________________________________ or any other place designated by LESSOR. Each party hereto acknowledges receipt of a copy of this agreement.
11. To pay for any repair of premises or appliances up to $100 per month up to a maximum of $500 per year. LESSOR agrees to pay all costs exceeding $500 per year.
___________________________________ ____________________________________
LESSOR LESSOR
___________________________________ _____________________________________
LESSEE DATE This document and accompanying materials are designed to provide authoritative information in regard to the subject matter covered in it. It is for illustration purposes only and presented with the understanding that the author and publisher are not engaged in rendering legal, accounting or other professional opinions. If legal advice or other expert assistance is required, the services of a competent professional should be sought. |
