Property Rental Lease Agreement


A property rental lease agreement is a legal document that is drafted when the owner of a property gives the property owned by him on lease to an individual who pays a monthly rent to the owner. These types of agreements contain the details of the parties involved, details of the property that is leased and the other terms and conditions agreed between the parties.

Sample Property Rental Lease Agreement

This property rental lease agreement, effective from the date of 6th of August 2012 has been made and entered into between John Woo referred to as the lessor and Bruce Wayne referred to as the lessee.

As per the agreement, the lessor agrees to lease out his property located at 87 Yankee Doodle Street, New York, New Jersey 6578 to the lessee in exchange of which the lessee has to pay a monthly rent to the lessor.

The terms and conditions required to be followed by both the parties are as follows:

  1. The lessee has to make a deposit of $10000 to the lessor. The deposit has to be made on the effective day of the agreement. The deposit amount is refundable.
  2. The lessee has to pay a rent of $2000 every month to the lessee. In failure to pay the rental amount on time, the lessee has to pay an additional fine of $200.
  3. The lessee cannot exit the property till the lease period is over.
  4. The lessor has to clear any outstanding property tax before the lessee moves in. Any outstanding insurance premium amount also has to be paid.
  5. The lessee cannot misuse the property of the lessor. If the lessee is found doing so, the lessor can take legal action against the lessee.

Signature of the lessor: ____________________

Signature of the lessee: ________________________

 

 

Category: Lease Agreements

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