Rental Extension Letter
Rental Extension Letter
Date: [23-05-2023]
Parties Involved:
Landlord: [Christopher]
Tenant: Christopher
Property Details:
Property Address: Elmwood Avenue (1000SQRDS)
Rental Duration:
From: MARCH -15 -2022
To: MARCH -16-2028
Terms and Conditions:
Rent and Payment Terms:
The monthly rent for the aforementioned property shall be set at [Amount in Legal Currency]. The tenant will make the rental payment on or before the [O1-01-2023] of each month.
The tenant shall pay the rent through [Accepted Payment Methods] and is responsible for any transaction fees incurred.
Late payment or non-payment of rent will lead to penalties or legal action as per the laws of the jurisdiction.
Security Deposit:
Upon signing this agreement, the tenant shall provide a security deposit in the amount of [5 Cores], which will be held by the landlord as security against damages or unpaid rent.
The security deposit will be returned to the tenant within [Number of Days] after the termination of this agreement, minus any deductions for damages or outstanding rent.
Use of Property:
The tenant agrees to use the property solely for residential purposes and shall not sublet or assign the property without the written consent of the landlord.
The tenant is responsible for maintaining the property clean and in good condition throughout the tenancy period.
The tenant shall not engage in any illegal activities or conduct that may disturb the peace and tranquility of the neighbors.
Maintenance and Repairs:
The landlord will be responsible for maintaining the property's structural integrity, plumbing, and electrical systems.
The tenant shall promptly inform the landlord of any necessary repairs or maintenance required in the property.
Any damages caused by the tenant's negligence or misuse shall be the tenant's responsibility to repair or reimburse the landlord for the expenses incurred.
Termination:
This agreement can be terminated by either party giving a written notice of [Number of Days] days prior to the desired termination date.
If the tenant wishes to terminate the agreement prior to the agreed duration, they shall be liable to pay an early termination fee equivalent to [Amount] of the remaining rent.
The landlord has the right to terminate this agreement in case of non-payment of rent, breach of terms, or illegal activities on the premises.
Disputes:
Any disputes arising from this agreement shall be resolved through mediation or arbitration in accordance with the laws of [Jurisdiction].
This rental agreement letter represents the entire agreement between the landlord and the tenant and supersedes any previous agreements or understandings. Any modifications to this agreement must be made in writing and signed by both parties.
Landlord's Signature: ____________________
Tenant's Signature: ____________________
