Gym Rental Contract
GYM RENTAL CONTRACT
This Gym Rental Contract (the “Contract”) made and entered into this [DATE], (the “Date”), by and between [Your Name], (the "Landlord"), of [Your Company Address], and [TENANT'S NAME] (the "Tenant"), of [TENANT'S ADDRESS].
1. Premises
The Landlord, [Your Name], hereby leases to the Tenant, [TENANT'S NAME], the gym located at [Your Company Address], and any personal property located thereon (collectively, the "Premises"). The Tenant shall use the Premises solely to operate a gym facility, including but not limited to providing fitness equipment, training sessions, classes, and related services. The Premises may not be used for any illegal, immoral, or hazardous activities.
2. Term
The initial term of this lease shall commence on January 1, 2050, and shall end on December 31, 2050. Upon mutual agreement, this lease may be extended beyond the initial term. The parties shall provide written notice of their intent to extend the lease at least 30 days days before the expiration of the initial term.
3. Rent
The Tenant agrees to pay the Landlord the rent in advance on the 1st day of each calendar month. The first month’s rent is due on or before the commencement of this Contract. In case this Contract begins after the 1st day of the month, the first month’s rent will be prorated accordingly. The monthly rent amount is $1000. Any late payments shall incur a late fee of $50.
4. Security Deposit
Upon execution of this Contract, the Tenant will deposit with the Landlord the sum of $2000 as a security deposit for the Tenant’s faithful performance of its obligations under this Contract. The security deposit shall be held by the Landlord as security for any damages to the Premises or any unpaid rent or fees at the termination of this Contract.
5. Maintenance and Repairs
The Tenant agrees to keep the Premises in clean, sanitary, and good condition throughout the term of this Contract. Regular maintenance and cleaning of the gym equipment, facilities, and common areas are the responsibility of the Tenant. Should the Premises require repairs or maintenance beyond normal wear and tear, the Landlord may, after giving reasonable notice to the Tenant, enter the Premises to conduct necessary repairs or maintenance.
6. Insurance
At its own expense, the Tenant shall maintain a comprehensive liability insurance policy covering the Premises and the Tenant's operations thereon. The insurance policy shall name the Landlord as an additional insured party and provide coverage for bodily injury, property damage, and other liabilities arising from the Tenant's use of the Premises.
7. Default
In the event of the Tenant's failure to comply with any material provisions of this Contract or any present rules and regulations, the Landlord reserves the right to terminate this Contract after providing proper notice to the Tenant. Such notice shall specify the nature of the default and provide a reasonable period for the Tenant to cure the default. If the default is not cured within the specified period, the Landlord may terminate the Contract and retain the security deposit as liquidated damages.
8. Indemnification
The Tenant agrees to indemnify, hold harmless, and defend the Landlord from and against any losses, claims, liabilities, and expenses arising from any injury or damage to the person or property of any individual on the Premises due to the Tenant's activities. This indemnification shall apply to any third-party claims, including but not limited to claims for negligence, breach of contract, or violation of law.
9. Governing Law
This Contract shall be governed by and construed under the laws of the [STATE/COUNTRY]. Any disputes arising out of or related to this Contract shall be resolved through arbitration under the rules of the [ARBITRATION BODY]. The prevailing party in any legal action or arbitration proceeding shall be entitled to recover its reasonable attorneys' fees and costs.
10. Entire Agreement
This Gym Rental Contract constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior agreements, representations, and understandings, whether written or oral. Any modifications or amendments to this Contract must be in writing and signed by both parties.
IN WITNESS WHEREOF, the parties hereto have executed this Gym Rental Contract as of the day and year first above written.
Name: [Your Name]
Name: [TENANT'S NAME]
