Private Rental Agreement
Private Rental Agreement
This Private Rental Agreement ("Agreement") is entered into on [Date], between [Your Name], herein referred to as the "Landlord," and [Tenant's Name], herein referred to as the "Tenant," collectively referred to as the "Parties," for the rental of the property located at [Your Company Address].
1. Parties Involved
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Landlord:
[Your Name]
[Your Company Address]
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Photographer:
[Tenant's Name]
[Tenant's Address]
2. Term
The duration or term of this Agreement will officially begin or commence on the specified date, which is indicated as [Date]. Following the commencement date, the Agreement is set to remain valid and continue its effect until another specified date, indicated as [Date]. However, there's an exception to this predetermined timeframe - the Agreement may face termination before the end date if such termination adheres to and is conducted by the conditions and terms outlined within this Agreement itself.
3. Rent
The individual, who is actively partaking in the role of a tenant within the context of this agreement, has established an agreement and reached a mutual consensus to consistently provide payment of a total sum of two hundred dollars every single month. The specific predetermined time that has been set for the submission of this aforementioned sum of money is on the very first day of each subsequent and continuous month. This arrangement will remain in effect for the entire duration of the period within which this agreement remains legally valid and in force.
4. Security Deposit
When the Tenant signs this Agreement, they are bound to provide a security deposit to the Landlord. The said security deposit will amount to $1500. The Landlord will hold this deposit as a form of security. The purpose of this security deposit is to cover any potential damages that may occur during the tenancy period, that exceed what would be considered normal wear and tear.
5. Use of Premises
The individual who is referred to as the Tenant in this agreement is required to utilize the property that is being rented to them for the exclusive purpose of residential use. They are not permitted to use the premises for conducting any activities that are deemed illegal under the law. In addition, they are strictly prohibited from subleasing, that is, renting out a part or the whole of the property to another person or entity, without first obtaining explicit permission from the Landlord. This permission should be given in a written form such as a letter or an official document to avoid any ambiguity or misunderstanding in the future.
6. Maintenance and Repair
The individual or entity acting as the Landlord shall undertake the responsibility of ensuring that the structural integrity of the property is maintained, this means they are to oversee and manage any necessary repairs or actions needed to keep the property structurally sound. On the other hand, the individual or entity designated as the Tenant is expected to be responsible for maintaining a clean environment within the property at all times. Moreover, the Tenant is also obligated to report immediately any instances of damage to the property or any repairs that become apparent as necessary. Their responsibility extends to making sure these issues are promptly brought to the attention of the Landlord.
7. Insurance
The individual who is renting the property, hereby referred to as the Tenant, is entering into an agreement in which they are committed to acquiring a renter's insurance policy. This policy will ensure coverage for any personal property they possess and any potential liability they might incur in terms of damages made to the landlord's property. In return, the owner of the property, hereby referred to as the Landlord, is agreeing to uphold their obligation of ensuring that there is sufficient insurance coverage in place for the physical property. The Landlord understands this is necessary to protect against any potential risks or unforeseen circumstances that may occur and lead to property damage or loss.
8. Governing Law
This Agreement shall be governed by and construed by the laws of the state of [State], and any disputes arising out of or relating to this Agreement shall be resolved through arbitration in [State].
9. Entire Agreement
This Agreement constitutes the entire understanding between the Parties and supersedes all prior agreements and understandings, whether oral or written, relating to the subject matter herein.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written.
[Your Name]
[Date Signed]
[Tenant's Name]
[Date Signed]
