Legal Lease Agreement
Legal Lease Agreement
This Legal Lease Agreement (the "Agreement") is entered into as of September 1, 2050, by and between [Your Company Name], a corporation organized and existing under the laws of California, with its principal office located at [Your Company Address] ("Landlord"), and [Tenant Name], an individual residing at [Tenant Address] ("Tenant").
1. Property Description
1.1 Premises
The Landlord agrees to lease to the Tenant, and the Tenant agrees to lease from the Landlord, the premises located at [Property Address]. The premises consist of 1,200 square feet and include a two-bedroom apartment with one bathroom, a living room, a kitchen, and a balcony.
1.2 Legal Description
The property is legally described as follows:
-
Parcel Number: 789-456-123
-
Subdivision: Maplewood Estates
-
Lot Number: 45
2. Lease Term
2.1 Duration
The term of this Lease Agreement shall commence on October 1, 2050 (the "Commencement Date") and shall continue for a period of 5 years, ending on September 30, 2055, unless terminated earlier in accordance with the provisions of this Agreement.
2.2 Renewal Option
The Tenant shall have the option to renew this Lease Agreement for an additional term of 3 years upon written notice to the Landlord at least 6 months prior to the expiration of the initial term. The renewal term shall be on the same terms and conditions as the initial term unless otherwise agreed in writing by both parties.
3. Rent and Payment
3.1 Rent Amount
The Tenant agrees to pay the Landlord rent in the amount of $2,500 per month. Rent payments are due on the 1st day of each month.
3.2 Payment Method
Rent shall be paid by electronic transfer to the following account:
-
Account Name: [Your Company Name]
-
Bank: Pacific National Bank
-
Account Number: 987654321
-
Routing Number: 123456789
3.3 Late Fees
If the Tenant fails to pay rent within 5 days of the due date, a late fee of $150 shall be assessed. The Tenant agrees that this fee shall be added to the rent due for the next month.
4. Security Deposit
4.1 Amount
The Tenant shall deposit with the Landlord the sum of $5,000 as a security deposit. The security deposit shall be held by the Landlord as security for the performance of the Tenant's obligations under this Agreement.
4.2 Use and Return
The Landlord may use the security deposit to cover any unpaid rent, damages to the property, or other costs incurred as a result of the Tenant's breach of this Agreement. The Landlord shall return the remaining balance of the security deposit to the Tenant within 30 days after the termination of this Agreement, provided the Tenant has fulfilled all obligations and returned the property in good condition.
5. Maintenance and Repairs
5.1 Landlord's Responsibilities
The Landlord shall be responsible for maintaining the structural integrity of the premises, including the roof, walls, and foundation, as well as ensuring that all major systems, such as plumbing, electrical, and heating, are in working order.
5.2 Tenant's Responsibilities
The Tenant agrees to keep the premises in a clean and sanitary condition and to promptly notify the Landlord of any maintenance or repair issues. The Tenant shall be responsible for minor repairs and maintenance, including but not limited to replacing light bulbs and cleaning filters.
6. Use of Premises
6.1 Permitted Use
The premises shall be used solely for residential purposes. The Tenant agrees not to use the premises for any unlawful or prohibited purposes.
6.2 Restrictions
The Tenant shall not make any alterations or improvements to the premises without the prior written consent of the Landlord. The Tenant agrees to comply with all applicable laws, ordinances, and regulations.
7. Utilities and Services
7.1 Utilities
The Tenant shall be responsible for paying all utilities and services associated with the premises, including but not limited to electricity, water, gas, and telephone services.
7.2 Landlord's Utilities
The Landlord shall be responsible for paying the following utilities:
-
Water
-
Sewer
-
Trash Collection
-
Building Insurance
8. Insurance
8.1 Tenant's Insurance
The Tenant shall maintain renters' insurance with coverage limits of at least $50,000 for personal property and liability. The Tenant shall provide proof of insurance to the Landlord upon request.
8.2 Landlord's Insurance
The Landlord shall maintain insurance covering the building and property against fire, theft, and other risks as required by law.
9. Termination
9.1 Termination by Tenant
The Tenant may terminate this Agreement by providing written notice to the Landlord at least 60 days prior to the intended termination date. The Tenant shall be responsible for any rent due until the termination date.
9.2 Termination by Landlord
The Landlord may terminate this Agreement for any material breach by the Tenant by providing written notice of termination. The Landlord shall be entitled to any damages resulting from the breach.
10. Miscellaneous
10.1 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of California.
10.2 Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements.
10.3 Amendments
Any amendments to this Agreement must be made in writing and signed by both parties.
10.4 Notices
Any notices required under this Agreement shall be in writing and delivered to the addresses specified above or as otherwise directed by the parties.
10.5 Severability
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Lease Agreement as of the date first above written.
[Landlord Representative Name]
[Title]
[Your Company Name]
[Tenant Name]
[Tenant Address]
