Real Estate Residential Lease Agreement

This Residential Lease Agreement ("Agreement") is entered into on [Month Day, Year] by and between [Your Company Name], with its principal place of business at [Your Company Address], hereinafter referred to as the "Lessor", and [Your Partner Company Name], with its principal place of business located at [Your Partner Company Address], hereinafter referred to as the "Lessee". This agreement outlines the mutual responsibilities and terms by which the Lessor agrees to lease residential property to the Lessee.

I. Property Description

Lessor leases to Lessee the residential property located at:

Address:	[Your Partner Company Address]
Unit Type:	3-bedroom, 2-bathroom apartment
Square Footage:	1,200 sq. ft.

The property is a modern apartment located in a secured building with access to shared amenities, including:

1. A rooftop terrace for social gatherings or relaxation

2. A fitness center available to residents 24/7

3. In-unit laundry facilities for convenience

4. One reserved parking space in a secured garage

The property is well-maintained and suited for corporate housing or long-term residence, offering comfort and accessibility.

II. Term of Lease

1. Commencement Date: The lease begins om [Month Day, Year].

2. End Date: The lease concludes on [Month Day, Year] providing a total lease period of twelve (12) months.

3. Option to Renew: Lessee has the option to renew the lease. Written notice of the intent to renew must be provided by the Lessee no later than thirty (30) days before the end of the current lease term. Renewal terms, including rent adjustments, will be mutually agreed upon in writing.

III. Rent and Payment Terms

1. Monthly Rent: The Lessee agrees to pay the Lessor a rent of three thousand dollars ($3,000) per month.

2. Due Date: Rent is due on or before the fifth (5th) day of each month.

3. Payment Method: Payments can be made via direct bank transfer to Lessor’s designated account or by check to the Lessor’s office.

4. Late Payment Fee: A late payment fee of one hundred fifty dollars ($150) will be applied if rent is not received by the fifth (5th) day of the month. If rent remains unpaid for more than ten (10) days, an additional fee of two hundred dollars ($200) will be incurred.

IV. Security Deposit

1. Amount: The Lessee agrees to provide a security deposit of three thousand dollars ($3,000), equivalent to one month’s rent, before occupancy.

2. Purpose: This deposit is held for any damage beyond normal wear and tear, cleaning costs upon lease termination, or unpaid rent.

3. Return of Deposit: The security deposit will be refunded within thirty (30) days of the lease termination, minus any applicable deductions.

V. Utilities

Lessee will be responsible for all utilities, including electricity, gas, water, and internet, except for the following, which are included in the rent:

1. Electricity: To power lights, appliances, and other electronic devices within the unit.

2. Gas: For heating, cooking, and other household needs.

3. Water: For all residential water usage, including bathing, cooking, and sanitation.

4. Internet: For personal internet access within the leased unit.

VI. Maintenance and Repairs

Both parties must ensure the property is kept in good condition during the lease term.

1. Lessor Responsibilities: The Lessor will maintain the structural integrity of the building, plumbing, and heating systems.

2. Lessee Responsibilities: Lessee is responsible for the general cleanliness of the unit and will handle minor repairs, such as changing light bulbs. For larger repairs, the Lessee should notify the Lessor, who will handle the issue within seven (7) business days.

VII. Termination of Lease

The lease can be terminated under the following conditions:

1. Lessee Default: If Lessee fails to pay rent or violates other terms of the agreement, the Lessor has the right to terminate the lease with a thirty (30) day notice.

2. Early Termination by Lessee: The Lessee may terminate the lease early with a sixty (60) day written notice. However, the Lessee will be responsible for paying rent until a new tenant is found or the lease term ends, whichever occurs first.

VIII. Inspection and Acceptance

Lessor agrees to allow Lessee to inspect the property before the lease begins. Lessee agrees to accept the property in its present condition after inspection unless defects are noted in writing prior to move-in. This ensures both parties have a mutual understanding of the property’s condition at the start of the lease.

IX. Use of Property

The property shall be used solely for residential purposes. No commercial activities or illegal activities are permitted on the premises. The Lessee agrees to comply with all local, state, and federal laws during the term of this lease.

X. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the [State of New York]. Any legal disputes arising from this agreement shall be resolved in the courts of [New York County].

XI. Miscellaneous

1. Pets: Pets are allowed only with the Lessor’s written consent. Any damages caused by pets will be deducted from the security deposit.

2. Alterations: Lessee shall not make any structural changes or significant alterations to the property without prior written approval from the Lessor.

3. Subletting: The Lessee may not sublet the property or assign this lease to another party without prior written consent from the Lessor.

IN WITNESS WHEREOF, the parties have executed this Residential Lease Agreement as of the day and year first above written.

Lessor Signature:

[Your Name]

[Job Title]

[Your Company Name]

[Month Day, Year]

Lessee Signature:

[Name]

[Job Title]

[Your Partner Company Name]

[Month Day, Year]

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