Rental Agreement
Rental Agreement
Date: October 4, 2050
I. Parties Involved
This Rental Agreement is made and entered into on the date specified above by and between [Your Company Name] (hereinafter referred to as "Landlord") with the business address at [Your Company Address] and Lyda Fadel (hereinafter referred to as "Tenant"), with contact information as detailed below:
|
Tenant's Name |
|
Contact Number |
|---|---|---|
|
Lyda Fadel |
lyda@you.mail |
222 555 7777 |
The Landlord and Tenant are collectively referred to as the "Parties."
II. Property Details
This agreement pertains to the rental of the following property:
|
Property Address |
Property Type |
Size |
|---|---|---|
|
456 Elm Street, Suite 5 |
Commercial Office Space |
1,200 sq. ft. |
Premises Usage: The property is to be used solely for commercial business purposes related to office operations and must comply with all local, state, and federal regulations. Any other use requires prior written approval from the Landlord.
III. Term of Lease
Lease Duration
The lease begins on October 5, 2050, and ends on October 4, 2051.
Renewal Option
Upon mutual agreement, the lease may be renewed for an additional term. The Tenant must notify the Landlord 30 days before the lease end date for renewal consideration.
IV. Rental Payment
Payment Amount
The Tenant agrees to pay a monthly rental amount of $2,500 due on the first day of each month.
Payment Method
Payments shall be made via electronic bank transfer to the Landlord’s account as follows:
|
Bank Name |
Account Number |
Routing Number |
|---|---|---|
|
First City Bank |
987654321 |
123456789 |
Late Fees
A late fee of $50 will apply if rent is not paid within 5 days of the due date.
V. Security Deposit
Deposit Amount
The Tenant shall pay a security deposit of $2,500 to cover any damages or defaults.
Deposit Return Conditions
The security deposit will be returned within 30 days after lease termination, pending inspection of the premises to confirm no damages or outstanding balances.
VI. Maintenance and Repairs
Tenant Responsibilities
The Tenant agrees to maintain the property in good condition and promptly report any necessary repairs to the Landlord.
Landlord Responsibilities
The Landlord shall handle all structural repairs, including heating, ventilation, plumbing, and electrical systems unless damages are caused by the Tenant’s actions.
VII. Utilities and Services
The Tenant shall be responsible for arranging and paying for utilities, including but not limited to:
|
Service |
Responsibility |
|---|---|
|
Electricity |
Tenant |
|
Water |
Tenant |
|
Internet & Phone |
Tenant |
|
Property Maintenance |
Landlord |
VIII. Insurance
The Tenant is required to obtain and maintain a general liability insurance policy with a minimum coverage of $500,000. Proof of insurance must be provided to the Landlord before moving in.
IX. Termination and Default
Early Termination
If the Tenant wishes to terminate the lease before its expiration, they must provide 60 days written notice and pay an early termination fee equivalent to one month’s rent.
Grounds for Default
Grounds for default include failure to pay rent, subleasing without permission, or use of the property for unlawful purposes. Upon default, the Landlord reserves the right to terminate the lease and seek damages.
X. Governing Law
This Agreement shall be governed by the laws of the State of California, without regard to its conflict of law principles.
Signatures
By signing below, both parties agree to adhere to the terms of this Rental Agreement:
Landlord: [Your Company Name]
Authorized Representative: [Your Name]
Email: [Your Email]
Date: October 4, 2050
Tenant: Lyda Fadel
Email: lyda@you.mail
Date: October 4, 2050
