Free Rental Contract Agreement Template
Rental Contract Agreement
I. Introduction
This Rental Contract Agreement (“Agreement”) is entered into on this 15th day of February, 2050, by and between:
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[Your Company Name], a corporation registered under the laws of the State of Arizona, with its principal office located at [Your Company Address], represented by [Your Name], Managing Director ("Party A").
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Eyefusion, a corporation registered under the laws of the State of Arizona, with its principal office located at Phoenix, AZ 85001, represented by Jewell Ward, CEO ("Party B").
The parties hereby agree as follows:
II. Property Description and Rental Terms
1. Property Description
Party A agrees to lease to Party B the following property:
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Property Type: Commercial office space
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Location: 1234 Business Avenue, Phoenix, AZ 85001
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Size and Dimensions: 3,000 square feet of office space, including conference rooms, private offices, and common areas.
2. Rental Period
The rental period for the property will commence on 15th February, 2050 and shall continue for a term of 12 months, expiring on 15th February, 2051. Upon expiration, the lease may be renewed with mutual consent of both parties, subject to the terms of this Agreement.
3. Rental Payments
Party B agrees to pay Party A rent in the amount of $10,000 per month for the leased property. Payments shall be made by Party B to Party A on the 1st of each month, beginning on 15th February, 2050, with the first payment of $10,000 due immediately upon execution of this Agreement.
The monthly rent includes:
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Water, electricity, and internet access
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Routine maintenance of the property
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Janitorial services for common areas
Payments should be made by Party B to Party A via wire transfer or other mutually agreed-upon method. The payment details will be provided separately.
4. Late Payments
If Party B fails to make payment on or before the due date, Party B will incur a late fee of 5% of the outstanding balance for each month the payment is delayed.
III. Responsibilities of the Parties
1. Responsibilities of Party A
Party A agrees to:
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Provide Party B with peaceful possession of the leased property for the duration of the rental period.
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Ensure that the property is in a habitable and operational condition upon delivery.
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Maintain the property and address any structural issues, including plumbing, electrical, and HVAC systems, throughout the lease term.
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Provide Party B with notice of any upcoming property inspections or maintenance activities.
2. Responsibilities of Party B
Party B agrees to:
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Use the leased property only for the purpose of office operations related to business activities, including but not limited to administration, marketing, and customer services.
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Maintain the property in a clean, safe, and habitable condition.
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Refrain from making alterations or improvements to the property without the prior written consent of Party A.
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Be responsible for the routine maintenance and upkeep of the property, including but not limited to cleaning, trash removal, and minor repairs.
IV. Security Deposit
1. Amount and Purpose
Party B agrees to provide Party A with a security deposit of $5,000 at the time of signing this Agreement. The deposit is intended to cover any damages to the property, unpaid rent, or other liabilities incurred by Party B during the rental period.
2. Return of Deposit
Upon the expiration or termination of this Agreement, Party A shall inspect the property and return the security deposit to Party B within 30 days, minus any deductions for damages or unpaid obligations. If no deductions are necessary, the full deposit will be refunded.
V. Maintenance and Repairs
1. Maintenance Obligations of Party A
Party A is responsible for:
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The maintenance and repair of the structural components of the property, including the roof, foundation, and exterior walls.
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Ensuring that plumbing, electrical, and heating systems are in good working order at the beginning of the lease term.
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Performing any necessary repairs due to wear and tear or unforeseen circumstances.
2. Maintenance Obligations of Party B
Party B is responsible for:
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Maintaining the interior of the property, including floors, walls, fixtures, and appliances.
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Promptly reporting any damage, malfunction, or need for repair to Party A.
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Paying for any damages caused by Party B’s negligence or misuse of the property.
VI. Use of Property
1. Permitted Use
Party B agrees to use the property only for the purpose described in this Agreement and not for any illegal, unlawful, or unauthorized activities. The property may not be subleased, assigned, or used for any purpose other than the one agreed upon without prior written consent from Party A.
2. Alterations
Party B may not make any alterations, additions, or improvements to the property without Party A’s prior written approval. If such alterations are approved, Party B agrees to restore the property to its original condition upon termination of this Agreement unless otherwise agreed by the parties.
VII. Termination and Renewal
1. Termination by Party A
Party A may terminate this Agreement with 30 days’ written notice to Party B in the event of:
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Failure by Party B to make timely rental payments.
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Party B’s violation of any terms of this Agreement.
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Any illegal use of the property by Party B.
2. Termination by Party B
Party B may terminate this Agreement with 30 days’ written notice to Party A if Party A fails to fulfill its responsibilities as outlined in this Agreement, including not maintaining the property or failing to make necessary repairs.
3. Renewal
At the end of the rental term, Party B has the option to renew this Agreement for an additional term, subject to mutual agreement and negotiation of the new rental rate.
VIII. Insurance
Party B agrees to obtain renters insurance covering personal property and liability for the duration of the lease. Party A shall not be liable for any damage, theft, or loss of personal property owned by Party B.
IX. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Arizona, without regard to its conflict of laws principles. Any disputes arising out of this Agreement will be resolved in the courts located in Arizona.
X. Miscellaneous Provisions
1. Entire Agreement
This Agreement constitutes the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior agreements, whether written or oral.
2. Force Majeure
Neither party shall be held responsible for any delay or failure to perform due to causes beyond their control, including but not limited to natural disasters, strikes, or government actions.
XI. Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the 15th day of February, 2050.
[Your Company Name]
[Your Name], Managing Director
Date: 15th February, 2050
Eyefusion
Jewell Ward, CEO
Date: 15th February, 2050
For any inquiries, please contact [Your Name] at [Your Email] or reach out to [Your Company Name] at [Your Company Email].
