Lease Agreement Governs the rental of real property, detailing rent, responsibilities, and lease duration.
1.1. Rental Property
The Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, the residential premises located at 2414 Peaceful Lane, Independence, Ohio (the "Property").
2.1. Lease Duration
The initial term of this Agreement shall be for a period of twelve (12) months, commencing on the date of signing (the "Commencement Date") and ending on the last day of the twelfth (12th) full month following the Commencement Date (the "Lease Term").
2.2. Renewal Options
Upon the expiration of the Lease Term, the Tenant shall have the option to renew this Agreement for an additional term of twelve (12) months, provided that the Tenant provides written notice of their intention to renew at least sixty (60) days prior to the expiration of the Lease Term. The terms of the renewed Agreement shall be identical to this Agreement, except that the rent may be adjusted as provided in Section 3.
3.1. Monthly Rent
The Tenant agrees to pay the Landlord a monthly rent of $______ (the "Rent") in advance on the first day of each month during the Lease Term. The first month's Rent shall be due on the Commencement Date. Rent shall be payable without demand or set-off.
3.2. Rent Adjustment
Upon the renewal of this Agreement as provided in Section 2.2, the Rent may be adjusted by the Landlord, provided that the Landlord gives the Tenant written notice of the adjusted Rent at least sixty (60) days prior to the expiration of the Lease Term.
3.3. Late Payment Penalties
If the Tenant fails to pay the Rent when due, the Tenant shall pay a late fee of $______ per day for each day that the Rent remains unpaid, beginning with the second day of the month in which the Rent is due. The Tenant's obligation to pay late fees shall be in addition to any other remedies available to the Landlord under this Agreement or applicable law.
The Tenant shall pay to the Landlord upon executing this Agreement a security deposit in the amount of $______ (the "Security Deposit") as security for the Tenant's performance of its obligations under this Agreement.
Upon the termination of this Agreement and the Tenant's surrender of the Property in accordance with this Agreement, the Landlord shall return the Security Deposit to the Tenant, less any amounts that may be withheld by the Landlord pursuant to applicable law or pursuant to this Agreement.
5.1. Landlord's Responsibilities
The Landlord shall be responsible for all major repairs to the Property that are required due to normal wear and tear, or any structural defect not caused by the Tenant or their guests. The Landlord shall also be responsible for the repair or replacement of any appliances provided by the Landlord.
5.2. Tenant's Responsibilities
The Tenant shall be responsible for the maintenance and cleanliness of the Property, including the performance of any minor repairs necessary to keep the Property in a good, clean, safe, and habitable condition. The Tenant shall be responsible for the repair or replacement of any appliances, fixtures, or equipment damaged or destroyed by the Tenant or their guests through misuse, negligence, or accident.
5.3. Notice of Maintenance Issues
The Tenant shall promptly notify the Landlord of any maintenance or repair issues that are the responsibility of the Landlord under this Agreement.
This Agreement shall be governed by, construed, and enforced in accordance with the laws of the United States and the State of Ohio.
The Tenant shall comply with all applicable federal, state, and local laws, ordinances, rules, and regulations in all of its activities and actions related to the Property and its use.
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, with respect to such subject matter.
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In this Residential Lease Agreement, you will see the following sections:
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