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Real Estate Investing: Renting and Renters: Sample Lease

IMPORTANT NOTE: This lease form is an EXAMPLE ONLY. It may or may not be a legal document in your governmental jurisdiction. Do not use this lease unless you have verified it's legality, line by line.

Residential Lease

BY THIS AGREEMENT made and entered on Date between Landlord Name(s), herein referred to as Lessor, and Tenant Name(s), herein referred to as Lessee, Lessor leases to Lessee the premises situated at Legal description, and more particularly described as full street address together with all appurtenances for a term to commence on Date and end on Date.
1. Rent. Lessee agrees to pay, without demand, to Lessor as rent in the amount of $Full annual rental amount to be paid in monthly installments of $Monthly amount due on the 1st day of each calendar month beginning Date to Lessor at where rent checks are to be sent. In the event rent is not paid within 5 days of the due date, Lessee agrees to pay a late charge of $25. Lessee agrees further to pay $20 for each dishonored bank check. The late charge period is not a grace period, and Lessor is entitled to make written demand for any rent unpaid on the second day of the rental period.
2. Security Deposit. On execution of this lease, Lessee retains with Lessor Amount Dollars ($Amount), receipt of which is acknowledged by Lessor, as security for the faithful performance by Lessee of the terms hereof, to be returned to Lessee, at a rate of amount% annual interest beginning on the second full year of this lease and continuing until its end, on the full and faithful performance by lessee of the provisions hereof. Lessee has no right to deduct the security deposit from the rental payment for the last month of any term of this lease agreement.
The balance of all deposits shall be refunded with 15 days from date possession is delivered to Lessor less any damages and/or any unpaid rent. Lessor shall provide Lessee with an itemized accounting detailing any and all deductions.
3. Use of Premises. The premises shall be used and occupied by Lessee exclusively as a private single family residence, and neither the premises nor any part thereof shall be used at any time during the term of this lease by Lessee for the purpose of carrying on any business, profession, or trade of any kind, or for any purpose other than as a private single family residence. Lessee shall comply with all the sanitary laws, ordinances, rules and orders of appropriate governmental authorities affecting the cleanliness, occupancy, and preservation of the premises during the term of this lease.
4. Number of Occupants. Lessee agrees that the premises shall be occupied by no more than X persons, consisting of X adults and X children, without the written consent of the lessor.
5. Condition of Premises. Lessee stipulates that they have examined the premises, including the grounds and all buildings and improvements, and that they are, at the time of this lease, in good order, repair, and a safe, clean, and tenantable condition.
6. Assignment and Subletting. Without prior written consent of Lessor, Lessee shall not assign this lease, or sublet or grant any concession or license to use the premises or any part thereof.
7. Alterations and Improvements. Lessee shall make no alterations to the buildings on the premises or construct any building on the premises without the prior written consent of the Lessor. All alterations, changes, and improvements built, constructed, or placed on the premises by Lessee, with the exception of fixtures removable without damage to the premises, unless otherwise provided by written agreement between Lessor and Lessee, shall be the property of the Lessor and remain on the premises at the expiration or sooner termination of this lease. Locks are not be changed by Lessee. Damaged locks are to be repaired or replaced only by Lessor.
8. Damages to Premises. If the premises, or any part thereof, shall be partially damaged by fire or other casualty not due to Lessee's negligence or willful act or that of his employee, family, agent or visitor, the premises shall be promptly repaired by Lessor and there shall be an abatement of rent corresponding with the time during which, and the extent to which, the leased premises may have been untenantable; but, if the leased premises should be damaged other than by Lessee's negligence or willful act of that of his employee, family, agent, or visitor to the extent that Lessor shall decide not to rebuild or repair, the term of this lease shall end and the rent shall be prorated up to the time of the damage.
9. Dangerous Materials. Lessee shall not keep or have on the leased premises any article or thing of a dangerous, inflammable, or explosive character that might unreasonably increase the danger of fire on the leased premises or that might be considered hazardous by any responsible insurance company.
10. Utilities. Lessee shall be responsible for arranging for and paying for all utility services required on the premises, including, but not limited to, electricity, water and sewage, telephone, and trash removal.
11. Maintenance and Repair. Lessee will, at his sole expense, keep and maintain the leased premises and appurtenances in good and sanitary condition and repair during the term of this lease and any renewal thereof. In particular, Lessee shall keep the fixtures in the house or on or about the house in good order and repair; keep the lawn and shrubbery neat and trimmed; and at his sole expense, shall make all required repairs to the plumbing, range and oven, heating and air conditioning systems, refrigerator and electric fixtures whenever damage thereto shall have resulted from Lessee's misuse, waste, or neglect or that of his employee, family, agent or visitor. Major maintenance and repair of the leased premises, not due to Lessee's misuse, waste, or neglect or that of his employee, family, agent, or visitor, shall be the responsibility of Lessor or his assigns.
Lessee agrees that no signs shall be placed or painting done on or about the leased premises by Lessee or at his direction without the prior written consent of Lessor.
12. Animals. If you have a "no pets" policy, state it here. If you allow pets, state very clearly what is allowed and what is not allowed.
13. Entry and Inspection. Lessor and his agents shall have the right at all reasonable times during the term of this lease and any renewal thereof to enter the premises a) in the event of emergency, b) to make necessary or agreed repairs, decorations, alterations, improvements, supply necessary or agreed services, exhibit the premises to prospective or actual purchasers, mortgagees, tenants, workmen, or contractors, c) when lessee has abandoned or surrendered the premises. Except under a) and c), entry may not be made other than with not less than 24 hours notice.
14. Holdover by Lessee. Lessee shall give 60 days notice as to intent to vacate premises at end of lease term. Should lessee remain in possession of the premises after the natural expiration of this lease, a new month-to-month tenancy shall be created between Lessor and Lessee which shall be subject to all the terms and conditions hereof but shall be terminated on 60 days notice served by either Lessor or Lessee on the other party.
15. Surrender of Premises. At the expiration of the lease term, Lessee shall quit and surrender the premises in as good state and condition as they were at the commencement of this lease, reasonable use and wear thereof and damages by the elements excepted.
16. Default. If any default is made in the payment of rent, or any part thereof, at the times hereinbefore specified, or if any default is made in the performance of or compliance with any other terms or condition hereof, the lease, at the option of the Lessor, shall terminate and be forfeited, and the Lessor or his assigns may re-enter the premises and remove all persons therefrom. Lessee shall be given written notice of any default or breach, and termination and forfeiture of the lease shall not result, if within 5 days in regard to non-payment of rent, or 21 days in regard to performance of or compliance with terms, Lessee has corrected the default or breach .
17. Bodily Injury and Property Damage. Lessor is not an insurer of Lessee's person or property. Except to the extent provided by law, Lessor will not be liable to Lessee for any bodily injury or property damage suffered by Lessee or Lessee's employees, family, agent or visitor.
18. Personal Property. The following personal property is included subject to this lease: all window treatments including list of all personal property (refrigerators, air conditioners, ceiling fans, etc.)
19. Entire Agreement. This lease and any rules and regulations of Lessor shall constitute the entire lease agreement between Lessor and Lessee. No oral statements made by either party shall be binding.
20. Other Terms. Any additional terms


IN WITNESS WHEREOF, the parties have executed this lease on the day above written.


___________________________________Lessor ___________________________________Lessee

___________________________________Lessor ___________________________________Lessee


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