Agreement of Property Lease and Rent
The agreement that follows is framed as a legally enforceable contract that arises from the consideration that is being transferred by both parties.
In accordance with common faith vested by landlord’s name andtenant’s name, in each other and common contract law and the law of the land, this document shall, henceforth, be referred to as the ‘agreement’ which shall be legally enforceable within the court of law.
The apartment located at apartment’s address registered by local governing body’s name as code/registration number, etc. shall become the object of a lease contract of 12 months commencing from __________ and terminating on __________ .
Tenant’s name, shall be liable to pay all electricity and housing bills from ________ to _________ . Landlord’s name shall be liable to pay the property tax and all expenses incurred as a result of ownership, but, shall not be liable to bear expenses due to infliction of damage that has been caused by tenant’s name, or during the time period from ________ to ________ .
Landlord’s name, by the rights bestowed on him by the Constitution and common contract law, can ask tenant’s name to evacuate the said apartment with a notice period of not less than 30 days, if and only iftenant’s name defaults in payment of rent for 2 months or more, or causes damage to the property that exceeds the deposit.
Landlord’s name, by the rights bestowed on him by the Constitution and common contract law, can ask tenant’s name for a deposit that is not more than $10,000 as a precautionary fund for damage done to the property. Landlord’s name, cannot deduct any value from the sum unless and until tenant’s name causes repairable damage to the property. Aging repairs of the property cannot be deducted from the deposit. The local assessor of property, within whose jurisdiction the property is located shall stand judge in a situation of disagreement. Either party can lawfully file a suit in the court of law for appellate decisions.
Landlord’s Signature: _______
Tenant’s Signature: ________