Rental Agreement for Property or Non-Movable Objects
This agreement is a rental agreement and is not to be confused with a lease agreement. As a rental agreement, the parties involved that the use and payment will be on a monthly basis and may be terminated with a notice of 30 days.
Company ___XYZ______, hereafter referred to as the Company, agrees to rent certain real property (or non-movable objects), located at ________________ (address, city, state, sip code) on a monthly basis. The agreement is contingent upon the acceptance of the terms of this agreement. The term of the rental agreement shall be ____________ months (or state the agreement “will expire at 12:01 a.m. on (Month, day and year.)
The rental fee will be $_______________ (spell out amount) per month, payable on or before the first day of each month by cash, company check or cashier’s check. Personal checks are not acceptable. Failure to pay on time will result in a penalty of 1.5 percent interest per day compounded for each day the rent is late, unless other arrangements are made with the Company because of extenuating circumstances that would have to be accepted by the company.
The renter will be required to submit an application to the Company requesting to rent the real property (or non-movable objects) for the specified time that will begin on the date the contract is signed by all parties and expire at 12:01 a.m. on (date, month and year.) The following stipulations will apply.
- The Company and the Renter agree that the property (real or non-movable property) will be rented on a monthly basis, with the rent to be paid no later than the first day of each month. The renter may withdraw from the agreement at any time. The Company will have to honour the rental period to the date already specified, or if the renter fails to pay the required monthly payments.
- The Renter agrees to pay a security and cleaning deposit, equal to two months’ rent at the same time as the rent for the first month is paid. If the renter leaves before the end of the term, the owner has the option of retaining the security and rent deposit.
- The Company and the Renter will inspect the property together or through their agents to determine the condition of the property or non-movable objects. The Renter, at his expense, may hire an independent inspector for this task.
- If there are any damages or excessive wear to the property at the end of the rental term or if the Renter terminates the agreement (or non-movable object), the Renter will agree to make the necessary repairs.
- The Renter will be responsible for securing insurance to cover any damages or excessive deterioration that may be the result of the Renter’s activity.
- The Company shall be advised of what purpose or purposes the Renter expects to pursue on the property (or within the confines or vicinity of the non-movable objects).
- The Renter agrees he will provide the company with a statement that states and verifies that the activities will not violate any zoning laws, result in excessive damage to the property (or non-movable object). The Renter also agrees the property (non-movable objects) will be restored to their prior conditions at the end of the rental term.
- The Renter agrees that no illegal activities will be performed on the property (or with or within the non-movable objects).
- The Renter agrees to abide by all applicable zoning and related ordinances, regulations, statutes, legislation or recognized building codes.
- The agreement will state precisely what the Renter is seeking to rent from the Owner as stated in the following section.
___________________ (Representative of the Renter) desires to rent from _________________ (Company) the following section of property located at __________________(street address, city, state, zip) and identified as _________________________ (township, section, lot no. etc.) as recorded by the local assessor (or other office responsible for the conveyance of land records.)
The Renter agrees to pay a monthly rental fee, due on the first day of the month, a sum of ______________ to the company for the use of the land (or immovable object).
The Renter agrees to pay the equivalent of two month’s rent upon signing of the lease as a cleaning and security deposit. Such deposits will be returned if the property (or non-movable property) is returned to its original condition. As previously noted, if the Renter terminates the agreement prior to the end of the stated term, then the security deposit and cleaning fee will not be refunded.
The Renter agrees and commits to following all applicable laws, not to engage in any illegal activities and to provide a hold harmless insurance policy to the Company for any injuries or accidents that may occur while the property (or immovable object) is being rented. This section also requires that all workers at the site be legally authorized to work within the jurisdiction where the said property (or immovable object) is located.
The Renter states that he understands and is aware that while he may ask for an extension to the time frame agreed upon for the rental of the property (or immovable property), the Company is under no obligation to grant such extension. If the Renter refuses to vacate, the Company may take appropriate action to have the renter removed. If such an event occurs, the Renter will forfeit his security deposit to the Company and possibly face criminal trespassing charges.
By accepting these terms, the Renter, or his agent, agrees that he fully understands the provisions stipulated and set forth in this document and further understands that the Company is under no obligation to make any changes for any reason.
By the signing of this document, both parties agree they understand all the provisions and will follow each requirement as stipulated.
This agreement shall become effective on the __________ day of ___________month, year and terminate no later than 12:01 a.m. on the ____________day of ______________month, year, unless other arrangements as set forth in the contract are enacted.
Signed_____________________ Company Representative
Signed_____________________ Renter representative
This rental agreement template is designed for use in cases involving real property and immovable property.
Since this is a rental agreement and not a lease, there is no set term. Normally, there would be some expectation on behalf of both parties to know how long the property was to be rented and used. The owners need to know this, so he could find other tenants for the future.
Contractual agreements for simple matters, such as renting property do not have to be complicated, they just have to be complete. Therefore, it is necessary to specify the physical location, such as the street address, and the legal location, as would be identified by the local assessor, county land office or whatever agency is involved in keeping such records.
When using this template, the user will need to make several changes. For instance, there are numerous references to property and non-movable property. Usually non-movable property is in parentheses. If this is not involved, then these references should be deleted. If the rental is not for non-movable property, such as a building, and not the land, then the references to real property should be removed. If both land and non-movable property, such as land with a building are being rented, then the reference should be change to refer to real and non-movable property.
There are several blanks that have to be filled in to complete this document.
- Reference y to company XYZ should be changed to the legal name of the company.
- The address should be included
- The term or length of the agreement should be included.
- The rental fee needs to be stated.
- The Name of the renter or his represented should be included and the company owning the property needs to be listed again. In addition, the street address and the property location as noted by the local tax assessor or other similar entity must be stated.
- The amount of the monthly rental fee must be listed.
- At the end of the agreement, the date of the agreement signing and the termination date needs to be inserted. That will be followed by representatives or agents of the company that owns the property and the renter.
- Finally, the notary information needs to be included and there should be two witnesses. The notary may want the names printed and typed in, but that is not usually the case.
Finally, it is important to remember that this is a template. Yes, it can be downloaded and some editing done and blanks filled in to make it complete. However, it is up to the user to make certain that the provisions outlined in the agreement do conform to local and state laws. States do have different definitions of non-movable property. If a lawyer is not available and you do not want to go to that expense, a local real estate agent might be able to help you.
Residential lease Agreement Template,
Commercial lease Agreement Template,
Another resource for sample rental agreement