Residential Lease

RESIDENTIAL LEASE

1.   PARTIES . The parties to this Agreement, are _______________ hereinafter referred to as "Landlord" and _______________________________ and _______________________________, hereinafter (if more than one (1) Tenant, jointly referred to as "Tenant"). The premises described herein shall be occupied only by the above named persons. Tenant has completed a separate Rental Application, set forth as Exhibit A, and Landlord is relying on the truth, completeness, and accuracy of such information as an inducement to enter into this Agreement. This Agreement is between Landlord and each named Tenant. The named Tenant(s) are jointly and severally responsible for full performance of all obligations under this Agreement, including, but not limited to, the obligation for the payment of rent.

2.    PREMISES . Landlord hereby leases to Tenant and Tenant hereby hires from Landlord the premises commonly known as _______________________________________________ ________________________________________, subject to the terms, conditions, and covenants set out herein, all of which are a material part of the consideration of this Agreement.

3.    TERM . The tenancy under this Agreement shall commence on ______________ and continue for [one year], continuing until ________________, 20__. [This Agreement shall be automatically extended for successive periods of one (1) year following the initial term, unless either party notifies the other at least thirty (30) days in advance of the end of the then-current term in writing of its election to terminate this Agreement.] [Upon termination of the initial one-year term, this Agreement shall continue as a month-to-month rental agreement until either party terminates the tenancy by giving written notice to the other of their intention to terminate said tenancy, which notice must be given at least 30 days prior to the date of termination.] The thirty (30) day notice referred to in this paragraph does not restrict the Landlord from serving the Tenant with any three (3) day notice that the Landlord is entitled by law to serve on the Tenant.

4.    RENT . Tenant agrees to pay monthly, in advance, no later than the first (1st) day of each and every month. There is no courtesy/grace period and rent is late if received after the first day of the month. The rent payable each month will be the amount of $_______________. Said rent shall be payable to ______________________ and shall be mailed or delivered to: __________________________________________________________
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