1. PARTIESThis Lease Agreement (“Lease”) made and effective this _________ (the “Effective Date”), is entered into by and between _____________(the “Landlord”), and _____________ (the “Tenant”) (collectively the “Parties”). **Insert date, Landlord and Tenant names accordingly.**
2. PREMISESThe Landlord leases to Tenant and Tenant rents from Landlord, the premises located at ___________. The premises will be used for ___________. **Insert premises address and usage purpose.**
3. TERMThe initial term of this Lease will start on ___________ and will terminate on ___________ unless either the Landlord or Tenant terminate this Lease earlier as permitted elsewhere in this Lease. **Insert start and end date of Lease.**
4. RENTTenant will pay to Landlord the rent of $_________ per month, due on the first day of each calendar month. **Insert rent amount.**
5. SECURITY DEPOSITUpon execution of this Lease, Tenant will deposit with Landlord the sum of $_________ as security deposit. **Insert security deposit amount.**
6. MAINTENANCE AND REPAIRTenant will keep the Premises in clean, sanitary, and good condition. If any damage to the Premises is caused by Tenant or Tenant’s guests, Tenant will promptly notify Landlord, and will repair the damage at Tenant’s expense.
7. INSURANCETenant will maintain at its own expense a policy of public liability and property damage insurance.
8. DEFAULTIf Tenant fails to comply with any of the material provisions of this Lease or of any present rules and regulations, Landlord may serve a written notice to Tenant to effect such compliance.
9. ASSIGNMENT AND SUBLETTINGTenant will not assign this Lease, or sublet or grant any concession or license to use the Premises or any part of the Premises without the prior written consent of the Landlord.
10. GOVERNING LAWThis Lease will be governed by and construed in accordance with the laws of the State of Alabama.
11. ENTIRE AGREEMENTThis Lease contains all the terms agreed to by the Parties relating to its subject matter. It replaces all previous discussions, understandings, and agreements.
12. SIGNATURESLandlord: _____________ Signature: _____________ Date: _____________ Tenant: _____________ Signature: _____________ Date: _____________ **Insert respective names, signatures and dates.** This lease agreement is subject to the Alabama Uniform Residential Landlord and Tenant Act. Note that this template is a general sample of a lease agreement. Depending on the complexity of the transaction, other terms and conditions may be added. See counsel from a lawyer or real estate professional before finalizing any lease agreement.
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