Lease AgreementTHIS LEASE AGREEMENT (“Lease”) is made and entered into this _______ day of ____________, 20_____, by and between _________________________________________(hereinafter “Landlord”), and _________________________________________(hereinafter “Tenant(s)”).
PremisesThe Landlord hereby leases to the Tenant and the Tenant hereby rents from the Landlord the premises located at: _________________________________________________________________________. The premises will be used for: _________________________________________________________________________.
TermThe initial term of this Lease will begin on ____________, 20_____ and will end on ____________, 20_____. Thereafter, the Lease will continue on a month-to-month basis until either the Landlord or the Tenant terminate this Lease with written notice.
RentThe Tenant will pay to the Landlord during the Term rent of $_______ per month, payable on or before the 1st day of each calendar month.
Security DepositUpon execution of this Lease, Tenant will deposit with Landlord the sum of $_________ as security for Tenant’s faithful performance of its obligations under this Lease.
Use of PremisesThe premises may be used for ____________________________________________________________________. The Tenant will comply with all the laws and rules affecting the Premises.
Repairs and MaintenanceTenant will keep the Premises in good condition and will pay for any damage to the Premises caused by Tenant or Tenant’s guests.
InsuranceTenant will have comprehensive liability insurance coverage for the Premises for the Term. Landlord will be named as an additional insured under Tenant’s policies.
DefaultIf Tenant fails to comply with any of the material provisions of this Lease or of any present rules and regulations governing the Premises, Landlord may terminate this Lease upon providing proper notice to Tenant.
DisputesAny disputes arising under this Lease will be adjudicated in the state of _________________________________________________________________________.
Additional Provisions_________________________________________________________________________________________________________________________________________________________ IN WITNESS WHEREOF, the parties have executed this Lease as of the day and year first above written. ______________________________ ____________________________ (Landlord) (Tenant) ______________________________ ____________________________ (Date) (Date)
This is a basic form of a NNN Lease Agreement. The laws regulating lease agreements and NNN lease agreements vary by state, and you may need to include additional information in your agreement. Please consult a legal professional for assistance.
The NNN lease agreement is an essential document where the tenant pays all three types of costs – net real estate taxes, net building insurance, and net common area maintenance. If you are looking for a simpler version of a lease agreement, a simple lease agreement template might be more suitable. It provides basic and brief terms that define the landlord and tenant’s relationship.
In some situations, you may require a more defined and specific contract. Take, for example, a scenario where the tenant wants an option to buy the property at some point during the lease. Here, it would be best to use an option to purchase agreement template. It introduces a clause that gives the tenant the right, but not necessarily the obligation, to buy.
However, if you’re in a situation where you want to lease out a portion of your home, like an unused granny flat, then a granny flat agreement template might be more appropriate. This type of agreement focuses on areas like shared responsibilities and usage.
Lastly, for those situations where you wish to terminate your lease agreement early due to unforeseen circumstances, an early termination of lease agreement template will come in handy. This type of agreement outlines terms that allow for the premature end of a lease agreement between both parties. Always remember that when using templates, it’s essential to tailor them to your unique situation and requirements.