REAL ESTATE RENTAL FORM
Leasing Forms and Addendums

SAMPLE RENTAL AGREEMENT

1) PARTIES: This agreement is entered into on this date ___________, between the following parties RESIDENT(S): _________________________________________ and OWNER / MANAGER:_______________________________________________. Resident agrees to rent from the owner of the premises at the following location subject to the terms and conditions of this agreement.

RENTAL HOME ADDRESS: ______________________________________________

2) MOVE-IN COSTS  AMOUNT           CHARGE / DESCRIPTION

Rent                                   $_________          Monthly or Bi-Weekly Rent (circle one)

Security Deposit       $_________          Refundable deposit per agreement

Key Deposit                  $_________          Refundable deposit per agreement

Additional Deposit  $_________          See attached Pet addendum

Other                               $_________          ____________________________

Total Due                       $_________

3) CUSTOM HOME:

The Resident(s) agree to rent from the Owner(s) the premises located at the above address and the home includes the following furnishings, amenities and upgrades:

__________________________________________________________________________ 

4) TERMS - THREE-STAR RESIDENT: The rental will begin on _______ and continue on a month-to-month basis. Either party may terminate the tenancy or ask to upgrade the terms by giving the other party ______ days written notice. As part of our Resident 3 Star Program, we, the owners and managers, look forward to serving your housing and related needs for the next three years until the following date ________. During the next 3 years, you will receive the following benefits as a resident in good-rental-standing:

1) On your first anniversary date you are entitled to ____________________________________;

2) On your second anniversary date, ________________________________________________;

3) On your third anniversary date, _________________________________________________.

As part of the Three-Star Program, the following upgrade, ________________ (part of your Custom Home rental package), will become your property after the _____ year of your rental term. Since this item will become your property, you the resident are responsible for maintenance and/or repair of the item(s). In addition, the management requires that an additional "Upgrade" deposit  of $_______ be held for the first six months of this term. This deposit is completely refundable at the time of the first six month home inspection, upon satisfactory inspection of the item. This tenancy and 3-Star Program begins_________. 

5) PAYDAY RENT PAYMENT OPTION: Resident has the option to pay rent monthly, (the old fashioned way), rent of $________ payable in advance on or before the first day of each month. Or, if resident prefers and considers it more convenient, resident may pay rent biweekly (every two weeks to coincide with paychecks) rent of $__________ payable in advance on or before _________ of every other week. Resident chooses to the Old-Fashioned plan or the Payday Plan (circle one).

6) STANDARD WORRY-FREE PAYMENT METHODS: Residents may select one of the following Standard "Worry-Free" payment methods for paying rent during the rental term, so they don't have to worry about late charges every month. Residents agree by signing this agreement to give permission and authorization to arrange for rent collection by method selected and debit appropriate account(s).

Preferred Method Of Payment Selected:

___ Electronic debit from checking account on following days/dates each month __________________

___ Electronic debit from savings account on following days/dates each month___________________

___ Debit Card or Credit Card debit from following account:__________________________________

___ Payroll deduction sent directly from employer biweekly or monthly.

Payment may be made by traditional methods, such as check or money order, which requires an additional handling fee of $______ per transaction. Please make checks payable to: ________________________. Check or Money Order should be delivered to ____________________________________________.

7) EARLY PAYMENT  REBATE: The rent due date is ________. The normal rent rate is $ _______. Rent paid early, which is received at least ____ days BEFORE the due date, the resident will be entitled to a $______ rebate mailed back to the resident within 10 days after payment is received. Please note, that if a resident is participating in one of the worry-free payment methods and payments are automatically debited early (specified number of days prior to the due date), then the rebate amount is automatically reduced from the total debited.

 8) LATE PAYMENT CHARGE: Regular payments are due by  the ________. Resident agrees that if rent is not received by 5:00 p.m. on the due date, Resident shall pay a late payment charge of _______.  Any dishonored check shall be treated as unpaid rent, and be subject to a handling fee of $_______, and must be made good by cash, money order, or certified check within 24 hours of notification.

9) TRADITIONAL DELIVERY OF PAYMENTS:  Please be advised that any payments lost in the mail will be treated as if unpaid until received by management. If a check is returned unpaid for whatever reason, checks will no longer be accepted for at least six months. Resident will be required to pay by certified funds only. To avoid potential problems, we suggest one of the worry free payment methods.

10) OCCUPANTS:  No more than ____ occupants shall occupy the premises, and only the following listed residents:_________________________________________________________________

:_________________________________________________________________

11) ADDITIONAL RESIDENTS: Persons other than those specifically listed on the Rental Agreement shall be strictly prohibited from staying in the rental unit for more than 7 consecutive days, or a total of 20 days in any twelve month period.  For purposes of this section, "staying in the rental unit" shall include, but not be limited to, long-term or regular house guest, livein baby sitters, visiting relatives, etc.  Resident shall notify the Management in writing any time the Resident expects any guest will be staying in excess of the time limits in this paragraph. Additional residents cannot occupy the premised without first being approved by management and are subject to full screening procedures. If additional residents are accepted, this is also subject to additional rent and security deposit being required. Unauthorized residents are a violation of this agreement and are grounds for termination.

12) ASSIGNMENT and SUBLETTING: Resident will not sublet or relet any part of the premises or assign this Agreement without prior consent of the landlord or management.

13) UTILITIES: Resident(s) are responsible for all utility charges, except for the following, which will be paid by owner:___________________________________________

14) FINANCIAL HARDSHIP:  Because unforeseen circumstances may occur during the rental term which may create difficulty for residents to make timely rent payment, residents agree to work with owner and permit direct contact from the owner with the following individuals, companies or organizations for assistance in past due rental payments. Please provide names and phone numbers of individuals who may be able to provide assistance for payment of rent should you need temporary financial assistance.

Emergency Contact #1

Name____________________________________ Phone__________________________

Emergency Contact #2

Name____________________________________ Phone__________________________

Parent or CoSigner

Name____________________________________ Phone__________________________

Church or Non-Profit Organization that may be able to assist resident.

Contact__________________________________ Phone__________________________

Additional agency that may be able to assist resident.

Contact__________________________________ Phone__________________________

Charge the following credit card # if rent becomes 5 days past due

___________________________________________ Exp. date_______________

Cardholder's Signature_________________________________________________

15) CONDUCT: Resident, family and guests shall not make or allow unreasonable noise or sound.  Resident and/or guests shall not disturb other Residents' peaceful enjoyment of the premises.  Disorderly conduct will result in a notice to vacate the premises and termination of agreement.  In addition, Residents are responsible for all actions and damages caused by Resident's guests.

 16) NOTICES:  Any notice is deemed served on the day on which it is both mailed by first class mail to the Resident at the premises, and attached in a secure manner to the main entrance of that portion of the premises of which Resident has possession.

 17) REMEDIES/ATTORNEY'S FEES: Nothing in this Agreement shall limit the right of the Manager to terminate this Agreement as provided by any provision of the Landlord Resident Act.  If civil action is instituted in connection with this Agreement, the prevailing party shall be entitled to recover court costs and any reasonable attorney's fees.

18) MANAGER/AGENT FOR SERVICE:  The Name, address and phone of the manager and agent for service is: ________________________________________________

19) MAJOR MAINTENANCE GUARANTEE: Residents understand and agree that the following major repairs are the responsibility of the owners and managers

1) __________________________________________________________________

2) __________________________________________________________________

3) __________________________________________________________________

The owners/managers agree to guarantee that these major repairs will be fixed within 72 hours after notification of the problem to owner/manager. The residents understand that if a major repair is not corrected within 72 hours after notification, the resident will receive FREE RENT on a prorated basis starting the fourth day after the day of notification until the problem is corrected. Residents further understand and agree that the 72 hour clock does not start ticking until after the owner has been directly notified of the problem and provides confirmation of that acknowledgment to resident. The maintenance guarantee will not be honored if the maintenance problem was caused because of the residents' negligence, abuse or fault. The resident also agrees that in order for the owner to honor the guarantee, the owner or manager must be given access into the building, with the resident's permission, to correct the problem.  Free rent will be awarded in the form of a cash rebate following the next on-time rent received.

20) YARD/GROUNDS: Resident shall properly care for and mow the grass and adequately water the lawn, shrubbery and grounds. If yard is not properly maintained, management reserves the right to hire someone to mow or care for yard and charge the expense to the resident as additional rent, after first advising the resident that they have 72 hours to handle the responsibility. In regard to yard upkeep, manager is only responsible for _______________________________________.

21) ABANDONMENT: Any goods, vehicles, or other property left on the premise after termination of the tenancy by any means shall be considered abandoned and disposed of as provided by statute.

22) COMPLIANCE WITH THE LAW: Resident shall not violate any applicable local, state or federal law or regulation in or about the premises.

23) INSURANCE: Owner and Management are not responsible for any loss or damage to property owned by Resident or guests unless resulting from Management's intentional or  negligent acts. It is understood that all residents should carry renter's insurance for fire, extended coverage and liability to cover accidental injury and damage or loss of personal property due to fire or theft.

24) NON-WAIVER AND ACCEPTING PAYMENTS: Should the owner or manager accept any partial or late rent payments, this in no way constitutes a waiver of the Owner, nor affects any notice of eviction proceedings previously given.Waiver by either party of strict performance of any provision of this agreement shall not be a waiver of or prejudice the party's right to require strict performance of the same provision in the future or any other provision.

25) PETS: Resident and/or guests shall not maintain any pets upon the premises, without prior written consent of the Management. No animal, bird or fish of any kind will be kept on the premises, even temporarily, except properly trained dogs needed by blind, deaf or disabled persons and only under the following circumstances __________________________________________________________.

If a pet is accepted, (not referring to trained dogs for assistance) this is subject to payment of a higher monthly rent and additional deposit. Please refer to Pet addendum. (If applicable)

26) EXTENDED ABSENCE: Resident will notify Landlord in advance if Resident will be away from the premises for _______ or more consecutive days. During such absence, Landlord may enter the premises at times reasonably necessary to maintain the property and inspect for needed repairs.

27) DISCLOSURES: Resident acknowledges that Landlord has made the following disclosures:

___ Disclosure of information on Lead Based Paint and/or Lead Based Paint Hazards

___ Other disclosure - ___________________________________________________

28) FUTURE HOMEBUYER: Residents understand and agree that, following each on-time payment received, the owner has agreed to increase the amount of money by $____ the resident will be entitled to receive toward purchase of a home at time of closing. The total amount will be referred to as the Future Homebuyers Account for the resident during the term of the rental. Residents will be able to receive a credit at closing equal to the amount in their Future Homebuyers Account once they have been a resident for a minimum of ______ years. Money equivalent to the future homebuyers account is to be used solely for the purchase of a house and is credited or paid out at time of real estate closing. The house a resident may purchase and apply the homebuyers account towards can be selected from either the same residence in this agreement or a home offered from one of the following builders or brokers: _______________________________________________.

Please note that the money total increases each month with every on-time payment received by the following due date:_________. If, however, payment is received late, the total money accrued into the homebuyers account up to that point becomes null and void. The account starts again to accumulate with the next on-time rental payment. Residents further understand and agree that residents are:

1) responsible for handling all minor repairs, subject to the resident paying the first $100 of any repair, unless the repair is needed because of the negligence of the owner or manager. In that case the owner is responsible for the total cost of the repair.

2) to pass semiannual property inspections, and

3) to annually attend a maintenance class or training offered to residents.

By meeting those three requirements, , residents will receive an additional $_______ every 6 months (following each inspection) added toward their home buyers account.  Two property inspections are conducted yearly with a checklist provided to residents in advance of inspections. Failure to handle minor repairs or failure to pass a property inspection nullifies the total amount accumulated up to that point in the resident's Future Homebuyers Account.

29)  SATISFACTORY INSPECTION: Resident has personally inspected the Premises, and finds them satisfactory at the time of execution of this agreement unless as noted on the Property Condition Checklist.

30)  NO OTHER PROMISES:  No promises have been made to Resident except as contained in this agreement, and as follows: ___________________________________________________

31)  USE OF PREMISES.  The premises shall be used as a dwelling unit and for no other purposes.  Resident shall use, in a reasonable manner, all facilities, utilities and appliances on the premises and shall maintain the premises and facilities in a clean and sanitary condition at all times and upon termination of the tenancy shall surrender the premises in as good condition as when received, ordinary wear and tear and damage by the elements excepted. Resident further agrees to make all utility payments, (that are listed in their name), on time during the term of this tenancy and will be considered in breach of this agreement for nonpayment and will be held liable for any resulting added charges and damages.

32)  PLUMBING: Expense or damage caused by stoppage of waste pipes, overflow of bathtubs, toilets or washbasins caused by Resident's conduct shall be Resident's responsibility.

33)  ALTERATIONS: Resident shall not tamper with or make alterations (including painting, nail holes, contact or wallpaper) to the premises without Manager's prior written consent. All curtains, mini-blinds, fixtures, shelves and carpet present in the premises before move-in, must remain when resident vacates. In addition, locks may not be changed or added without Owner's or manager's prior written permission. And if permission is granted, a copy of any new keys will be given to the management within three days after the change. If resident is locked out of the premises, there is a charge of $_____ to open the premises between the hours of ________________. And a charge of $_____ for opening the premises beyond those hours. Additional charges apply if key is lost and locks must be changed.

34) VEHICLES:  Only authorized vehicles may be parked on the premises. These vehicles  include:_________________________________All vehicles kept on the premises must be operational and have current registration, tags, decals and license required by local and state laws. Any vehicle not meeting these requirements or unauthorized vehicles will be removed at the resident's expense after being given 72 hour notification. Vehicles must be parked only on paved or designated areas. Resident further understands that no repairing, servicing or painting of the vehicle is permitted on the premises. Resident also agrees never to park or store a recreational vehicle, motor home or trailer of any type.

35)  REPAIRS/REPORTING:  Resident shall notify manager immediately in writing of all equipment malfunctions, failure to supply services, or repairs needed. Resident shall not tamper with or repair heating/ac, locks, without first obtaining written consent of owner.

36) INDEMNIFICATION: Resident shall indemnify, defend and hold owner harmless from any claim, loss, or liability arising out of or related to any activity on Premises of Resident, and any guest.  Resident's duty to indemnify shall not apply to or prevent any claim by Resident against manager for injury or damage to Resident or Resident's property for which manager may be liable.

37) FREE UPGRADE REFERRAL: The owner agrees to offer a free property upgrade once a year to any resident who recommends and refers just one qualified prospective resident to one of our rentals during the course of any year.  In order for current residents to qualify for the free property upgrade, any referred prospective resident must

1) fill out a rental application,

2) meet the minimum resident criteria,

3) either move-in to one of owner's rentals (paying all required funds) or, pay  $100 fee to be placed on the owner's "priority waiting list", which is refundable if owner does not find housing that matches stated preferences of referred future resident within a 90 day period.

38) SECURITY DEPOSIT:  The sum set forth on this Rental Agreement has been deposited with manager upon execution of this agreement as a security deposit to be applied to remedy any default by Resident in performance of Resident's obligations under the lease and to repair damages to the Premises caused by Resident, not including ordinary wear & tear.  Within ___ days after termination of the lease and delivery of possession of the leased premises to manager, manager shall refund the deposit or shall give Resident an accounting of Manager's claim to the deposit. If costs or repairing damages exceed the amount of the deposit, Resident shall be responsible for all such excess costs. Resident may not at any time apply the security deposit to be used as last month's rent or any other sum due under this agreement.

39) APPLIANCES: Unless otherwise stated as part of the custom rental package, this rental agreement does NOT include any appliances. Appliances that are located on the premises are there solely at the convenience of the owner, who assumes no responsibility for their operation. While on the premises, residents are free to use them; however, residents do so at their own risk. In the event appliances fail to function, the owner is not liable for repair or damages. If residents wish, at any time they may request that the appliances be removed. The owner will dispose of them at his expense.

40) MANAGER'S RIGHT TO ACCESS:  Manager shall have the right to enter the premises in order to inspect the Premises, make necessary or agreed repairs or improvements, supply necessary or agreed services, or show the premises to prospective residents, purchasers or contractors.  Except in case of emergency, agreement to the contrary by Resident, or unless it is impractical to do so, manager shall give Resident at least 24 hours notice of manager's intent to enter, and may enter only at reasonable times.  Manager shall also have the right to enter the Premises when Resident has abandoned or surrendered the Premises, or during any absence of Resident in excess of 7 days.  Resident shall not unreasonably withhold consent for manager to enter the premises.

41) RESIDENT'S TERMINATION NOTICE: Resident may not terminate this rental agreement without (30) day written notice if this is a month-to-month tenancy. Failure of Resident to provide appropriate written notice to terminate a month-to-month tenancy will result in a Resident's continuing obligation under this Agreement for up to thirty (30) days.

42) LIENS: Except with respect to activities for which manager is responsible, Resident shall pay as due all claims for work done on and for services rendered or material furnished to the Premises, and shall keep the Premises free from any liens caused by Resident's failure to meet Resident's obligations.

43) DAMAGE AND DESTRUCTION:  In the event the Premises is severely damaged or destroyed by fire or other casualty, either party may terminate the lease. In the event damage was caused by resident's action or neglect, resident will be held liable for all damages.

44) BUILD YOUR CREDIT REPUTATION: A review of each resident's performance is done every six months and the owner will provide residents with a copy of a GOOD performance report when so earned. Good reports are earned by residents who pay on time and follow ALL terms of the rental agreement. Residents can then give copies of their report to future landlords, loan officers, banks and mortgage companies. These reports may be beneficial in helping you rent or buy a car or house in the future. Building your credit reputation may also help residents participating in the Future Homebuyers Program. Please note; a poor payment performance and any judgments are reported to national credit agencies and will be made available to future landlords, banks and other creditors who residents may want to do business with in the future. Therefore, it is important that residents understand that the credit they establish with the owner and the reputation they develop through performance reports during the rental term (good or bad) can follow residents for many years. Because of such importance of performances reported, a resident will always be notified when a nonpayment or rental violation occurs and the resident will be given an opportunity to immediately correct any poor performance before it is reported.

45)  JOINT LIABILITY: Each person signing this Agreement as a Resident is jointly and severally liable for all the terms of this agreement.

46) ADDITIONAL PROVISIONS & MODIFICATIONS TO THIS: Any additions or modifications to this Agreement must be in writing. The following additional provisions are part of this agreement: _____________________________________________________________________________

_____________________________________________________________________________

47) VALIDITY OF EACH PART: If any portion of this Agreement is held to be invalid, its invalidity will not affect the enforceability of any other provision.

48) GROUNDS FOR TERMINATION: The failure of Resident or guests to comply with any term of this agreement is grounds for termination , with appropriate notice and procedures required by law.

49)  READ THIS ENTIRE AGREEMENT: That Resident has read all the stipulations contained in the rental agreement, agrees to comply and has received a copy thereof.

Resident's signature:________________________________________    Date _______________

Resident's signature: ________________________________________   Date ________________

Owner/Manager/Agent signature:______________________________    Date _______________