LEASE AGREEMENT
THIS TENANCY AGREEMENT made on this [insert date].
BETWEEN:
A. [INSERT YOUR NAME/NAME OF YOUR COMPANY] of [insert your address]
Minneapolis; Email: [insert your email] (hereinafter called "the Lessor" which
expression shall include where the context so admits its successors in title and
permitted assigns) of the one part; and
B. [INSERT NAME OF THE LEASEE] of [insert Lease’s address]; Email: [insert lessee’s
email] (hereinafter called "the Lessee" which expression shall include where the
context so admits his personal representatives and permitted assigns) of the other part.
WHEREAS:
i. The Lessor is the legal and beneficial owner of Property Apartment Number [insert
details] located at [insert where the Apartments are located] erected on Property Land
Reference Number [insert details] in [insert either Minneapolis or Minnesota]
(hereinafter called “the Premises”).
ii. The Lessor has agreed to let and the Lessee has agreed to take the Premises upon the
terms and conditions hereinafter appearing.
NOW THIS TENANCY AGREEMENT WITNESSES AS FOLLOWS:
1. The Lessor shall let and the Lessee shall take the Premises for a period of One (1) year
from [insert date] (the “Term”).
2. The premises in this agreement refer to a Three-bedroom house with two bathrooms.
3. The rent of the Premises shall be the sum of Two Thousand Two Hundred Dollars
(USD 2200.00) per month (inclusive of Service Charge) payable monthly in advance
to the Lessor by the Fifth (5 th day of every month. The Lessee shall also pay security
deposit equivalent to One Month’s rent amounting to Two Thousand Two Hundred
Dollars (USD.2200.00) only on execution of this Agreement;
4. The Lessor shall also be required to pay One Hundred Dollars (USD 100.00) per month
for electric utility as well as One Hundred and Forty Dollars (USD 140.00) per month
for gas utility.
5. Should the rent be increased after the expiry of the current term, the Lessee will be
required to top up the deposit to equal the new rent. The deposit will be refunded without
interest to the Lessee at the termination of the Agreement subject to the yield up clause
19 herein.
6. The Lessee shall pay the rent in United States Dollars denomination on the days and in
the manner set out in this Agreement to the Lessor’s bank account below:
Account Name: [insert details]
Account Number: [insert details]
Currency: USD
Bank: [insert details]
Branch: [insert details]
PROVIDED that the Lessor may from time to time nominate a different bank and account
for this purpose and notify the Lessee in writing.
THE LESSEE HEREBY COVENANTS WITH THE LESSOR AS FOLLOWS:
1. The Lessee shall pay the rent on the days and in the manner set out in this Agreement to
the bank account nominated by the Lessor.
2. To at all times during the tenancy pay to the appropriate authority all charges in respect
of electricity supplied to the premises and of the telephone installed therein (if any) and
conservancy and water charges in respect of the premises.
3. The Lessee shall at all times during the tenancy keep the interior of the buildings
composed in the Premises including all doors windows sanitary apparatus fittings and
the electrical wiring apparatus and fittings therein clean and in good order and condition
and also to make good any stoppage of or damage to the drains howsoever caused and
at the expiration of the tenancy the Lessee shall peaceably and quietly yield up
possession of the premises to the Lessor in such good order and condition as aforesaid
(fair wear and tear and loss or damage through burglary and accidental fire only
excepted) and with all locks and keys and fastenings complete.
4. The Lessee shall pay for the replacement or make good repair or restore any fixtures
broken lost damaged or destroyed during the tenancy other than loss or damage caused
by reasonable wear and tear or burglary or accidental fire covered by insurance.
5. The Lessee shall not keep any pets in the premises, unless it is a service dog, for which
the Lessee shall furnish the Lessor relevant documentation to show that the dog is in fact
a service dog.
6. The Lessee shall be responsible for all damage that is incurred as the result of
negligence or willful act on the part of the Lessee and/or occupant to walls ceiling floors
windows and doors and will repair at its own expense if required to do so by the Lessor.
7. The Lessee shall replace any keys (or the appropriate locks) which are shown in the
inventory of keys and which are lost or destroyed during the tenancy.
8. The Lessee shall not make any alterations or additions to the premises or drive any nails
screws or any other fasteners into walls floors ceilings without the consent in writing of
the Lessor.
9. The Lessee shall make periodical inspections of the premises and shall report immediately
to the Lessor the presence or suspected presence of any white ants or any other
destructive insects or of any dry rot should infestation be discovered or suspected.
10. The Lessee shall not allow its or its visitors cars to be driven off the drive-way so as to
deviate from the existing way.
11. The Lessee shall permit the Lessor with or without workmen or others and with or
without apparatus machinery appliances or materials at all reasonable times of the day
and upon reasonable times of the day and upon reasonable notice to enter upon the
premises and view the state and condition thereof and also to execute or do any
repairs or work therein which may be the responsibility of the Lessor or which the
Lessor may deem desirable or necessary.
12. The Lessee shall not sub-let the premises during the period of the tenancy without the
consent of the Lessor in writing.
13. The Lessee shall use the premises as a residence only and will not carry on any form
of business thereon.
14. The Lessee shall not do or permit to be done anything whereby any insurance of the
premises against loss or damage by fire may become void or voidable or whereby the
rate of premium for any such insurance may be increased and to repay to the Lessor
all sums paid by way of increased premium and all expenses incurred by her in or about
the renewal of any such policy rendered necessary by a breach of these covenants and
all such payments shall be added to the rent hereinbefore reserved and be recoverable
as rent upon notice to that effect being given by the Lessor.
15. The Lessee shall ensure that proper security arrangements are made to protect the
premises in the absence of the Lessee/occupiers and shall be liable for the cost of any
such additional security arrangements.
16. The Lessee shall not suffer to be done or permit in or upon the premises anything which
might have the effect of causing the title of the Lessor to the premises to be forfeited.
17. The Lessee shall make and keep the garden and grounds of the premises in good
cultivation and shall not cut any timber or remove any trees or shrubs without the prior
consent of the Lessor in writing.
18. If the rent at any time during the period of the tenancy becomes more than fourteen (14)
days in arrears whether legally demanded or not or if the Lessee shall omit to perform
or observe any of the covenants herein contained then the Lessor retains the right to
terminate the tenancy and assume possession of the demised premises immediately
and take whatever action the Lessor thinks fit to recover the arrears of rent.
THE LESSOR HEREBY COVENANTS WITH THE LESSEE as follows:
1. Payment of Outgoings
The Lessor shall pay all rent rates taxes sewerage charges service charge impositions
and assessments which now or may hereafter be imposed or assessed by the
respective authorities in respect of the premises other than those for which the Lessee
is liable under the provisions of this Agreement.
2. Fire Insurance
The Lessor shall insure and keep insured the premises against fire in the full insurable
value thereof and shall pay all premiums necessary for effecting and keeping up the
same.
3. To keep the premises in good and Lesseeable repair and condition
The Lessor shall keep the roof main structure and walls of the premises in good and
Lesseeable condition and order as on entry to the premises including all electrical
wiring and electrical apparatus comprised in and forming part of the electrical circuits of
the same and the exterior of all such buildings and all additions thereto and the drains
septic tank water supply and the pipes carrying the same situate on and serving the
premises at any time during the continuance of this Agreement and to carry out all
structural repairs to or defects in the premises.
4. Repairs
If the Lessee or Lessor after notice in writing given to it by the other party requiring it to
carry out any work of repair or redecoration for which it is lawfully liable shall fail to
commence and diligently proceed with such works within Fourteen (14) days it shall be
lawful for the party giving such notice to carry out and execute such works (and the
cost thereof shall be a debt due from the other party and be forthwith recoverable by
action) or to terminate the tenancy with immediate effect.
5. Quiet Enjoyment
The Lessee paying the rent hereby reserved and performing and observing all the
agreements and conditions herein contained or implied and on its part to be performed
and observed shall and may peacefully and quietly hold and enjoy the premises during
the tenancy hereby created without any interruptions from or by the Lessor or any
person on their behalf.
6. Refund of Deposit
Within Fourteen (14) days of the expiry or determination of the Term and after delivery
up of the Premises in proper condition and in accordance with the Lessee covenants
herein to refund the Deposit (or part thereof) to the Lessee but without interest. For
avoidance of doubt, no Deposit will be refunded where the Lessee fails to issue to the
Lessor Two (2) months’ notice to terminate the tenancy.
7. Termination
Notwithstanding anything to the contrary herein contained or implied either party shall be
entitled to terminate this Agreement on giving the other party Two (2) months’ notice in
writing of her/its/their intention to do so and at the expiration of such period of notice this
Agreement shall cease and determine but without prejudice to any right of action
accrued to either party in the currency of the agreement.
The Lessee agrees to allow the Lessor permission to enter the premises One (1)
month prior to vacating so as to allow the Lessor to bring around prospective clients
provided that the Lessor fixes a convenient time to do so.
8. Renewal
If the Lessee shall desire to obtain a further tenancy of the said premises for the term
Two (2) Years from expiry of the term hereby created and shall deliver to the Lessor a
written notice of such desire Two (2) calendar months at least before the expiry of the
said term and provided there shall not at the time of such request be any existing breach
or non-observance of any of the covenants agreements conditions and provisions
herein contained or implied and on the part of the Lessee to be observed or performed
then subject as hereinafter provided the Lessor at the expense of the Lessee MAY
grant to the Lessee a tenancy of the said premises for a further term of Two (2) Years
from the expiration of the term hereby created containing the like covenants
agreements conditions and provisions as are herein contained excepting the present
covenant for renewal at a fair market rent which shall be mutually agreed by the
parties hereto within the period of one calendar month from receipt by the Lessor of
the Lessee’ notice to renew the lease time being of the essence and in default of such
mutual agreement at such rent as shall be assessed before the expiry of the term
hereby created by an Independent Valuer appointed by the Lessor at the then current
rental value of the said premises; and in default of such rent having been fixed by
agreement or assessment as herein provided by the expiration of the term hereby
created his option shall be null and void.
9. Notices
Any notice required to be served hereunder shall be in writing and shall be sufficiently
served upon either party if forwarded to that party by registered post or left at that
party’s last known address in [insert whether Minneapolis or Minnesota]. A notice to
the Lessee may be left at the Premises. A notice sent by post shall be deemed to be
given after Seven (7) days from the date of posting thereof.
10. Dispute Resolution
Any dispute which may arise under this Agreement not mutually settled and agreed
between the parties shall be referred for Mediation by a Mediator whose appointment is
to be agreed upon between the parties.
11. Application Law and Jurisdiction
The law applicable in the administration and interpretation of this agreement shall be the
laws of [insert whether Minneapolis or Minnesota].
IN WITNESS WHEREOF the parties hereto have executed this Tenancy Agreement the day
and year first above written.
/s/_________________________
[insert name of the Lessor]
[date]
/s/_________________________
[insert name of the Lessee]
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