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Lease For Rental Property
"I need a Lease For Rental Property agreement for my 2-bedroom residential apartment in Mumbai, which will be rented to a family of four starting March 1, 2025, with a two-year term and quarterly rent escalation clause; the property will be furnished and includes one parking space."
1. Parties: Details of the landlord/lessor and tenant/lessee including full names, addresses, and contact information
2. Background: Brief context about the property ownership and parties' intention to enter into a lease arrangement
3. Definitions: Key terms used throughout the agreement including 'Property', 'Term', 'Rent', 'Security Deposit', etc.
4. Property Details: Specific description of the leased property including address, floor, area, and boundaries
5. Term and Renewal: Duration of the lease, commencement date, and conditions for renewal
6. Rent and Payment Terms: Monthly rent amount, due date, payment method, and escalation clauses
7. Security Deposit: Amount, payment terms, conditions for refund, and deductions
8. Utilities and Maintenance: Responsibility for utility payments, maintenance obligations of both parties
9. Use of Property: Permitted use of the property and restrictions
10. Rights and Obligations of the Landlord: Landlord's commitments, access rights, and responsibilities
11. Rights and Obligations of the Tenant: Tenant's commitments, restrictions, and responsibilities
12. Insurance: Requirements for property insurance and tenant's contents insurance
13. Termination: Grounds for termination, notice periods, and procedure
14. Return of Property: Conditions for returning the property and settlement of accounts
15. Dispute Resolution: Process for resolving disputes including jurisdiction and governing law
16. Notices: Method and addresses for serving official notices between parties
17. General Provisions: Standard clauses including severability, entire agreement, and amendments
1. Furniture and Fixtures: Detailed when property is rented furnished, including inventory and maintenance responsibilities
2. Sub-letting: Include when sub-letting is permitted, specifying conditions and approval process
3. Pet Policy: Include when pets are allowed, specifying conditions and additional deposits
4. Parking: Include when parking space is part of the lease, specifying allocation and rules
5. Common Areas: Include for apartments in complexes, detailing rights and rules for common facilities
6. Commercial Use: Include if property can be used for home office or commercial purposes
7. Force Majeure: Include specific provisions for unforeseen circumstances affecting the lease
8. Lock-in Period: Include when parties agree to a minimum commitment period
9. Property Manager: Include when a property manager is appointed to handle day-to-day matters
1. Schedule A - Property Description: Detailed description of the property including floor plan and measurements
2. Schedule B - Inventory List: Detailed list of furniture, fixtures, and appliances if furnished property
3. Schedule C - Property Condition Report: Documentation of property condition at the start of lease
4. Schedule D - House Rules: Specific rules and regulations for the property or building
5. Schedule E - Maintenance Schedule: Regular maintenance tasks and responsibilities of each party
6. Appendix 1 - Payment Schedule: Detailed breakdown of rent, deposits, and other charges
7. Appendix 2 - Handover Checklist: Checklist for property handover at start and end of lease
8. Appendix 3 - Emergency Contacts: List of emergency contacts including maintenance, security, and building management
Authors
Real Estate
Residential Property
Commercial Property
Property Management
Hospitality
Education
Retail
Corporate Housing
Student Housing
Healthcare
Legal
Real Estate
Facilities Management
Administration
Compliance
Operations
Property Management
Corporate Services
Risk Management
Document Control
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Corporate Housing Coordinator
Leasing Agent
Real Estate Attorney
Property Administrator
Housing Officer
Compliance Manager
Real Estate Operations Manager
Asset Manager
Tenant Relations Manager
Administrative Officer
Business Operations Manager
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