A residential lease agreement is a legally binding contract between a landlord and tenant that outlines the terms and conditions for renting a property. These agreements protect the rights of both parties and ensure clarity in terms of expectations, responsibilities, and liabilities. Below, we provide three diverse and practical examples of residential lease agreements to help you understand their structure and contents.
This type of lease is commonly used in residential properties, detailing the basic terms of the rental relationship.
In this example, a landlord leases a two-bedroom apartment to a tenant.
LANDLORD: John Doe
TENANT: Jane Smith
LEASE TERM: 12 months (From January 1, 2024, to December 31, 2024)
RENT: $1,200 per month
SECURITY DEPOSIT: $1,200
PROPERTY ADDRESS: 123 Main St, Springfield, IL 62701
The tenant agrees to pay the rent on the first of each month and to maintain the property in good condition. The landlord is responsible for major repairs and maintenance. The agreement also includes clauses regarding pets, parking, and termination of the lease with appropriate notice.
Notes: This standard lease is suitable for most residential rentals but can be customized to include additional stipulations like maintenance responsibilities or pet policies.
This type of lease is ideal for tenants who require flexibility in their rental arrangements.
In this example, a landlord leases a studio apartment on a month-to-month basis to a tenant.
LANDLORD: Emily Johnson
TENANT: Mark Lee
LEASE TERM: Month-to-Month (Starting February 1, 2024)
RENT: $900 per month
SECURITY DEPOSIT: $900
PROPERTY ADDRESS: 456 Elm St, Springfield, IL 62701
The tenant can terminate the lease by providing a 30-day written notice. The landlord is responsible for maintenance, while the tenant must keep the apartment clean and report any issues promptly. The lease specifies that the rent will be reviewed every six months and may be adjusted accordingly.
Notes: Month-to-month agreements offer flexibility but may result in rent increases more frequently. It’s essential to clearly outline the notice period for termination.
While primarily for commercial use, this example highlights a lease agreement for a residential unit within a mixed-use property.
In this scenario, a landlord rents a residential unit above a retail space to a tenant.
LANDLORD: Sarah Connor
TENANT: Tom Hardy
LEASE TERM: 24 months (From March 1, 2024, to February 28, 2026)
RENT: $1,500 per month
SECURITY DEPOSIT: $1,500
PROPERTY ADDRESS: 789 Oak St, Springfield, IL 62701
The tenant is responsible for utilities and must adhere to noise regulations due to the retail space below. The landlord agrees to maintain the common areas and provide adequate parking. The lease includes terms for early termination under specific circumstances and addresses the use of the residential unit in relation to the commercial activities below.
Notes: This type of lease may require additional considerations related to shared spaces and noise management. Always consult legal advice for mixed-use properties to ensure compliance with zoning laws.