A basic rental lease refers to the most simple and basic lease document which can be used to lease a property, item, automobile and so on. There are certain basic points which must be included in a basic rental lease agreement. The names of the lessee and the lessor along with the addresses and other contact details must be included and some of lease agreements also need the details of an any witness too. Next, the leased property or item must be described and the term of the lease should also be mentioned. Any other terms and conditions, like security deposit and so on must be included.
Sample Basic Rental Lease:
This rental lease contract has been entered on February 20, 2012 by the lessee Dick Greece for a car rented from lessor Moody Auto Agency. According to the agreement, the lessor hereby agrees to lease the car to the lessee, who shall have the right to use the car only for a period of 6 months.
- Car details: 2006 Mustang, Automatic, 30,000 miles
- Rent p.m. : $250
Terms and Conditions:
- The lessee must pay a security deposit of $1,000 which will be returned to him after the lease ends
- A one-week advance notice must be given by both parties to terminate the contract
- The car will be checked by the lessor before handing over the keys and will be checked again when the lease is over to check for any damages
The undersigned agree to the terms and conditions.
Signature (Lessor) Date
Signature (Lessee) Date