A residential real estate lease is a document which is drafted when a real estate property is leased out from one party to another for residential purposes. These types of leases contain the details of the parties involved and the terms and conditions agreed between them.
Sample Residential Real Estate Lease:
The Sherman real estate company is leasing out the 4-storey apartment located at R-87 Dudley, West Midlands to Mr. Andrew Jacob. It is a 3500 sqft apartment which is the property of Sherman group.
Date of Commencement of Lease: 13/3/2011
Date of lease agreement: 13/3/2012
Duration: 1 year
Residential real estate lease Terms and Conditions:
- This property is a 4-storey apartment and the rent will be $7000 per month which has to be paid by the lessee by the first week of every month.
- The security deposit is $15000 which is exclusive of taxes.
- All the other amenities like swimming pool, badminton ground, garden, servant quarter and parking will be used by the lessee during his stay at the apartment.
- The lessee will have to pay the municipal taxes like water, electricity, house etc during his stay.
- The furnishing of the house will also be looked after by the lessee and the furnishings have to be returned in the same condition at the terminations of the lease.
- The premise must not be used for any other purposes apart from residential use.
Signature of the Lessor: ______________
Signature of the Lessee: _________________
Date of Signing the lease: