Full question:
What is a residential lease?
- Category: Landlord Tenant
- Subcategory: Residential Lease
- Date:
- State: National
Answer:
A residential lease, also known as a lease agreement or contract, is a legal document between a landlord and a tenant for renting a residential property. The lease can be month-to-month, for a year, or for any duration agreed upon by both parties.
Here’s a sample structure of a residential lease:
This Residential Lease Agreement (hereinafter “Lease”) is entered into this the ____ day of _____________________, 20____, by and between the Lessor: ______________________________________, (hereinafter referred to as “Landlord”), and the Lessee(s): ______________________________________________________________________________________. All Lessees (hereinafter referred to collectively as “Tenant”) are jointly, severally, and individually bound by, and liable under, the terms and conditions of this Lease. For the valuable consideration described below, the sufficiency of which is hereby acknowledged, Landlord and Tenant do hereby covenant, contract, and agree as follows:
1. Grant of Lease: Landlord leases to Tenant, who rents from Landlord, the personal residence located in __________________ County, Kentucky, at the address of: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________, including the following items of personal property:________________________________________________ ________________________________________________________________________________________________.
2. Nature of Occupancy: The residence shall only be used and occupied by the Tenant’s family members or others listed below:________________________________________________________________________________________________________________________________________________________________________________________________.
3. Term of Lease: This Lease begins on the ____ day of ___________________, 20____, and ends on the ____ day of _________________, 20____, unless renewed or extended as provided herein.
4. Security Deposit: Upon signing this Lease, Tenant must deposit $___________ with Landlord as a security deposit for cleaning and repairs upon Lease termination. Tenant is liable for any damages beyond normal wear and tear. The security deposit will not earn interest and cannot be used for rent. If the Landlord sells the property, they can transfer the security deposit to the new owner. The security deposit must be held in a non-interest bearing account, and the Tenant must be informed of the account details. The Tenant has the right to inspect the premises for existing damages before occupancy. At the end of the Lease, the Landlord will inspect the property and provide a list of any new damages. The Tenant can also inspect this list. If the Tenant does not respond to the Landlord’s notification of any refund due within sixty days, they forfeit the deposit. If they respond within that time, the Landlord must mail the refund promptly.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.