This Lease is made and entered this ___________ day of ________ , __________ between ___________________
(hereinafter "Landlord") and __________________, (hereinafter "Tenant") in consideration of the mutual covenants herein set forth. Landlord leases to Tenant, and Tenant leases from Landlord, the Property described as follows:
All that tract of land lying and being in Land Lot ___________ of the District ___________, Section of __________ County, Georgia, and being known as Address __________, City __________, Georgia Zip Code _________, according to the present system of numbering in and around this area, being more particularly described as Lot _______, Block ________, Unit _________, Phase/Section ______________ of subdivision, as recorded in Plat Book __________, Page _________, ____________ County, Georgia. records together with all fixtures, landscaping, improvements, and appurtenances, all being hereinafter collectively referred to as the "Property ." The full legal description of the Property is the same as is recorded with the Clerk of the Superior Court of the county in which the Property is located and is made a part of this Lease by reference.
1. TERM. The initial term of this Lease shall be _________ months ________ days beginning on ___________, _____ ("Commencement Date"), and ending on __________, ________. If the Commencement Date begins on the 2nd day through the 19th day of any month, prorated rent shall be paid at the time of leasing the Property, If the initial term begins on the 20th through the last day of the month, prorated rent shall be paid together with the first full month's rent in advance.
2. POSSESSION. If Landlord is unable to deliver possession of the Property on the Commencement Date, rent shall be abated on a daily basis until possession is granted. If possession is not granted within seven (7) days of the Commencement Date, Tenant may void this Lease and be refunded any deposits paid to Landlord. Landlord shall not be liable for delays in the delivery of possession to Tenant.
3. RENT. Tenant shall pay rent in advance in the sum of ___________________ Dollars ($_______ ) per month on the first day of each month during the Lease Term, at the address set forth herein below (or at such other place as may be designated from time to time by Landlord in writing). Mailing the rent does not constitute payment. Rent must be received by the first of the month at the address set forth in Paragraph 18 herein to be considered paid.
4. LATE PAYMENT: SERVICE CHARGE FOR RETURNED CHECKS. Landlord has no obligation to accept any rent not received by the fifth of the month. If Landlord chooses to accept late payment, payment must be in the form of cash, cashier's check or money order and must include a late charge of $________ and, if applicable, a service charge for any returned check of $_________ . Landlord reserves the right to refuse to accept personal checks from Tenant after one or more of Tenant's personal checks have been returned by the bank unpaid.
5. SECURITY DEPOSIT.
B. In the event that Landlord is a real estate Licensee or a Broker managing Landlord's property, or if Landlord owns ten (10) or more properties, the Security Deposit shall be placed in an escrow account. Security Deposit to be placed in _______ account of _____________ at_______________. Interest earned from said account(s), if any, shall accrue to Landlord.
C. The Security Deposit will be returned to Tenant within thirty (30) days after Property is vacated if:
9. EARLY TERMINATION. Provided Tenant is not in default hereunder
at the time of giving notice, has strictly complied with all of the provisions
of this paragraph, and termination is as of the last day of a calendar month,
Tenant may terminate this Lease before the expiration of the original term
10. RENEWAL TERM. Either party may terminate this Lease at the end
of the term by giving the other party thirty (30) days written notice prior
to the end of the term. If neither party gives notice of termination, the
Lease will automatically be extended on a month-to-month basis with all terms
remaining the same. Thereafter, either party may terminate upon 30 days written
notice, except that Landlord reserves the right to increase the amount of
rent upon delivery of written notice to Tenant 30 days prior to the effective
date of any increases.
Tenant Initials _____
11. SUBLET AND ASSIGNMENT. Tenant may not sublet the Property or assign this Lease without the written consent of Landlord. This Lease shall create the relationship of Landlord and Tenant between the parties hereto and no estate shall pass out of Landlord. Tenant has only a usufruct not subject to levy and sale.
12. RIGHT OF ACCESS, SIGNAGE. Landlord and/or Landlord's Agent shall have the right of access to the Property for inspection, repairs and maintenance during reasonable hours. In the case of emergency, Landlord may enter the Property at any time to protect life and prevent damage to the Property . Landlord and/or Landlord's Agent may place a "for rent" or "for sale" sign in the yard thirty (30) days prior to the end of the Lease term. Landlord and/or Landlord's Agent may install a lockbox and show the Property to prospective tenants or purchasers during the last thirty (30) days of the Lease term during reasonable hours. In the event a lockbox is installed, Tenant shall secure jewelry and other valuables and agrees to hold Landlord and/or Landlord's Agent harmless for any loss thereof.
13. USE. The Property shall be used for residential purposes only and shall be occupied only by the _____ (#) persons listed as follows: ____________________________________________________________.
The Property shall be used so as to comply with all federal, state, county, and municipal laws and ordinances and any applicable declaration of condominium; declaration of covenants, conditions, and restrictions; bylaws; and rules and regulations. Tenant shall not use or permit the Property to be used for any disorderly or unlawful purpose, including but not limited to: illegal drug trafficking and/or other violations of any controlled substance laws. Landlord may promptly report any suspicious activities to, and cooperate fully with, the appropriate authorities without being deemed to invade the Tenant's privacy, and Tenant waives any claim for such against Landlord.
14. PROPERTY LOSS. Tenant shall be responsible to insure Tenant's personal property against loss or damage. Landlord shall not be liable for any damage to Tenant's property , unless such damage is caused by Landlord's gross negligence. Tenant for himself and I his family waives all exemptions or benefits under the homestead laws of Georgia.
Applicable Lawn and Exterior care to be provided by Tenant:
( ) As stated in subparagraph (I) above.
( ) Partial: _______________________________________
( ) None (Care provided by:_________________________)
21. UTILITIES. Applicable utilities and/or service to be paid by
( ) Water
( ) Electricity
( ) Garbage
( ) Telephone
( ) Sewer
( ) Natural Gas
( ) Cable Television
( ) Other
Landlord may, at landlord's option, pay utilities and be reimbursed by Tenant
along with next month's rent.
22. ABANDONMENT. If Tenant removes or attempts to remove personal property from the Property other than in the usual course of continuing occupancy, without having first paid Landlord all monies due, the Property may be considered abandoned, and Landlord shall have the right, without notice, to store or dispose of any personal property left on the Property by Tenant. Landlord shall also have the right to store or dispose of any of Tenant's personal property remaining on the Property after the termination of this Lease. Any such personal property shall become Landlord's personal property .
23. DISCLAIMER. Tenant and Landlord acknowledge that they have not relied upon any advice, representations or statements of Brokers and waive and shall not assert any claims against Brokers involving the same. Tenant and Landlord agree that Brokers shall not be responsible to advise Tenant and Landlord on any matter, including but not limited to the following: any matter which could have been revealed through a survey, title search or inspection of the Property; the condition of the Property , any portion thereof, or any item therein; building products and construction techniques; the necessity or cost of any repairs to the Property; hazardous or toxic materials; termites and other wood destroying organisms; the tax or legal consequences of this transaction; the availability and cost of utilities or community amenities; the appraised or future value of the Property; any condition(s) existing off the Property which may affect the Property; the terms, conditions and availability of financing; and the uses and zoning of the Property whether permitted or proposed. Tenant and Landlord acknowledge that Brokers are not experts with respect to the above matters and that, if any of these matters or any other matters are of concern to them, they shall seek independent expert advice relative thereto.
24. OTHER PROVISIONS.
A. Time of Essence. Time is of the essence of this Lease.
B. No Waiver. Any failure of Landlord to insist upon the strict and prompt performance of any covenants or conditions of this Lease or any of the rules and regulations described in the "rules and regulations" paragraph hereof shall not operate as a waiver of any such violation or of Landlord's right to insist on prompt compliance in the future of such covenant or condition, and shall not prevent a subsequent action by Landlord for any such violation. Acceptance by Landlord of any late payment of rent or additional rent shall not constitute a waiver of any rights of Landlord, including, without limitation, the right to terminate this Lease as herein provided. The receipt of any rent or additional rent by Landlord with the knowledge of such breach shall not operate as a waiver of such breach. No provision, covenant or condition of this Lease may be waived by Landlord unless such waiver is in writing and signed by Landlord.
C. Definitions. "Landlord" as used in this Lease shall include its representatives, heirs, agents, assigns, and successors in title to Property. "Tenant" shall include his heirs and representatives. The terms Landlord and Tenant include singular and plural, corporation, partnership or individual, as may fit the particular parties.
D. Entire Agreement. This Lease and any attached addenda constitute the entire Agreement between the parties and no oral statement or amendment not reduced to writing and signed by both parties shall be binding.
25. BROKERAGE AND AGENCY. The Brokers listed below have performed a valuable service in this transaction and are made parties hereunder to enforce their commission rights. Payment of commission to a Broker shall not create an agency or subagency relationship between Leasing Broker and either Landlord or Landlord's Broker. Landlord agrees to pay the Broker listed below and representing Landlord to lease and/or manage the Property ("Listing Broker") a commission (which commission has already been negotiated in a separate agreement) of $______ or _____% of the Lease amount, which shall be due and payable upon occupancy. In the event the Lease is made in cooperation with another Broker listed below as the Leasing Broker, the Listing Broker shall receive _____% of the total real estate commission paid hereunder and the Leasing Broker shall receive % of the total real estate commission paid hereunder. In the event Tenant and/or Landlord fail or refuse to perform any of their obligations herein, the non-performing party shall immediately pay the Listing Broker and the Leasing Broker their full commissions. The Listing Broker and Leasing Broker may jointly or independently pursue the non-performing party for that portion of the commission which they would have otherwise received under the Lease. No Brokers shall owe any duty to Tenant or Landlord greater than is set forth in the Brokerage Relationships in Real Estate Transactions Act, O.C.G.A. § 10-6A-1, et seq. Landlord and Tenant agree to indemnify and hold Broker harmless against all claims, damages, losses, expenses and/or liabilities arising out of or related to this transaction except those arising from Broker's intentional wrongful acts. Landlord and Tenant acknowledge that if they have entered into a client relationship with a Broker, that Broker has disclosed on a prior basis: ( 1) the types of brokerage relationships offered by the Broker; (2) any other brokerage relationship which would conflict with the client's interest; and (3) the compensation of Broker and whether commissions will be shared with other Brokers. In this Lease, the term "Broker" shall mean a licensed Georgia real estate broker and the broker's affiliated licensees. In this transaction, the relationship of the Listing Broker and the Leasing Broker to the Tenant and Landlord is as specified below:
Listing Broker: [Select A or B below. The section not marked shall not be a part of this Lease]
( ) A. LANDLORD AGENCY: Listing Broker has entered into a client relationship with only Landlord.
( ) B. DUAL AGENCY: Listing Broker has entered into a client relationship with Tenant and Landlord.
Leasing Broker: [Select A, B, C, D or E below. The sections not marked shall not be a part of this Lease]
( ) A. TENANT AGENCY: Leasing Broker has entered into a client relationship with only Tenant.
( ) B. DUAL AGENCY: Leasing Broker has entered into a client relationship with Tenant and Landlord.
( ) C. LANDLORD AGENCY: Leasing Broker has entered into a client relationship with only Landlord.
( ) D. TRANSACTION BROKERAGE: Leasing Broker has not entered into a client relationship with Tenant or Landlord.
( ) E. LANDLORD SUBAGENCY: Listing Broker has entered into a client relationship with Landlord and has appointed Leasing Broker as its subagent.
If dual agency or transaction brokerage is selected above, the applicable disclosure below is incorporated herein. Otherwise, the disclosure(s) is not apart of this Lease.
Dual Agency Disclosure
Landlord and Tenant are aware of Broker's dual agency role and have determined that the benefits of Broker's role outweigh the detriments. Landlord and Tenant have been advised: (1) that in this transaction the Broker has acted as a dual agent; (2) that the Broker represents two clients whose interests may be different or adverse: (3) that as a dual agent, Broker may not disclose information made confidential by request unless it is allowed or required to be disclosed; and (4) that the client does not have to consent to dual agency. The clients referenced above have voluntarily consented to dual agency and have read and understood their brokerage engagement agreements. The Broker and/or affiliated licensees have no material relationship with either client or the nature of it is as follows: ______________________________________
A material relationship means one actually known of a personal, familial or business nature between the broker and affiliated licensees and a client which would impair their ability to exercise fair judgment relative to another client.
Affiliated Licensee Assignment: The Broker has assigned _________________ (Leasing Licensee ) to work with Tenant and _________________ (Listing Licensee) to work with Landlord. Each shall be deemed to act for and represent exclusively the party to whom each has been assigned.
Transaction Brokerage Disclosure
Landlord and Tenant are aware that if they are not represented by a Broker they are each solely responsible for protecting their own interests. Landlord and Tenant acknowledge that the Broker may perform ministerial acts for either party as a transaction Broker.
26. MILITARY ACTIVATION. If Tenant is called to active duty during the term of this Lease, Tenant shall present to Landlord official orders activating Tenant; then and in that event, this Lease shall be controlled by the Soldiers' and Sailors' Civil Relief Act of 1940 as amended in 50 U.S.C.A. §§ 50-591.
27 . SPECIAL STIPULATIONS. The following Special Stipulations, if conflicting with any preceding paragraph, shall control.
O (Mark box if additional pages are attached.)
IN WITNESS WHEREOF, the parties hereto have set their hand and seal the day and year first written above.
____________________( _____________ )
Leasing Broker MLS Office Code
Broker or Broker's Affiliated Licensee
Print or Type Name: __________________
Bus. Phone: __________ FAX# _________
_______________________ ( __________ )
Listing Broker MLS Office Code I
Multiple Listing # ______________________
Broker or Broker's Affiliated Licensee
Print or Type Name: ____________________
Bus. Phone: _____________FAX # ________
LANDLORD or Authorized Agent for Landlord
LANDLORD or Authorized Agent for Landlord
TELEPHONE # for Emergency Repairs
Landlord's address for notices and mailing of rent:
________________________, Georgia ______
Copyright ( 1999 by Georgia Association of REALTORS@, Inc.
F40, Lease for Residential Property