Lease with Option to Purchase for Virginia

Lease with Option to Purchase for Virginia



This LEASE WITH OPTION TO PURCHASE (hereinafter referred to as the "Agreement") is entered into on ______________________, by and between _____________ (hereinafter "Landlord") and (hereinafter "Tenant") (Landlord and Tenant are each a "Party" to this Agreement and are collectively the "Parties").

WITNESSETH:

WHEREAS, Landlord manages certain real property situated at _____________, _____________, _____________ _____________ (hereinafter referred to as the "Premises"). Landlord's business address is _____________, _____________, _____________ _____________;

WHEREAS, Landlord desires to rent or lease the Premises to Tenant upon the terms and conditions as contained herein; and

WHEREAS, Tenant desires to rent or lease the Premises from Landlord on the terms and conditions as contained herein;

NOW, THEREFORE, for and in consideration of the covenants and obligations contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto hereby agree as follows:

  1. TERM. This Agreement between Landlord and Tenant is for the renting or leasing of the above-described Premises together with any fixtures, appliances, furniture, furnishings, and personal property not owned by Tenant that is upon or in the Premises set forth or otherwise referred to in Schedule A, attached hereto and hereby incorporated into this Agreement (such fixtures, appliances, furniture, furnishings, and personal property, not owned by Tenant, collectively the "Furnishings"), for a term beginning on _____________ and ending at 11:59 PM on _____________.
  2. RENT. Tenant agrees to pay Landlord rent in the amount of due The first rental payment will be due on _____________. The total rent due for the entire term of this Agreement is . All rental payments will be made as set forth below on or before the due date and without notice, demand, setoff, or abatement. Please be advised that any payments lost in the mail or otherwise late by no fault of Landlord will be treated as if unpaid until received. Landlord will receive any payments due under this Agreement at the following location(s):

  3. PAYMENT METHODS ACCEPTED. Landlord reserves the right to change the payment methods accepted at any time by giving notice to Tenant. Landlord accepts payment of any amounts that may become due under this Agreement by the following methods of payment:
  4. OPTION TO PURCHASE. As consideration for entering into this Agreement, Landlord grants Tenant an exclusive option to purchase the Premises from Landlord according to the terms and conditions herein (the "Purchase Option"). Tenant may not assign or otherwise transfer the Purchase Option without the expressed written permission of Landlord. Money paid for the Purchase Option shall only be refunded in the event that Landlord is unable to convey good and marketable title. Tenant's Purchase Option shall remain exclusive and in effect for as long as Tenant continues to renew this Agreement or otherwise continues to occupy the Premises.
  5. RENT-TO-OWN. Landlord agrees to credit _____________% of each rental payment received toward the purchase of the Premises. The total amount credited shall be referred to as the "Rent-to-Own Account." No portion of any rental payments paid late will be credited toward the Rent-to-Own Account. Tenant will have the right to apply the amount in the Rent-to-Own Account toward purchase of the Premises only once Tenant has been a resident for a minimum of _____________ months. Money equivalent to the Rent-to-Own Account is to be used solely for the purchase of the Premises and shall be credited or paid out at the time of real estate closing.
    1. PURCHASE OF THE PREMISES. In the event that Tenant timely elects to exercise the Purchase Option, the purchase price of the Premises shall be . Interest shall accrue on the unpaid principal balance of the purchase price at a rate of _____________% per annum, with the amounts paid into the Rent-to-Own Account being credited against the unpaid principal balance as they accumulate. In addition, any unpaid obligation under the terms of this Agreement still due to Landlord at closing shall be added to the principal balance of the purchase price, with interest to accrue thereon from the date of closing at the rate specified above.
    2. PRIOR SALE BY LANDLORD. Landlord may sell the Premises to a new owner during the term of this Agreement only on the condition that such new owner honors the terms of this Agreement, including, but not limited to, Tenant's Purchase Option as well as the then-existing balance in Tenant's Rent-to-Own Account.
    3. CLOSING. Landlord agrees to convey good and marketable title upon closing and to cure any deficiency at or before closing unless Tenant agrees otherwise. The existence of easements and restrictions of record or encumbrances resulting from the acts or omissions of Tenant shall not prevent Landlord from conveying good and marketable title. If Landlord is otherwise unable to convey good and marketable title, Tenant shall be entitled to terminate this Agreement, vacate the Premises, and recover money paid for the Purchase Option.
  6. KEYS. If Tenant loses keys or is locked out and re-keying the locks becomes necessary, Tenant is responsible for covering the costs of replacement keys or re-keying the locks unless Landlord agrees otherwise.
  7. PARKING. Tenant may only park a vehicle that is registered in Tenant's name. Tenant may not assign, sub-let, or allow any other person to use this space for more than one day. Tenant may only use this space for parking passenger automobiles. All vehicles kept on the Premises must be operational and have the current registration, tags, decals, and licenses required by local and state laws. Any vehicle not meeting these requirements, or any unauthorized vehicles, will be removed at Tenant's expense after being given 72 hours' notice. No other type of vehicle or item may be stored in this space for more than one day without prior written consent of Landlord. Tenant may not wash, repair, or paint vehicles on the Premises without the prior written consent of Landlord. Any vehicle that is leaking any substance must not be parked anywhere on the Premises.
  8. UTILITIES AND SERVICES PROVIDED; INTERRUPTIONS. Tenant is responsible for arranging and paying for all utility services and other services required on the Premises. Within three business days after the beginning of the term, Tenant must arrange for such utilities or services and for billing directly to Tenant. The Party responsible for paying any particular utility or service will not be liable for failure to furnish the utility or service when the cause of such failure is beyond that Party's control. Should Landlord cause an interruption in water, sewer, gas, or electric, or an interference with the restoration of such utilities, for a period lasting beyond 48 hours, rent will be abated for each day the interruption or interference continues beyond such 48-hour period.
  9. USE OF PREMISES. The Premises and Furnishings shall be used and occupied by Tenant and Tenant's immediate family exclusively, as a private single family dwelling, and no part of the Premises or Furnishings shall be used at any time during the term of this Agreement by Tenant for the purpose of carrying on any business, profession, or trade of any kind, or for any purpose other than as a private single family dwelling, without the prior written consent of Landlord. Tenant shall not allow any person who is not a Tenant or immediate family member of a Tenant to stay upon the Premises more than 10 days per month without written consent of Landlord. Tenant shall not allow others to occupy or use the Premises, Furnishings, or any part thereof for any purposes other than as herein limited, nor for any purpose deemed unlawful, disreputable, or extra hazardous, on account of fire or other casualty. Tenant shall comply with any and all laws, ordinances, rules, and orders of any and all governmental or quasi-governmental authorities affecting the cleanliness, use, occupancy, and preservation of the Premises and its Furnishings, and shall promptly comply with all orders, regulations, requirements, and directives of the Board of Fire Underwriters or similar authority and of any insurance companies which have issued or are about to issue policies of insurance covering the said Premises and its contents, for the prevention of fire or other casualty, damage, or injury, at Tenant's own cost and expense. Tenant is responsible for contacting Landlord, local authorities, a licensed attorney, or the HOA regarding any laws and regulations that they may have questions about.
  10. CONDITION OF PREMISES. Tenant stipulates, represents, and warrants that Tenant has examined the Premises and Furnishings, and that the Premises and Furnishings are at the time of this Agreement in good order, repair, and in a safe, clean, and tenantable condition. Tenant will give Landlord written notice, including photographic and/or video evidence, within five days after the beginning of the agreement of any portion of the Premises or Furnishings found to not be in such good condition. Landlord reserves the option of incorporating a Move-In/Move-Out Inspection Checklist (the "Checklist") (see Schedule C) within this timeframe to serve as evidence of the condition of the Premises at move-in and move-out.
  11. ASSIGNMENT, SUB-LETTING, AND RELEASE. Tenant shall not assign this Agreement or sub-let or grant any license to use the Premises or any part thereof without the prior written consent of Landlord. Consent by Landlord to one such assignment, sub-letting, or license shall not be deemed to be consent to any subsequent assignment, sub-letting, or license. An assignment, sub-letting, or license without the prior written consent of Landlord or an assignment or sub-letting by operation of law shall be absolutely null and void and shall, at Landlord's option, terminate this Agreement.
  12. ALTERATIONS AND IMPROVEMENTS. Tenant shall make no alterations to the buildings or improvements on the Premises or its Furnishings or construct any building or make any other improvements on the Premises without the prior written consent of Landlord. Any and all alterations, changes, and/or improvements built, constructed, or placed on the Premises by Tenant shall, unless otherwise provided by written agreement between Landlord and Tenant, be and become the property of Landlord and remain on the Premises at the expiration or earlier termination of this Agreement.
  13. NON-DELIVERY OF POSSESSION. In the event Landlord cannot deliver possession of the Premises to Tenant upon the commencement of the rental term, through no fault of Landlord or its agents, then Landlord or its agents shall have no liability, but the rental payments herein provided shall abate until possession is given. Landlord or its agents shall have 30 days to give possession, and if possession is tendered within such time, Tenant agrees to accept the demised Premises and pay the rent due starting from the date possession is tendered. In the event that possession cannot be delivered within such time, through no fault of Landlord or its agents, then this Agreement and all rights hereunder shall terminate.
  14. HAZARDOUS MATERIALS. Tenant shall not keep on the Premises any item of a dangerous, flammable, or explosive character that might unreasonably increase the danger of fire or explosion on the Premises or that might be considered hazardous or extra hazardous by any responsible insurance company.
  15. APPLIANCES. In the event that appliances fail to function not due to Tenant's own misuse, Landlord is not liable for the maintenance, repair, or damages, with the exception of the following appliances, if provided by Landlord: refrigerator, microwave, dishwasher, washer/dryer, and heating and air conditioning units.
  16. MAINTENANCE AND REPAIR; TENANT RESPONSIBILITIES. Unless otherwise stated, Tenant will, at its sole expense, keep and maintain the Premises and Furnishings in good and sanitary condition and repair during this Agreement and any renewal thereof. Tenant's responsibilities include, without limitation, the following items, and any departure therefrom requires Landlord's prior written consent:
    1. Obeying all rules and regulations posted by Landlord regarding the use and care of the Premises, Furnishings, and Common Areas;
    2. Not obstructing the driveways, sidewalks, courts, entry ways, stairs and/or halls, which may be used for the purposes of ingress and egress only;
    3. Not have any of the following prohibited items on the Premises or Property: illegal firearms or weapons, illegal drugs, hazardous or toxic chemicals or materials, or other items prohibited by law.
    4. Keeping all windows, glass, window coverings, doors, locks and hardware in good, clean order and repair;
    5. Not building any fires or using grills on the Premises except in areas designated for such purposes by Landlord;
    6. Not obstructing or covering the windows or doors;
    7. Not tampering or disabling any smoke detectors installed on the Premises, and contacting Landlord for instructions on how to proceed should any smoke detectors become disabled or need new batteries;
    8. Not leaving windows or doors in an open position during any inclement weather;
    9. Not hanging any laundry, clothing, sheets, etc. from any window, rail, porch or balcony nor drying any of the same within any yard area or space;
    10. Not altering, rekeying, or installing any locks on the Premises, or painting or wallpapering the Premises;
    11. Not using or possessing any liquid-filled furniture, including, but not limited to, waterbeds and aquariums, on the Premises;
    12. Not permitting waste matter of any kind to accumulate on the Premises or in the Common Areas;
    13. Not placing placards, signs, or other exhibits in windows or any other place where they can be viewed by other tenants or by the general public;
    14. Keeping all air conditioning filters on the Premises clean and free from dirt and debris;
    15. Keeping all lavatories, sinks, toilets, and all other water and plumbing apparatus in good order and repair and using the same only for the purposes for which they were constructed. Tenant may not allow any sweepings, rubbish, sand, rags, ashes or other such foreign substances to be thrown or deposited therein. Any damage to any such apparatus and the cost of clearing stopped plumbing resulting from misuse will be borne by Tenant;
    16. Maintaining order at all times and at all places on the Premises and Common Areas, and not making or permitting others to make any loud or improper noises, disturb other tenants, or otherwise create a nuisance by interfering with the quiet enjoyment of other tenants or those in the surrounding area;
    17. Notifying Landlord of any damage or of any situation that may significantly interfere with the normal use of the Premises or to any Furnishings or other property supplied by Landlord;
    18. Keeping all radios, television sets, stereos, etc., turned down to a level of sound that does not annoy or interfere with other tenants or persons on adjacent properties;
    19. Not causing Common Areas to become disorderly or unkempt;
    20. Not causing harm to the Premises, negligently depleting the Premises' resources, or otherwise committing waste on the Premises;
    21. Depositing all trash, garbage, rubbish, or refuse in the locations provided therefore and not allowing any trash, garbage, rubbish, or refuse to be deposited or permitted to stand on the exterior of any building or within the Common Areas;
    22. Making all requests concerning security devices in writing; and
    23. Abiding by any and all rules and regulations affecting the Premises or the Common Areas appurtenant thereto that may be adopted or promulgated by Landlord or other entity having authority over the Property.
  17. MAINTENANCE AND REPAIR; LANDLORD RESPONSIBILITIES. In addition to any responsibilities required by law, Landlord agrees to the following responsibilities:
    1. Maintain the Premises in a safe and habitable condition, including, but not limited to, repairing any structural damages or weaknesses not due to Tenant's negligent or intentional acts;
    2. At Landlord's sole expense, make any repairs required in order for the Premises and its Furnishings to be in compliance with applicable housing codes, unless the repairs were necessitated by the negligence or intentional acts of Tenant. If Tenant believes repairs are necessary, Tenant must contact Landlord and request such repairs;
    3. Maintain, repair, and replace, whenever necessary, the heating, plumbing, air conditioning, and electrical systems of the Common Areas;
    4. Maintain the general upkeep of the Common Areas and exterior surfaces of the buildings, except as otherwise provided herein. Such upkeep of the Common Areas will include, without limitation, maintaining adequate lighting, keeping walkways clear of debris and graffiti, maintaining parking lines and signage, and landscaping; and
    5. Make a good faith effort to address any of Tenant's concerns about the neatness or cleanliness of Common Areas and the noise level and behavior of any other tenants on the Property.
  18. TENANT'S RIGHT TO WITHHOLD RENT; OTHER REMEDIES. Where a repair is the responsibility of Landlord, Tenant must notify Landlord with a written notice stating what item needs servicing or repair. Tenant must give Landlord a reasonable opportunity to service or repair said item. Tenant acknowledges that rent will not be withheld unless a written notice has been served on Landlord at the appropriate location giving Landlord a reasonable time to fix said item. Under no circumstances may Tenant withhold rent unless said item constitutes a substantial breach of the warranty of habitability. Reasonable notice shall in no case be less than 30 days, but in emergency situations, Tenant shall provide notice as soon as possible. Tenant may have other remedies available when Landlord fails to repair a problem that materially affects the physical health or safety of an ordinary tenant. These rights include the right to repair and deduct; terminate the Agreement; and obtain a judicial order that Landlord make the repair, reduce the rent, pay Tenant damages (including a civil penalty), and pay Tenant's court and attorney's fees.
  19. EXCESSIVE DAMAGE TO PREMISES. Excessive damage to the Premises or Furnishings by Tenant, invitees, agents, or guests shall be grounds for Landlord to evict Tenant. In the event the Premises or Furnishings are destroyed or rendered wholly unfit for carrying on Tenant's business operations by fire, storm, earthquake, or other casualty not caused by the negligence of Tenant, Landlord shall commence repairs within 30 days of receiving notice of such damage, returning the Premises and Furnishings to the condition they were in prior to the damage occurring. All repairs shall be completed within 180 days of commencement if feasible. If Landlord fails to complete repairs within 180 days, then Tenant may choose to terminate the Agreement. Rent shall abate from the date of such destruction or damage until repairs are complete. The rental payments required herein shall then be accounted for by and between Landlord and Tenant up to the time of such injury or destruction of the Premises or Furnishings, with Tenant paying up to such date and Landlord refunding payments collected beyond such date. Should a portion of the Premises thereby be rendered uninhabitable, Landlord shall have the option of either repairing such injured or damaged portion or terminating this Agreement. In the event that Landlord exercises its right to repair such uninhabitable portion, the rental payments due shall abate in the proportion that the injured parts bears to the whole Premises, and such part so injured shall be restored by Landlord as speedily as practicable, after which the full rent shall recommence and the Agreement continue according to its terms.
  20. OBLIGATION TO NOTIFY. Upon receiving notice thereof, Tenant will immediately notify Landlord of any defects, accidents, events, circumstances, conditions, or hazards on the Premises or any systems thereof that have caused, are causing, or may potentially cause injury or damage to the Premises or any person or property located therein or nearby. Tenant will notify Landlord by all instantaneous methods of communication available, including phone, email, mobile texting, fax, in person, or otherwise.
  21. CONSTRUCTIVE EVICTION. When conditions beyond Tenant's control cause the Premises to become legally uninhabitable, and when Landlord is responsible for remedying those conditions but does not do so within a reasonable time after notification by Tenant, Tenant may vacate the Premises, terminate this Agreement, and withhold future rent.
  22. INSURANCE. It is acknowledged that, unless otherwise noted, Landlord does not maintain insurance to cover Tenant's personal property damage or loss caused by fire, theft, rain, water overflow/leakage, acts of God, and/or any other causes. Landlord is not responsible for any loss or damage to property owned by Tenant or Tenant's guests or invitees unless resulting from Landlord's intentional or negligent acts. It is acknowledged that Landlord highly recommends that Tenant carry renter's insurance for fire, extended coverage, and liability to cover accidental injury and damage or loss of personal property and/or vehicle due to fire or theft.
  23. ENTRY OF PREMISES. Landlord and Landlord's agents shall have the right at all reasonable times during the term of this Agreement, and any renewal thereof, to enter the Premises for the purpose of inspecting the Premises and all buildings and improvements thereon; to show the Premises to prospective residents, purchasers, or lenders; and for the purposes of making any repairs, additions, or alterations as may be deemed appropriate by Landlord for the preservation or improvement of the Premises, Furnishings, or rental building and property. Landlord and its agents shall further have the right to exhibit the Premises and to display the usual "for sale," "for rent," or "vacancy" signs on the Premises at any time within 45 days before the expiration of this Agreement. The right of entry shall likewise exist for the purpose of removing placards, signs, fixtures, alterations, or additions that do not conform to this Agreement or to any restrictions, rules, or regulations affecting the Premises. Tenant agrees to make the Premises available to Landlord or Landlord's agents to inspect, to make repairs or improvements, to supply agreed services, to show the Premises to prospective buyers or tenants, to address an emergency, or as provided otherwise herein. At all times Landlord shall be provided with the keys, codes, or other items necessary for unlocking all locks and devices permitting entry. Tenant further agrees to seek permission from Landlord in writing if Tenant seeks to install any burglar alarm system and, if granted, to provide instructions on how to disarm such alarm in case of emergency entry.
    1. NOTICE REQUIRED. No advance notice is required for entry if Tenant requests maintenance, repairs, or improvements. In the event that Landlord reasonably believes that an emergency exists, such as a fire or serious damage or serious danger to the continued welfare of the Premises or Furnishings, or reasonably believes that the Premises has been abandoned, Landlord will not be required to provide Tenant with advanced notice before entering the property. In all other situations, Landlord is required to provide reasonable written notice in compliance with state law prior to entry.
  24. SUBORDINATION OF AGREEMENT. This Agreement and Tenant's interest hereunder are, and shall be, subordinate, junior, and inferior to any and all mortgages, liens, or encumbrances now or hereafter placed on the Premises or Furnishings by Landlord; all advances made under any such mortgages, liens, or encumbrances (including, but not limited to, future advances); the interest payable on such mortgages, liens, or encumbrances; and any and all renewals, extensions, or modifications of such mortgages, liens or encumbrances.
  25. TERMINATION; TENANT'S HOLD OVER. The tenancy will automatically terminate at the expiration of the term unless the Parties agree otherwise. If Tenant remains in possession of the Premises without Landlord's consent after the natural expiration of this Agreement, then Landlord may evict Tenant by providing the appropriate notice and taking the necessary steps according to state law. If Tenant remains in possession of the Premises with Landlord's consent after the natural expiration of this Agreement but without signing a new agreement for the Premises with Landlord, a month-to-month tenancy will be automatically created between Landlord and Tenant that will be subject to all of the terms and conditions hereof. Landlord will give Tenant 30 days' notice if there will be any change in the rental payment amount or frequency in the event of a periodic tenancy. Tenant and Landlord may not terminate this Agreement without 30 days' written notice if this becomes a month-to-month tenancy. Failure of Tenant to provide appropriate written notice to terminate a month-to-month tenancy will result in Tenant's continuing obligation under this Agreement for up to 30 days.
  26. SURRENDER OF PREMISES. Upon the termination or expiration of the Agreement, Tenant shall surrender the Premises and Furnishings in the same state and condition as they were at the commencement of this Agreement, except that Tenant shall not be responsible for damage due to reasonable wear and damage by fire, the elements, casualty, or other cause not due to the misuse or neglect by Tenant or Tenant's invitees, visitors, licensees, or subtenants. If Tenant changed the color of the walls or made other such cosmetic changes, then Tenant shall return the appearance of the Premises and Furnishings to the same state and condition as they were at the commencement of this Agreement unless otherwise agreed in writing. If any of Tenant's property remains on the Premises after the last day of the term of this Agreement, then such property shall be considered abandoned unless Tenant received the prior written consent from Landlord to leave such property. Landlord may remove all abandoned property at Tenant's expense.
  27. RENT AND OTHER ADJUSTMENTS TO THE AGREEMENT. If Landlord pays a local tax based on rent and that tax increases, Landlord may pass through the increase by increasing the rent upon 30 days' notice to Tenant, but not before the new tax becomes effective. Landlord reserves the right to adjust the amount of the rental payments or any terms under this Agreement at the expiration of the rental term by serving Tenant with written notice by certified mail. Landlord may make a corresponding adjustment in the security deposit after a rent increase.
  28. QUIET ENJOYMENT. If Tenant remains in compliance with the terms of this Agreement, Landlord covenants that Tenant will peacefully and quietly have, hold, and enjoy the Premises and Furnishings. Note: Landlord promises to notify Tenant in the event that Landlord has applied for a permit to demolish the rental unit or in the event there are outstanding inspection orders, condemnation orders, foreclosure proceedings, or declarations that the Property is unfit.
  29. EMINENT DOMAIN. If Premises, any part thereof, or any part of the Common Areas that substantially impact Tenant's use of the Premises is permanently taken or condemned for a public or quasi-public use or purpose by any competent authority, this Agreement shall terminate as of the date title vests as a result of the taking. Landlord shall repay Tenant a prorated amount for any rent paid in advance covering the remainder of the period in which the taking occurs.
  30. INDEMNIFICATION. Landlord shall not be liable and Tenant hereby waives all claims against Landlord for any damage to any property or any injury to any person in or about the Premises by or from any cause whatsoever, except to the extent caused by or arising from the gross negligence or willful misconduct of Landlord or its agents, employees, or contractors. Tenant shall protect, indemnify, and hold Landlord's entities harmless from and against any and all loss, claims, liability, or costs (including court costs and attorney's fees) incurred by reason of (a) any damage to any property or any injury to any person occurring in, on, or about the Premises to the extent that such injury or damage shall be caused by or arise from any actual or alleged act, neglect, fault, or omission by or of Tenant, its agents, servants, invitees, or visitors to meet any standards imposed by any duty with respect to the injury or damage; (b) the conduct or management of any work or thing whatsoever done by Tenant in or about the Premises or from transactions of Tenant concerning the Premises or Furnishings; (c) Tenant's failure to comply with any and all governmental laws, ordinances, and regulations applicable to the condition or use of the Premises or Furnishings or its occupancy; or (d) any breach or default on the part of Tenant in the performance of any covenant or agreement on the part of Tenant to be performed pursuant to this Agreement. The provisions of this paragraph shall survive the termination of this Agreement with respect to any claims or liability accruing prior to such termination.
  31. NON-LIABILITY OF LANDLORD. Landlord shall not be liable for any damage or injury that may be sustained by Tenant or any other person as a consequence of the failure, breakage, leakage, or obstruction of the water, plumbing, steam, sewer, waste, or soil pipes, roof, drains, leaders, gutters, valleys, downspouts, or the like, or of the electrical, gas, power conveyor, refrigeration, sprinkler, air conditioning or heating systems, elevators, or hoisting equipment; or by reason of the elements; or resulting from the carelessness, negligence, or improper conduct on the part of any other tenant or of Landlord or Landlord's or this or any other tenant's agents, guests, licensees, invitees, subtenants, assignees, or successors; or attributable to any interference with, interruption of, or failure beyond the control of Landlord, of any services to be furnished or supplied by Landlord.
  32. ATTORNEY'S FEES; JURY TRIALS. In the event any dispute arises between Landlord and Tenant concerning this Agreement that results in litigation, the losing Party shall pay the prevailing Party's reasonable attorney's fees and court costs, which shall be determined by the court and made a part of any judgment.

    It is acknowledged between the Parties that jury trials significantly increase the costs of any litigation between the Parties. It is also acknowledged that jury trials require a longer length of time to adjudicate the controversy. On this basis, all parties waive their rights to have any matter settled by jury trial.
  33. REIMBURSEMENT. If Tenant shall fail or refuse to comply with any of the terms and conditions of this Agreement, Landlord may carry out and perform such conditions at the cost and expense of Tenant, which amounts shall be payable on demand to Landlord. This remedy shall be in addition to such other remedies as Landlord may have by reason of the breach by Tenant of any of the terms and conditions of this Agreement. Upon Landlord's written consent, Tenant may make improvements or repairs to the Premises or Furnishings, or undertake an obligation of Landlord's, and deduct the relevant expenses from rental payments.
  34. LIENS. If any mechanical, construction, or other liens shall be created or filed against the Premises or Furnishings by reason of labor performed or materials furnished for Tenant in the erection, construction, completion, alteration, repair, or addition to any building or improvement, Tenant shall upon demand, at Tenant's own cost and expense, cause such lien or liens to be satisfied and discharged of record together with any lien claims that may have been filed. Failure to do so shall entitle Landlord to resort to such remedies as are provided herein in the case of any default of this Agreement, in addition to such as are permitted by law.
  35. WAIVER OF SUBROGATION RIGHTS. So long as their respective insurers so permit, Tenant and Landlord hereby mutually waive their respective rights of recovery against each other for any loss insured by fire, extended coverage, All Risks, or other now or hereafter existing for the benefit of the respective Party but only to the extent of the net insurance proceeds payable under such policies. Each Party shall obtain any special endorsements required by their insurer to evidence compliance with the aforementioned waiver.
  36. DEFAULT. If Landlord determines that Tenant is in default of this Agreement, Landlord shall provide Tenant with the appropriate written eviction notice as specified under state law and under which Tenant may have a limited number of days to cure the default unless otherwise excepted.
  37. NON-WAIVER OF RIGHTS. Landlord's failure to require compliance with the conditions of this Agreement, or to exercise any right provided herein, shall not be deemed a waiver by Landlord of such condition or right. Landlord's acceptance of rent with knowledge of any default under agreement by Tenant shall not be deemed a waiver of such default, nor shall it limit Landlord's rights with respect to that or any subsequent right.
  38. EXTENDED ABSENCE. Tenant must notify Landlord of an anticipated extended absence from the Premises that will be in excess of seven days; however, the notice may be given as soon as reasonably possible after Tenant knows the absence will exceed seven days.
  39. ABANDONMENT; EVICTION. If at any time during the term of this Agreement Tenant abandons the Premises or any part thereof, or if Tenant is evicted, Tenant will remain liable for any loss of rent for the remainder of the rental term, and Landlord may, at Landlord's option, obtain possession of the Premises in the manner provided by law, and without becoming liable to Tenant for damages or for any payment of any kind whatsoever. At this point, Landlord may, at Landlord's discretion, as agent for Tenant, re-let the Premises, or any part thereof, for the whole or any part of the then unexpired term, and may receive and collect all rent payable by virtue of such re-letting, and, at Landlord's option, hold Tenant liable for any difference between the rent that would have been payable under this Agreement during the balance of the unexpired term if this Agreement had continued in force, and the net rent for such period realized by Landlord by means of such re-letting. If Landlord's right of re-entry is exercised following abandonment of the Premises by Tenant, then Landlord shall consider any personal property belonging to Tenant and left on the Premises to also have been abandoned, in which case Landlord may dispose of all such personal property in any manner Landlord shall deem proper, and Landlord is hereby relieved of all liability for doing so.
  40. BED BUG PREVENTION. This paragraph is meant to provide Tenant with educational information on bed bugs and their prevention. Bed bugs are small insects that feed on human blood. They do not transmit diseases, but their bites can leave itchy, red welts on their victims. Adult bed bugs appear reddish-brown and have a flattened, oval-shaped body about the size of an apple seed. To prevent bed bugs you should always inspect furniture, clothing, and mattresses before bringing them into your home or when returning from a trip and wash them if you think they might have bed bugs. While it helps to cover mattresses in plastic, bed bugs are difficult to remove. Therefore, consult a licensed pest control company to help you remove them. Do not attempt yourself to use any toxic chemicals inside the unit. You should promptly notify Landlord if you think you have a bed bug problem in the unit. Your Landlord can help point you to additional information and help you locate a suitable pest control company. Unless otherwise agreed herein or in writing by Landlord, Tenant agrees to pay the cost of hiring a pest control company for bed bug removal.
  41. VICTIMS OF DOMESTIC VIOLENCE, SEXUAL ASSAULT, OR STALKING. If Tenant or a child living with Tenant has been the victim of domestic violence, sexual assault, or stalking, state law may give Tenant the right to be released from the Agreement upon providing the appropriate notice to Landlord according to state law. A tenant who has a reasonable apprehension of present danger to it or its child of domestic violence, sexual assault, or stalking may have special statutory rights to seek a release of rental obligation.

    Upon notice of such domestic violence, sexual assault, or stalking, Landlord must promptly change Tenant's locks or give Tenant permission to change the locks. If the abuser lives with Tenant as a co-tenant, Tenant must first provide Landlord with a court document that orders the abuser to move out before the locks are changed. Landlord may not allow the abuser into the unit without Tenant's permission, unless a court orders the entry. The abuser is jointly responsible for the rent and any damages to the Premises and Furnishings until that person's tenancy ends. If the abuser is not a co-tenant, Tenant does not need to provide proof to Landlord that the violence occurred. If Landlord refuses or takes too long to change the locks, Tenant can change the locks without Landlord's permission, but Tenant must give a copy of the new key to Landlord. Tenant is ultimately responsible for the cost of changing the locks, but if Tenant cannot initially afford to pay for the lock change, Landlord will pay for the lock change and Tenant must reimburse Landlord within 90 days. If this paragraph applies to you, you should consult Landlord, check your state laws, or speak with a licensed attorney about your options.
  42. RECORDING OF AGREEMENT; CERTIFICATE OF REGISTRATION. Tenant shall not record this Agreement on the Public Records of any public office unless required by law. Unless recording is required by law, in the event that Tenant shall record this Agreement, this Agreement shall, at Landlord's option, terminate immediately and Landlord shall be entitled to all rights and remedies that it has at law or in equity.

    If required by law, Landlord will provide Tenant a copy of Landlord's Certificate of Registration, or any similar registration required, at the execution of this Agreement or commencement of the Agreement. If Landlord files an amended certificate during this Agreement, Landlord shall furnish Tenant with a copy of the amended certificate within any applicable time limit after the amended certificate is filed with the municipal clerk, or with such other municipal official as is designated by the clerk or state or local law.
  43. GOVERNING LAW. This Agreement shall be governed, construed, and interpreted by, through, and under the laws of the State of _____________. The Residential Landlord and Tenant Act, or other applicable landlord-tenant law, is available on the Secretary of State's website or another state government website. Contact Landlord or a licensed attorney if you need help locating applicable laws.
  44. SURVIAL OF TENANT'S OBLIGATIONS. All of Tenant's obligations and covenants arising by or during the term of this Agreement and that are not fulfilled at the termination of this Agreement will survive the termination of this Agreement.
  45. MODIFICATION. The Parties hereby agree that this document contains the entire Agreement between the Parties and this Agreement shall not be modified, changed, altered, or amended in any way except through a written amendment signed by all of the Parties hereto.
  46. NOTICE. Any notice, service of process, or demands required or permitted under this Agreement or under law shall be deemed sufficiently given or served if sent by United States certified mail, return receipt requested, addressed as follows:

    IF TO LANDLORD SEND TO:
    _____________
    _____________
    _____________, _____________ _____________

    IF TO TENANT SEND TO:
    Landlord and Tenant each have the right from time to time to change the place of notice by giving the other Party written notice of this change. Tenant must immediately notify Landlord or manager of the Premises in person or at above address of any emergencies, dangerous conditions, or defects in and about the Premises or Furnishings of which Tenant becomes aware.
  47. TELEPHONE NUMBERS. Tenant agrees to notify Landlord within five calendar days of any change in Tenant's telephone number.
  48. GENERAL TERMS
    1. ENTIRE AGREEMENT. Tenant expressly acknowledges and agrees that Landlord has not made and is not making, and Tenant in executing and delivering this Agreement is not relying upon, any warranties, representations, promises, or statements, except to the extent that they are expressly set forth in this Agreement. It is understood and agreed that all understandings and agreements of the Parties are merged into this Agreement, which alone fully and completely expresses their agreements.
    2. SURVIVAL OF TENANT'S OBLIGATIONS. All of Tenant's obligations and covenants arising by or during the term of this Agreement and that are not fulfilled at the termination of this Agreement will survive the termination of this Agreement.
    3. MODIFICATION. The Parties hereby agree that this document contains the entire agreement between the Parties and this Agreement may not be modified, changed, altered, or amended in any way except through a written amendment signed by all of the Parties hereto.
    4. SEVERABILITY. If any provision of this Agreement or the application thereof is held, for any reason and to any extent, invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities, or circumstances will be affected thereby, but instead must be enforced to the maximum extent permitted by law.
    5. CUMULATIVE RIGHTS. Landlord's and Tenant's rights under this Agreement are cumulative and will not be construed as exclusive of each other unless otherwise required by law.
    6. JOINT AND SEVERAL LIABILITY. If more than one person signs this Agreement, then the liability of the persons so signing will be joint and several. The language "joint and several" means that if more than one person has signed this Agreement, then each of these persons individually and all of these persons collectively are fully responsible for fulfilling all of the obligations of this Agreement, except where expressly otherwise agreed between Landlord and Tenant. For example, one person signing the Agreement may be liable for any or all damages to the Premises or Furnishings, even if caused by another person signing the Agreement, and one person signing the Agreement is liable for the total amount of rent due, even though other persons have also signed the Agreement.
    7. BINDING EFFECT. The covenants, obligations, and conditions herein contained will be binding on and inure to the benefit of the heirs, legal representatives, and assigns of the Parties hereto. The obligations of Landlord under this Agreement will not be binding upon Landlord named herein with respect to any period subsequent to the transfer of Landlord's interest in the Premises as owner or lessee thereof, and in event of such transfer said obligations will thereafter be binding upon each transferee of the interest of Landlord.
    8. GOVERNING LAW. This Agreement will be governed, construed, and interpreted by, through, and under the laws of the State of _____________.
    9. DESCRIPTIVE HEADINGS. The descriptive headings used herein are for convenience of reference only and they are not intended to have any effect whatsoever in determining the rights or obligations of Landlord or Tenant.
    10. CONSTRUCTION. The pronouns used herein include, where appropriate, either gender or both, singular and plural.
    11. SINGULAR/PLURAL. The terms "Landlord" and "Tenant" include the singular as well as the plural.
    12. NON-WAIVER. No indulgence, waiver, election, or non-election by Landlord under this Agreement will affect Tenant's duties and liabilities hereunder.
    13. TIME OF ESSENCE. Time is of the essence for this Agreement.
    14. FORCE MAJEURE. Performance of any obligation under this Agreement by any Party will be excused for the duration of any event or circumstance causing a delay in performance through no fault of the obliged Party, including, without limitation, war; reasonably unforeseen supply shortages; changes in law or regulation; strikes; riots; lock-outs; labor troubles; power outages caused by weather or third parties; and natural events, such as blizzards, torrential rain, or tornadoes.
    15. COUNTERPARTS; ELECTRONIC SIGNATURE. This Agreement may be executed in counterparts, including by fax, email, or other facsimile, each an original but all considered part of one Agreement. Electronic signatures placed upon counterparts of this Agreement by a Party or their approved agent will be considered valid representations of that Party's signature.

Each Party acknowledges that it has read and understood all the terms of this Agreement and hereby agrees to be bound thereby, including any attached schedules, exhibits, or addendums. Tenant further acknowledges that it was under no duress in signing this Agreement and had full opportunity to negotiate the terms contained herein and to consult independent counsel.


LANDLORD:

Sign: ___________________________________ Date: ______________

          _____________

TENANT(S):

SCHEDULE A - FURNISHINGS



This Schedule A - Furnishings is hereby incorporated into the LEASE WITH OPTION TO PURCHASE entered into on ______________________, by and between _____________ (hereinafter "Landlord") and (hereinafter "Tenant") and associated with the real property situated at _____________, _____________, _____________ _____________. All terms used herein are defined according to the Agreement.

The Parties agree that they are not itemizing any Furnishings under this Agreement, and the Parties further agree that any Furnishings that may come under the purview of this Agreement in the future will be expressly agreed upon in a signed writing by the Parties.

LANDLORD:

Sign: ___________________________________ Date: ______________

          _____________

TENANT(S):

SCHEDULE B - LEAD-BASED PAINT DISCLOSURE



This Schedule B - Lead-Based Paint Disclosure is hereby incorporated into the LEASE WITH OPTION TO PURCHASE entered into on ______________________, by and between _____________ (hereinafter "Landlord") and (hereinafter "Tenant") and associated with the real property situated at _____________, _____________, _____________ _____________. All terms used herein are defined according to the Agreement.

WARNING! LEAD FROM PAINT, DUST, AND SOIL CAN BE DANGEROUS IF NOT MANAGED PROPERLY. Penalties for failure to comply with Federal Lead-Based Paint Disclosure Laws include treble (three times) damages, attorney's fees, costs, and a base penalty up to $11,000 (plus adjustment for inflation). The current penalty is up to $16,000 for each violation.

Disclosure for Target Housing Rentals and Leases Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards

Lead Warning Statement

Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, landlords must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Tenants must also receive a federally-approved pamphlet on lead poisoning prevention.

Landlord's Disclosure to Tenant and Real Estate Licensee(s) and Acknowledgment

1. Landlord acknowledges that Landlord has been informed of Landlord's obligations. Landlord is aware that Landlord must retain a copy of this disclosure for not less than three years from the commencement of the leasing or rental period.

2. Presence of lead-based paint and/or lead-based paint hazards (check one box below):

□ Landlord has no knowledge of lead-based paint and/or lead-based paint hazards in the housing.

□ Landlord has knowledge that lead-based paint and/or lead-based paint hazards are present in the housing (explain):
_________________________________________________________________________
_________________________________________________________________________.

3. Records and reports available to Landlord (check one box below):

□ Landlord has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing.

□ Landlord has provided Tenant with all available records and reports pertaining to lead-based paint and/or lead-based paint hazards in the housing (list documents below):
_________________________________________________________________________
_________________________________________________________________________.

Tenant's Acknowledgment

4. Tenant has read the Lead Warning Statement above and understands its contents.

5. Tenant has received the pamphlet "Protect Your Family From Lead in Your Home" or has access to it online at http://www.fsa.usda.gov/Internet/FSA_File/pfflinyhbrochure.pdf.

Real Estate Licensee's Acknowledgment

Each real estate licensee signing below acknowledges receipt of the above Landlord's disclosure, has informed Landlord of Landlord's obligations, and is aware of licensee's responsibility to ensure compliance.

LANDLORD:

Sign: ___________________________________ Date: ______________

          _____________

TENANT(S):

SCHEDULE C - MOVE-IN/MOVE-OUT INSPECTION CHECKLIST



This Schedule C - Move-In/Move-Out Inspection Checklist is hereby incorporated into the LEASE WITH OPTION TO PURCHASE entered into on ______________________, by and between _____________ (hereinafter "Landlord") and (hereinafter "Tenant") and associated with the real property situated at _____________, _____________, _____________ _____________. All terms used herein are defined according to the Agreement.

Move-in inspection date: __________________

Persons present: ___________________________________________________________

Move-out inspection date: __________________

Persons present: ___________________________________________________________

___ (Check here if premises have never been let)

Instructions: Fill this form out at move-in and again at move-out, indicating the condition of everything in and on the Premises. A checkmark indicates an item does not have any damage or has a normal amount of wear and tear. Be sure to write in any details and take photos or videos of anything that has any damage on it. Be as specific as possible so that there will be no question whether any damage occurred.

Item Condition on Move-In
Checkmark = Perfect condition
Condition on Move-Out
Checkmark = Perfect condition
Floors, carpeting, etc.



Walls and ceilings



Doors and locks



Lighting fixtures



Windows, blinds, screens, etc.



Smoke detectors/Other detectors



Fire extinguishers



Fireplaces



Cabinets



Counters and surfaces



Stove/Oven/Range hood



Refrigerator



Dishwasher



Microwave



Sinks and plumbing



Garbage disposal



Bathtubs/Showers



Toilets



Closets, including doors and tracks



Heating system



Air conditioning



Stairs



Hallways



Entry area



Storage areas/Garage



Outdoor areas and fixtures under Tenant's control (not common areas)



Other



Other furnishings



Comments: ________________________________________________________________________

________________________________________________________________________

________________________________________________________________________

________________________________________________________________________

________________________________________________________________________

This Checklist shall serve as conclusive evidence of any damages sustained on the Premises or its Furnishings during Tenant's occupancy. Tenant agrees that Tenant is responsible for any damages found at move-out that were not herein listed on move-in. The Parties agree that if the condition of an item on move-out is worse than the condition noted on move-in, then Tenant shall be responsible for paying Landlord for the cost of any increase in disrepair, deterioration, or malfunction beyond normal wear and tear as defined in the Agreement. To prevent confusion at move-out, Landlord recommends that Tenant send Landlord photographic and/or video evidence within five days of move-in of any pre-existing damages at the time of the Agreement and that Tenant also keeps copies of such evidence.

HAZARD DETECTORS. Tenant acknowledges that all smoke detectors, carbon monoxide detectors, and fire extinguishers were tested in Tenant's presence and found to be in working order, and that the testing procedure was explained to Tenant. Tenant agrees to test all detectors at least once a month and to report any problems to Landlord in writing.

TENANT'S COPY. The Parties further agree that a copy of this joint inspection was provided to Tenant.


LANDLORD:

Sign: ___________________________________ Date: ______________

          _____________

TENANT(S):

Instructions for Your Lease with Option to Purchase



Our rent-to-own lease agreement offers the most comprehensive protection for landlords available on the internet. This form contains everything you need to quickly and effectively execute a strong agreement. The following instructions provide an overview of some of the key provisions of the agreement.

Option to Purchase

In this agreement the tenant has the ability to purchase the unit being leased if he or she meets the requirements listed. This is often called a "rent-to-own" provision or "purchase option." You can choose to make this purchase option contingent upon the tenant first occupying the unit for a certain number of months. You can also choose whether all or a portion of each rental payment will be credited toward the eventual purchase of the property. Finally, you have the option of charging an upfront, nonrefundable fee in return for giving the tenant the purchase option.

The tenant will never be entitled to a refund of any payments credited toward the purchase price. However, if the landlord is unable to convey good and marketable title when the tenant exercises the purchase option, then the landlord must refund the initial fee paid for the purchase option.

After exercising the purchase option, the tenant must be sure to make payments on time and in full for the payments to be credited toward the purchase of the premises. The tenant must also remain an occupant for the minimum number of months specified in the agreement in order to be able to exercise the purchase option. This helps ensure that the tenant makes regular payments and makes the cash flow more predictable for the landlord.

When the agreement begins, interest will immediately being accruing on the unpaid principal balance of the purchase price at the rate you choose, and rental payments will be credited against the unpaid principal balance as interest continues to accumulate. In addition, any unpaid obligation under the terms of the agreement still due to the landlord at closing will be added to the principal balance of the purchase price.

Finally, the landlord also has the right to sell the property to another party at any time; however, the new buyer must honor all of the terms of the agreement.

Rental Payments

This section of your agreement sets out how often rental payments are due. A monthly payment structure is most common. However, you may also choose for rent to be paid weekly, twice per month, every two months, every six months, or once per year.

When specifying the location to where the tenant must make payments, you may add multiple locations as a convenience to the tenant. You may also provide the details for any online payment portal in this section. The same applies when identifying the accepted payment methods. You may allow the tenant to pay via check, cash, direct deposit, wire transfer, credit card/debit card, money order, cashier's check, online, or all of the above. You may also add custom payment methods.

Signing Incentives

Signing incentives are great ways to motivate potential tenants to agree to longer-term leases or higher rental payments. You may add the details of any signing incentive you have agreed on. Signing incentives include rent concessions or other extra benefits that are not standardly included for your tenants. Even if an incentive is normally provided to all tenants, it may still be a good idea to include it here so that the tenants are clear on the details.

Optional Fees and Deposits

You may choose to add fees for late rental payments, dishonored payments (i.e. bounced checks due to non-sufficient funds), and lost keys. Note that some states limit the amount that may be charged for certain fees. See our FAQ for your state's rules. If included, the relevant sections of your agreement will contain standard language enforcing the landlord's right to collect the fees. You also have the option of requiring additional fees or deposits by entering your own custom language.

Security Deposit

Even in the absence of a security deposit, tenants are still required to pay for any damage they cause to the property. However, it is recommended that the landlord always require tenants to pay an upfront security deposit equal to at least one month's rent. This will help ensure that the tenant pays for any damage discovered by the landlord at the end of the tenancy and helps avoid costly litigation that would be required to enforce the agreement in court. See our FAQs for security deposit maximums, refund timeframes, and interest requirements for your state.

The landlord may use the security deposit to repair any damage the tenant causes beyond normal wear and tear to the premises, the common areas, and any furnishings provided by the landlord. "Normal wear and tear" means deterioration that occurs when the premises, or any furnishings provided, are used as intended, without negligence or abuse by the tenant or any of the tenant's guests or subtenants (if permitted).

Lastly, the agreement spells out specific requirements that the tenant must follow in order to have all or part of the security deposit returned. Such requirements include the following:

  • The full term of the agreement has ended or the agreement has been properly terminated according to its terms
  • All rent and outstanding fees or charges have been paid by the tenant
  • All utility bills are paid in full
  • All keys and other items belonging to the landlord have been returned
  • All of the tenant's personal property has been removed
  • The unit has been thoroughly cleaned

Substitute Tenants

You have the option of including a provision that allows the tenant to break the agreement by presenting the landlord with substitute tenants. This allows the current tenants to be released from the agreement. The landlord may refuse to accept any substitute tenants presented if the landlord has reasonable grounds for the refusal. The landlord may also negotiate a new agreement on any terms desired.

It may be a good idea to include this provision so that the tenants are aware of this option ahead of time. Even if you do not choose to include it, the landlord can always agree to allow for substitute tenants later on.

Guarantors (Co-Signers)

Guarantors are often needed when prospective tenants have poor credit. If a guarantor co-signs the agreement, the guarantor will be liable for any and all debts that may arise under the agreement. This is a smart way for landlords to protect themselves from potentially bad situations that arise when tenants fail to pay rent or cause damage to the property.

Subletting

The tenant may not sublet out the apartment to other occupants without the prior written consent of the landlord. Doing so is grounds for the landlord to terminate the agreement and pursue eviction.

Move-In/Move-Out Inspection Checklists

This agreement includes a comprehensive Move-In/Move-Out Inspection Checklist to provide evidence of the condition of the property and to facilitate the security deposit return process. It is highly recommended that this checklist be completed both at move-in and move-out regardless of the state in which this agreement occurs; however, state law requires that a move-in checklist MUST be completed in the following states:

  • Arizona – Tenants also have the right to be present at a move-out inspection (Arizona Revised Statute 33-1321(c)).
  • Georgia – Only required if the property is managed by a third party such as a property management service or if the landlord owns 10 or more rental units (O.C.G.A. 44-7-36). Prior to tendering a security deposit, the tenant shall be presented with a comprehensive list of any existing damage to the premises, which shall be for the tenant's permanent retention. The tenant shall have the right to inspect the premises to ascertain the accuracy of the list prior to taking occupancy. The landlord and the tenant shall sign the list and this shall be conclusive evidence of the accuracy of the list but shall not be conclusive as to latent defects. If the tenant refuses to sign the list, the tenant shall state specifically in writing the items on the list to which he or she dissents and shall sign such statement of dissent (O.C.G.A. 44-7-33a).
  • Hawaii – Tenants also have the right to be present at a move-out inspection (HRS S. 521-42(6)).
  • Kansas – Completed jointly within five days of initial occupancy or delivery of possession (Kann Stat Ann 58-2548).
  • Kentucky – Tenant has the right to separately inspect the premises in order to ascertain the accuracy of the landlord's list of damages (Ky. Rev. Stat. Ann 383.580(2)).
  • Maryland – Only required if the landlord collects a security deposit (Md. Code Ann. S. 8-203.1(a)(1)).
  • Massachusetts – Only required if the landlord collects a security deposit (Mass Gen. Laws Ann. Cha. 186 Section 15B(1)(b)(iii)).
  • Michigan – Leases must include a checklist with the following 12-point boldface type at the top of the first page: "You should complete this checklist, noting the condition of the rental property, and return it to the landlord within 7 days after obtaining possession of the rental unit. You are also entitled to request and receive a copy of the last termination inventory checklist which shows what claims were chargeable to the last prior tenants." (Mich Comp Law 554.608(4)). The seven day return timeframe may be shortened in the lease (Mich Comp Law 554.608(3)).
  • Montana – Only required if the landlord collects a security deposit (MCA 70-25-206).
  • Nevada – NRS 118A.200(3)(k)
  • New Hampshire – N.H. Rev. Stat 540-A:6(I)(b)&(c)
  • North Dakota – Must be signed by the landlord (ND Century Code 47-16-07.2).
  • Utah – Utah Code Ann 57-22-4(3)
  • Virginia – Completed within five days of move-in by the landlord or tenant or both together, and the landlord must disclose within this report the known presence of mold (VA Code 55-248.11:1–2).
  • Washington – Only required if the landlord collects a security deposit. Both the landlord and tenant must sign, and the tenant must receive a copy.
  • Wisconsin – Only required if the landlord collects a security deposit (Wis. Stat. 704.08). The tenant has a right to inspect the rental unit, give the landlord a list of defects, and receive a list of damages charged to the prior tenant (Wis. Admin Code DATCP 134.06(1)).

Lead-Based Paint Disclosures

For properties built before 1978 (i.e. pre-1978 property), federal law requires that the landlord and tenant (and their agents) sign a "Disclosure of Information on Lead-Based Paint," which is included for you. Landlords must keep the signed copy of the "Disclosure of Information on Lead-Based Paint" for at least three years as compliance with the rules. Tenants must also receive the federally approved lead hazard information pamphlet "Protect Your Family From Lead in Your Home" or a similar pamphlet approved for use in your state by the Environmental Protection Agency.

State and Local Disclosure Requirements

Often, state and local law have disclosure requirements that need to be disclosed before or at the signing of the rental or lease agreement. For instance, landlords are often required to disclose serious problems that affect the rental unit's habitability; any housing code violations; mold or flood zone warnings; radon warnings; bed bug, carbon monoxide, and asbestos disclosures; the presence of a methamphetamine laboratory or a flood at the unit prior to the tenant's occupancy; whether the property is located in a military zone; and local rent control rules. When in doubt, it is always best to disclose these and similar issues. Especially if the property is covered by rent control, make sure to research local regulations for required disclosures. These can normally be found on your city or county website or by contacting the office of your mayor, city manager, county administrator, or a locally licensed attorney.

Final Steps

Once finished completing the agreement, simply have all parties sign and date where indicated. Be sure that all parties get a copy of the agreement to retain for their records.

Landlord Landlord and Tenant

Lease with Option to Purchase

A lease with option to purchase, like a normal residential lease agreement, sets up all the essential terms of a lease or rental agreement between a landlord and tenant. Additionally, it gives the tenant the option to one day purchase the apartment or house as long as certain conditions are fulfilled.

The lease with option to purchase gives you the option to include provisions related to rent concessions, furnishings provided, a lead paint disclosure, responsibilities of the tenant and landlord, and a move-in/move-out checklist. In addition to the usual lease provisions, this agreement also allows you to customize the price the tenant pays for receiving the purchase option, the purchase price for the dwelling, any interest rate charged, and the length of time the purchase option will be available.

LegalNature can help you get started drafting and downloading your lease with option to purchase in just a few simple steps to get you the protection you need today.

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