A fixed term lease agreement template is commonly used for residential rentals, lasting six months to a year. Rent and terms can’t be changed without mutual agreement, providing stability for both parties.
Company: [Landlord.Company]
Address: [Landlord.StreetAddress] [Landlord.City] [Landlord.State] [Landlord.PostalCode]
[Landlord.FirstName] [Landlord.LastName] ("Landlord") agrees to lease to [Tenant1.FirstName] [Tenant1.LastName] and [Tenant2.FirstName] [Tenant2.LastName] ("Tenants") the following rental property under the terms set forth in this Fixed Term Lease Agreement ("Agreement"):
PROPERTY ADDRESS: (Insert property address)
The Fixed Term Lease (the "Term") begins on (Date) ("Start Date") and ends on (Date) ("End Date").
At the end of the Term: Month-to-Month Lease.
The Landlord will create a month-to-month holdover tenancy. If the Landlord accepts a rent payment from the Tenants other than past due or additional rent, then after the Term expires, the Parties understand the month-to-month holdover tenancy applies at agreed-upon monthly rent unless proper notice has been served as required by applicable laws.
Note the preferred payment method (check, cash, transfer, or another payment method) and locations. Be clear with your instructions and ensure you have the correct address details on your fixed term lease agreement template.
Tenants agree to pay $(Rent.Amount) for the Property and such payments will be made (after the initial payment due on the signing date) on or before the first day of each month. If the Start Date is on a day other than the first day of the month, rent will be prorated for the first month.
The available payment options are (Payment.Options) and the payment will be made to (Payment.Location).
If payments are sent by mail, the Tenants must send it in advance of the due date to ensure delivery on or before the first day of the month.
Some local laws may have specific requirements regarding handling security deposits, which allows for some flexibility in this paragraph. As security deposits are commonly equivalent to one month’s rent, tenants might be tempted to utilize it as their final month’s rent. However, it should be emphasized that this practice isn’t acceptable.
Tenants will pay the Landlord a security deposit of $(Deposit.Amount) on the day this Agreement is signed. The Landlord is not required to keep security deposit funds in a trust account nor pay any interest on it unless required by law.
Within (Number.Days) days of the termination of this Agreement (and Tenants vacating the Property), the Landlord will provide the Tenants with an itemized statement showing any retentions of any portions of the security deposit amount for the cost of cleaning or repair above and beyond ordinary wear and tear on the Property or any other sums due to the Landlord under this Agreement. Tenants cannot treat the security deposit as part of any rent payment.
Rent payments returned for insufficient funds, a "stop payment," or any other reason will incur a returned check charge of (Charge). Late fees of (Fee) per day will apply beginning on the 5th day of each month if the payment is not made in a timely manner or the maximum amount authorized by law.
Upon the date of signing this Fixed Term Lease Agreement, the following payments are due and before the Tenants move into the Property:
First month's rent (prorated): $(Amount) Last month's rent: $(Amount) Security deposit: $(Amount)Other: (Insert other payments) $(Amount)