Agreement Letter for Shop Rental
[Your Name]
[Your Company Name]
[Your Company Address]
[Your Company Email]
[Your Company Number]
Michael Bennett
456 Oak Avenue
Springfield, IL 62701
Subject: Shop Rental Agreement
Dear Mr. Bennett,
This letter serves as a formal agreement between [Your Name] (Landlord) and Michael Bennett (Tenant) regarding the rental of the commercial property located at 789 Maple Road, Springfield, IL 62701 (the "Premises").
1. Term of Lease:
The lease term shall commence on September 1, 2050, and shall continue for a period of twelve (12) months, expiring on August 31, 2051. The lease may be renewed upon mutual agreement.
2. Rent:
The Tenant agrees to pay the Landlord a monthly rent of $2,500.00. Rent shall be due on the first day of each month and shall be paid via bank transfer or check.
3. Security Deposit:
The Tenant shall provide a security deposit of $5,000.00 prior to the commencement of the lease. The deposit will be held to cover any damages to the Premises or unpaid rent and will be refunded within thirty (30) days of lease termination, minus any deductions for damages.
4. Use of Premises:
The Premises shall be used exclusively for retail purposes. The Tenant shall not use the Premises for any illegal activities or purposes not agreed upon.
5. Maintenance and Repairs:
The Tenant shall be responsible for routine maintenance and minor repairs of the Premises. The Landlord shall be responsible for major repairs unless damage is due to Tenant's misuse.
6. Utilities:
The Tenant shall be responsible for all utilities associated with the Premises, including but not limited to electricity, water, and heating.
7. Termination:
Either party may terminate this agreement with thirty (30) days' written notice. In the event of early termination by the Tenant, the security deposit shall be forfeited.
8. Governing Law:
This agreement shall be governed by the laws of the State of Illinois.
9. Signatures:
By signing below, both parties agree to the terms and conditions outlined in this Agreement Letter.
[Your Name]
Landlord
Michael Bennett
Tenant
Witnesses:
Jane Adams
Witness
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