Rental Agreement Proposal
I. Introduction
This Rental Agreement Proposal outlines the terms and conditions for leasing the property located at Nashville, TN 37201. The purpose of this document is to provide both the landlord and tenant with a clear understanding of the rental arrangement before entering into a formal lease agreement. Please review the following terms carefully and feel free to contact [YOUR NAME] at [YOUR EMAIL] for any questions or clarification.
II. Property Details
Property Address: Nashville, TN 37201
Property Type: Residential/Commercial
Square Footage: 1,500 sq. ft.
Bedrooms: 3 (for residential) / N/A (for commercial)
Bathrooms: 2 (for residential) / N/A (for commercial)
Parking: 1 assigned spot (for residential) / N/A (for commercial)
Additional Features: Central air conditioning, balcony, hardwood floors
III. Lease Terms
Proposed Rent: $2,500/month
Lease Duration: 12 months (Starting from May 1, 2050)
Security Deposit: $2,500 (refundable at the end of the lease)
Payment Due Date: The rent is due on the 1st day of each month.
Late Payment Penalties: $100 for payments received after the 5th of each month.
IV. Tenant Responsibilities
Utility Payments: Tenant is responsible for paying all utilities, including water, gas, and electricity.
Maintenance: Tenant is responsible for keeping the property in good condition and notifying the landlord of any necessary repairs.
Insurance: Tenant must provide renters' insurance before the lease commences.
V. Landlord Responsibilities
Property Maintenance: The landlord will maintain the structural integrity of the property, including roofing and plumbing.
Repairs: The landlord is responsible for repairs related to appliances, heating, and air conditioning systems.
Access for Inspections: The landlord will provide 48 hours' notice before entering the property for inspections or repairs.
VI. Terms of Renewal
If both parties agree, the lease may be renewed under similar terms.
Renewal Option: Tenant has the option to renew the lease for an additional 12 months with a 5% increase in rent.
Notice Period: Tenant must notify the landlord at least 30 days before the lease expiration date if they intend to renew.
VII. Special Conditions
Condition | Details |
|---|
Pets | No pets allowed without written consent. |
Subleasing | Subleasing is prohibited without landlord approval. |
Alterations to Property | Tenant may not make alterations without permission. |
Smoking Policy | Smoking is prohibited inside the premises. |
Parking | Tenant must park only in the assigned parking spot. |
VIII. Conclusion
We believe this rental agreement proposal presents a fair and reasonable set of terms for both parties. Should you have any questions or wish to make adjustments to any terms, please do not hesitate to contact [YOUR NAME] at [YOUR EMAIL]. We look forward to a successful and mutually beneficial rental arrangement.
Prepared by: [YOUR NAME]
Email: [YOUR EMAIL]
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