An apartment contract sample form is used in properties for lease. It is a contract that legally binds a landlord and a tenant. The rental agreement will be discussed in the contract, where both parties need to sign to show their approval of the conditions stated.
An apartment contract sample form may vary from one property to another. But it must contain the following:
The first part of the contract includes the name of the city where the property is situated. It will be followed by the names of the lessor (landlord) and the lessee (tenant) and their respective permanent addresses.
A description of the property and ownership of the landlord constitute the recitals. The lessee will also be addressed as agreeing to the terms and conditions set by the property owner and the rights, duties, and liabilities involved upon signing the contract.
This will be a detailed description of the property for lease. It will include the name of the building, the floor area, the floor level, and other pertinent details of the property’s address. Including a sketch of the property is optional.
The landlord will state the reason for having the property rented out and where it will be used primarily for. It will also include the scope of the limitations of the tenant in terms of property use.
A description of the lease duration from when it will commence and end is stated in this part. It also includes the renewal rate and the percentage of the yearly increase.
This portion indicates the amount of monthly rent exclusive of the VAT and the applied net of the applicable withholding tax on the rental income. The former will be accounted for by the lessee, and the latter will be deducted from the rental payments every month and remitted on behalf of and accounted for by the lessor to government authorities. The due date of the said monthly payment is also stated in this portion payable to the lessor’s address and includes the billing period.
This part of the contract also mentions the amount of guarantee deposit that the lessee will pay to the lessor, and its forfeiture if the tenant fails to meet the required agreements in the contract lease. Advance rental payments for 2 months and the following month are mentioned here including the corresponding amount.
This will list down which of the service and utility fees will be shouldered by the lessee and which ones by the lessor. The lessee will pay for the installation fees involved; however, the lessor will take charge of the deposit required in favor of the tenant.
In the event that the tenant wants to make changes in the apartment, the lessor has to be informed first. The lessee will also shoulder the expenses of improvements or repairs and will be the landlord’s property upon the end of the lease.
The lessor is entitled to enter the property during reasonable times for purposes such as making additions, improvements, repairs, and alterations to the property.
If the landlord fails to fulfill the obligations required in the contract, the lessee can provide, in not less than 30 days, a notice requesting for termination of the lease.
If the lessee failed to make the monthly payments and violates any of the provisions stated in the lease, the lessor can terminate this lease by providing notice. The landlord can also re-enter the premises and forfeit the guarantee deposit.
The lessee will need to surrender the premises within 30 days after receiving the notice of termination of the lease or on the last day of the lease expiration.
Any personal property of the tenant will be removed when vacating the premises provided that it will not subject any damage to the premises. This will include any trade fixtures and equipment.
All of the notices will be sent through registered mail with prepaid postage and addressed to the party indicated in the notice.
This will be the portion where the lessee and the lessor will sign, which also includes the date, and where the notary public will notarize the document.
It is important for brokers to guide a property seeker about the scope of their rights and liabilities mentioned in the apartment contract sample form. This is to make sure both the landlord and the tenant will perform their duties and responsibilities for their protection and a conflict-free rental experience.
