You may be having many rooms in your house and few of them may not be in use. Maintaining such a big house in the present Economic downslide, may be taking toll to your day to day financial budgets. What can you do to improve your financial constraints? You can find suitable tenant and rent the room of your house. The renting will offer a steady monthly rent and also ease your financial difficulties.
It is common to lease a room in the house in busy cities, where renting an apartment or house comes too expensive. For example, you are a student going to another City for further studies but, residing in that location is great problem. You can not also afford renting an apartment or a house for your residing because rent such place is very expensive. What alternative do you have now? You can search for a room and rent it for your staying in that city till your studies are over.
The renting of the room is beneficial to both house owner and you. House owner is saved from maintenance and also earn monetary considerations known as rent and you get an affordable place in low cost for your staying.
But, it is also necessary to understand that, before renting a room, you might have to enter into a written Agreement with the landlord, because such contract has numerous clauses and provisions, which are applicable to both house owner and tenant. The contract document is also legally valid and applicable in the court for any dispute settlements
The main provision in the Room Lease Agreement includes:
ROOM LEASE AGREEMENT
Agreement between _ ________________ (Owner), and ______________, (Tenant), for a dwelling located at__________________, ____________City, ________ State.
Tenant agrees to lease one bedroom of this dwelling, with common living areas shared by Owner, for a term of ____ months, beginning _______ and ending _________ for the sum of __________ per month, payable in advance on the ___________ _ day of each calendar month to the Owner, payable to “______________” whose address is _____________. A late fee of ________ will be assessed if the payment is not received by the ______ day of each month; on the _______ day of each month, the late fee will increase to ________.
The security/cleaning deposit on this dwelling is $_________________, payable prior to “___________”. The security deposit is refundable if the Tenant leaves the dwelling reasonably clean and undamaged. The security deposit will earn interest during the term of the lease. Tenant may not use the security deposit as payment of the last month’s rent.
Owner will refund all deposits due within 30 days after Tenant has moved out completely and returned the keys, provided no rent, fees or other costs are due to the Owner. Should it be necessary to retain part or all of the security deposit due to damage, cleaning/trash removal, or unpaid fees, an itemized statement will be provided to the Tenant.
Should the Tenant move before this Agreement expires, the Tenant will be responsible for paying rent through the end of the lease term or until another tenant approved by the Owner has moved in, whichever comes first. All costs associated with searching for a new tenant will be the responsibility of the Tenant.
Without the Owner’s prior written permission, no persons other than those with a signed leased may live in the house. No pets may stay there, even temporarily, nor may any room of the dwelling be used for business purposes.Overnight and weekend guests are permitted, with a maximum of two per tenant, with the agreement of all the other current residents. Sublets are subject to prior written approval of the Owner.
Tenant agrees to maintain the rental unit in a clean and sanitary condition. Tenant also agrees to help keep the common living areas, yards, and garbage areas of the house clean, with chores assigned according to an agreement made mutually by all the current residents of the house.
Tenant agrees to provide their own insurance and to name Owner as additional insured under Tenant’s insurance policy. Tenant agrees to file claims for any property or personal loss through their own insurance company before filing any claims against the Owner insurance policy. Tenant agrees to hold the Owner harmless from claims for personal or property loss for which the Owner is not responsible and which the Tenant’s own insurance should cover.
OWNER AGREES TO THE FOLLOWING:
1)to provide the following furniture: sofas, chairs, and tables for the living room and dining room. A bed, dresser, desk and chair for each bedroom. Window treatment for the rented designated bedroom.
2)to provide the following kitchen appliances: a refrigerator, one freezer, one microwave, and one stove.
3)to provide laundry facilities free of charge for the use of Tenant only.
4)to pay all utilities, including electric, gas, water and cable TV.
5)to pay for garbage collection.
TENANT AGREES TO THE FOLLOWING:
1)to accept the dwelling "as is," having already inspected it.
2)to keep from making loud noises or disturbances and to play music or broadcast programs so as not to disturb other people’s peace and quiet at any time.
3)to keep all gatherings of residents and their guests from becoming disorderly. The maximum number of guests allowed at any one time in the house will be 10. Tenant must notify Owner, and receive permission, for any party including more than two guests.
4) to pay for repairs of all damage they, or their guests, have caused, including broken windows.
5)not to paint, or otherwise physically alter, any part of the dwelling without first getting Owner’s written permission.
6) not to drill any holes or to apply any adhesives, paint, or other substances to the woodwork anywhere in the house (i.e.: doors, window trim, door trim). Posters and pictures may be hung on the plaster walls, using plain adhesive tape, thumbtacks, pins, or small nails. Products such as “poster putty” or other adhesives are not to be used.
7) not to remove or to add any furniture or window treatments to the common living areas of the house without first getting Owner’s written permission.
8) to use a watertight pan underneath any mini-refrigerator used in Tenant’s room.
9) not to keep any liquid-filled furniture in this dwelling.
10)to pay rent by check or money order made out to Home Owner Name (returned checks will have applicable late payment fees, as well as any bank charges imposed on the Owner).
11) to allow Owner to inspect the dwelling, to work on it, or to show it to prospective tenants at any and all reasonable times, with 24 hours notice except in cases of emergency.
Violation of any part of this Agreement or nonpayment of rent when due shall be cause for eviction. The prevailing party to any claims arising under this lease shall recover reasonable legal service fees involved.
The Owner is not liable for the loss or damage of Tenant’s personal property while it is on the premises.
Tenant hereby acknowledges that they have read this Agreement, understand it, agree to it, and have been given a copy.
Home Owner Name_________________