Simple Building Rental Agreement

If this rental is a “gross rental”, select the check box called “gross rental”. Both the tenant and the lessor must start this selection with the empty lines “Tenant Initials” and “Lessor Initials”. If it is a “modified gross rent”, activate the “Modified gross rental” box. Make sure that tenants and landlords will initialize the blank lines as soon as the necessary information has been filled in. There will be a number of empty lines according to the words “. After the monthly expenses”, to report the expenses related to this real estate rent, the tenant must pay in addition to the basic rent above and a series of empty lines under the declaration “The landlord pays the following monthly expenses” to document the expenses that the landlord must pay for the duration of this rental period. Nothing should be added to these areas after the landlord and tenant have initiated this choice. If this rental is a “triple net (NNN)”, enable the third check box. The tenant and the lessor must record their initials on the voids according to the words “initials of the tenant” or “initials of the lessor”. Those parties should only put their initials on those lines when Section III has been retained.

The first two spaces require the minimum single limit insurance coverage, for which the policyholder is responsible, which is entered clean and then digitally. The third and fourth empty lines require the minimum coverage needed to insure against the death of a person in the field. while the empty fifth and sixth lines require the minimum coverage needed to cover property damage. First look for the space between the terms “. Standard for more than” and “days after due date…”¬†Use this space to enter the number of days to elapse (after the due date of an unpaid rent) so that the tenant is considered late when paying the rent if he remains unpaid. Then we must choose a method to impose a penalty for non-payment. If the non-payment fine is calculated as the interest rate per year, mark the first check box and enter the interest rate to be calculated. Grab it literally, then digitally with the spaces provided. If the non-payment fine is a late fee that is incurred daily, mark the second box and enter the late fee with the two spaces indicated. Section II of point 17 requires the entry of the name of the municipality in which the land is located. Specify the name of the state in which this property is located in the empty line in the twenty-first item.

Article 22 must have the official address to which a lessor or tenant must send correspondence or payments regarding this lease and/or immovable property. Enter the full address at which the landlord agrees to receive such messages/payments from the tenant in the blank lines under the word “owner”. Then document, under the word “tenant,” the address at which the tenant agreed to receive such items from the landlord.. . .

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