SYNOPSIS OF Professional Property Services, Ltd. RESIDENTIAL LEASE AGREEMENT (12 Pages)
This abbreviated Summary of our residential lease is for convenience and clarification only. Lessee should read the entire lease agreement, as the lease contains other significant paragraphs not fully described in this summary. A Lease is a legally binding contract. If you do not understand the lease, contact an attorney for an explanation of your legal rights and
responsibilities by signing the lease.
Paragraph #1 INITIAL LEASE TERM: Exact term of lease, rental amount and pro-rata rent if applicable.
Paragraph #2 SECURITY DEPOSIT: Refers to a separate Security Deposit Receipt given at time the Security Deposit is paid and outlining the Maryland Security Deposit Law.
Paragraph #3 PAYMENT OF RENT: Rents are due on or before the 1st day of the month. A late fee of 5% is assessed on the 6th if rent is not paid promptly; a Court Suit is filed with additional charges assessed if not paid by the 10th. There is a $35.00 fee if a check is returned, and a $25.00 fee if Agent has to appear in court for Failure to Pay Rent.
Paragraph #4 LANDLORD/AGENT LEGAL RIGHTS: Landlordís rights if tenant should breach the lease for any reason.
Paragraph #5 PERSONS WHO WILL OCCUPY THE PROPERTY: Names of all authorized persons who will live in the property. No other persons may occupy the property.
Paragraph #6 TENANTíS RIGHT TO OCCUPY THE PROPERTY: The Tenant has the right to ďquiet enjoymentĒ of the property in a condition of reasonably safe habitation. If POSSESSION cannot be given, rent will be abated until possession can be given.
Paragraph #7 SMOKE DETECTOR NOTICE: Need a back-up battery in smoke detectors. Tenant must initial.
Paragraph #8 INSTALLATION OF SMOKE DETECTORS: Tenant is responsible to maintain Smoke Detectors.
Paragraph #9. TENANTíS USE OF KEYS AND LOCKS: Tenant may not change or add locks without Agentís permission and must provide Agent keys. If keys are lost or tenant is locked out after business hours, there is a $35.00 charge.
Paragraph #10 TENANTíS COMPLIANCE WITH SAFETY AND INSURANCE REGULATIONS: Tenant may not do or permit to be done anything on the property that would hinder health and safety regulations or cause an increase in insurance premiums.
Paragraph #11 LANDLORD/AGENT/TENANT LIABILITY: Landlord/Agent not responsible for any loss or damage for property within the exclusive control of Tenant. Tenant MUST provide copy of Renterís Insurance binder to Landlord covering tenantís possessions and liability.
Paragraph #12 TENANT INDEMNIFIES LANDLORD/AGENT: Tenant shall hold Landlord harmless against any and all liability arising from those portions of the property under tenantís exclusive control.
Paragraph #13 LANDLORD/AGENTíS RIGHT TO ENTER THE PROPERTY DURING THE TERM: Landlord may enter the property during reasonable hours and with 24 hoursí notice to make repairs or to inspect. Landlord/agent may enter without notice in event of an emergency and during the last 90 days of a lease term to show property to prospective tenantís or buyers.
Paragraph #14 TENANTíS RESPONSIBILITY AT END OF TERM: Tenant to leave property in the same condition as received, normal wear and tear excepted.
Paragraph #15 FAILURE TO VACATE AT TERMINATION: Tenant or Landlord must give 60 daysí notice to vacate at the termination of lease. In the absence of a written extension, lease shall continue month to month. Notice shall always be for a full rental period from the 1st day to the end of the month. If all residents do not vacate, Landlord may file a ďTenant Holding OverĒ action in court.
Paragraph #16 DEFAULT: Lease violations defined. In the event of a violation of lease, Landlord may terminate by giving tenant 30 daysí notice.
Paragraph #17 WAIVER CLAUSE: If Landlord waives or acquiesces on any default; it shall not be considered a waiver of the lease agreement or any other terms of it.
Paragraph #18 ABANDONED PROPERTY: Any personal property left on the premises for more than 7 days after termination shall be considered abandoned property and may be disposed of.
Paragraph #19 TENANT RESTRICTED FROM SUBLEASING OR ASSIGNING LEASE: Tenant may not sublease or assign lease without consent of Landlord. A fee of $100.00 is charged if allowed.
Paragraph #20 TENANTíS AND LANDLORD/AGENTíS RIGHTS IF PROPERTY IS DAMAGED: If property is rendered uninhabitable, rent is abated or lease is terminated. If property is only damaged, repairs will be made and rent is still payable.
Paragraph #21 TENANTíS AND LANDLORD/AGENTíS RIGHTS IF PROPERTY IS TAKEN BY THE GOVERNMENT: If property is condemned, lease shall terminate. Tenant has no claim against Landlord.
Paragraph #22 INSPECTIONS: Landlord/Agent has the right to be present.
Paragraph #23 TENANTíS RESTRICTIONS CONCERNING VEHICLE PARKING: Only properly licensed vehicles in operating condition may be parked on premises. No parking on lawns and no mechanical repairs except routine maintenance.
Paragraph #24 TENANTíS RESTRICTIONS CONCERNING TRASH: Trash must be removed on a weekly basis. No trash may be placed on street before 5:00 PM. Tenant to pay for trash removal.
Paragraph #25 TENANT AND LANDLORD/AGENT AGREEMENT IF UTILITIES ARE INTERRUPTED: Landlord not liable if tenant is unable to obtain utilities for reasons beyond Landlordís control.
Paragraph #26 TENANT AND LANDLORD/AGENT AGREEMENT FOR REPAIRS: Landlord/Agent may temporarily curtail furnishing a service or utility in order to make repairs without liability.
Paragraph #27 LANDLORD/AGENTíS RIGHT TO RE-RENT PROPERTY: If tenant breaches lease or abandons property, Landlord may re-lease property at reasonable terms and conditions. Tenant shall remain liable for the costs to re-rent and for any difference in the rental amount received.
Paragraph #28 TENANT RESPONSIBLE FOR ADDITIONAL RENT: Any and all sums due and payable from tenant, ie. utilities, late charges, legal fees, damages, shall be considered additional rent and collectible as such.
Paragraph #29 ATTORNEYíS FEES AND COURT COSTS: Tenant to pay all attorneyís fees and court costs as additional rent unless tenant prevails in an action. $25.00 due for Agentís appearance in court.
Paragraph #30 LANDLORD/AGENT DOES NOT WAIVE LEGAL RIGHTS: Failure of Landlord to enforce any term of lease does not constitute a waiver of said term.
Paragraph #31 COMMUNITY ASSOCIATION PROVISIONS: If property is part of a HOA or Condo Association, tenant shall abide by all rules, regulations and restrictions of association or be liable for breach of lease. Landlord to provide
copy of documents to tenant.
Paragraph #32 TENANTíS OBLIGATIONS REGARDING USE AND OCCUPANCY: (Long Ė read carefully) Tenant is to
maintain and care for property inside and out. Tenant shall prohibit use of any illegal drugs or activity on premises.
Paragraph #33 TENANTíS RESTRICTIONS ON CHANGES TO THE PROPERTY/ALTERATIONS: Tenant may not
remodel, paint, or change anything with prior written permission of Landlord. Property must be restored to original
condition when tenant vacates.
Paragraph #34 INCLUSIONS/EXCLUSIONS: Check list of included items.
Paragraph #35 UTILITIES AGREEMENT: Check list of who pays for which utilities.
Paragraph #36 MAINTENANCE AND REPAIRS: (Long Ė read carefully) Describes what the Landlord pays and what the
tenant is responsible to maintain and pay. Also lists restrictions.
Paragraph #37 TENANTíS RESTRICTIONS CONCERNING PETS: States if pets are allowed, or not and, if so, that a
separate Pet Addendum must be signed.
Paragraph #38 TENANTíS AND LANDLORD/AGENTíS DELIVERY OF NOTICES: All notices MUST be in writing.
Paragraph #39 FUEL OIL: If property uses oil for heat, owner maintains a Burner Service Contract and tenant is
responsible to buy oil from that company. Tenant receives property with a full oil tank and must leave the tank full when
Paragraph #40 ACTIVE MILITARY DUTY: Standard ďMilitary ClauseĒ included if tenant is in the military.
Paragraph #41 LEAD PAINT Ė APPLICABLE LAW: Required by Maryland Law. Landlord must initial items that are
applicable to property age. Tenant must initial end of paragraph.
Paragraph #42 SUBORDINATION: Owner may want to refinance and will need tenant to acknowledge lease and
occupancy in writing.
Paragraph #43 BANKRUPTCY: If tenant declares Bankruptcy, Lease shall terminate and tenant shall vacate premises.
Paragraph #44 RENT INCREASES: After initial term, Landlord may increase rent by giving tenant 60 daysí notice.
Timely payment indicates acceptance. If tenant doesnít accept, must send back 30 daysí notice of intention to vacate. All
notices to be in writing.
Paragraph #45 CANCELLATION BY LANDLORD/AGENT IN INITIAL TERM: If tenant materially breaches lease,
Landlord may cancel by giving Tenant 30 daysí written notice to vacate.
Paragraph #46 CANCELLATION BY TENANT IN INITIAL TERM: If tenant voluntarily cancels lease prior to the end, he
must give 60 daysí notice, is responsible for all rent until a new tenant is found, and is responsible for all costs to re-rent,
including agentís fee, advertising and make-ready of premises.
Paragraph #47 TENANT ACCEPTS PROPERTY: Tenant accepts property in present condition, after conducting a
ďMove-inĒ Inspection and given a list of any defects.
Paragraph #48 HEIRS AND ASSIGNS ARE BOUND BY LEASE: The terms of lease are binding upon all heirs, personal
representatives, successors and assigns of Landlord/Agent and Tenant.
Paragraph #49 CONTROLLING LAW: The lease is construed and interpreted in accordance with the laws of the State of
Paragraph #50 TENANT AND LANDLORD MAY MEDIATE DISPUTES: Tenant and Landlord/Agent agree to mediate
any disputes under this lease.
Paragraph #51 ďTIME IS OF THE ESSENCEĒ SHALL APPLY TO THIS LEASE
Paragraph #52 JOINT AND SEVERAL LIABILITY: All tenants who sign this lease are equally (jointly and separately)
liable and responsible for full performance under each condition of this lease.
Paragraph #53 ADDITIONAL PROVISIONS: Any additional negotiated provisions noted here.
ATTACHED ADDENDUMS LISTED
SIGNATURE LINES AND DATES FOR TENANTíS AND LANDLORD/AGENTíS
SECURITY DEPOSIT RECEIPT SIGNED SEPARATELY UPON PAYMENT OF SECURITY DEPOSIT
Note: Tenant must initial each page where indicated.