Lease Agreement for Renting a Room

A lease agreement is generally a legally valid contract that has been enlisted on a document and drafted when a person 'rents out something'. Generally, the rented property is a real estate, but assets such as machinery, vehicles and equipment can also be leased.

This agreement is a contract between the tenant (the person who pays the rent and uses the house as per the contract) and the landlord (the owner of the house). The terms are legally called lessee (tenant) and lessor (landlord), respectively.

The elements that are primarily observed in any lease agreement are:

1. The parties involved in the contract and the considerations (rent money and use of the room).
2. The deposit for damage and conditions under which it can be claimed by the landlord.
3. The agreement's maturity/termination.

In many cases, the conditions on which a lease termination letter can be issued are also mentioned. It must be noted that the lease agreement is a contract that can be terminated lawfully by either party.

Mentioned here is a free rent a room tenancy agreement template that can be modified and printed as per specifications. You may also have to attest and stamp the document as per the law of your land, in order to make it authentic and legally valid.

This document signifies a contract between Mr ABC of address of the landlord as the landlord or lessor, hereby referred to as the landlord and Mr XYZ of address of the tenant as the tenant or lessee of the room concerned. The room concerned is an office premise located at address of the room. Here are the clauses of the agreement.

The term of the contract shall commence from the 1st of February of a given year, and shall terminate on the 1st of January in the following year. The monthly rent amount shall be amount, which is to be paid by the means of a check to Mr ABC in the time period between 1st to 25th of every month.

A maximum default of 2 months rent payment would be acceptable. The minimum amount of (amount) should be paid in the following month.

Mr XYZ is to deposit a sum amount as a security deposit to Mr ABC. Mr ABC is lawfully empowered to deduct the sum for repair bills, if there is a material damage to walls and the doors of the room. Apart from that, damage to any fixtures, windows, window sills, glass of the window, can also be a valid ground to deduction from the security deposit.

The deposit will mature on 1st of January of the later year. The remainder of the deposit would be repaid by Mr ABC within 10 days. In case the rent payment defaults for more than 2 months, the contract can be terminated. The law of the land would stand ultimate decider, in case of dispute. The document can be used as evidence by the legal system.

Signatories
It is advisable that one drafts the legal contract with the help of a lawyer. It must be noted that the aforementioned sample is fictitious, and is an academic example.