Rental Agreement Summary

Although oral agreements are covered by the Housing Leases Act, your landlord must provide you with a written rental agreement. Sometimes the risk of ownership of the property is reduced by the fact that it is a special model or that there are signs that cannot be easily removed, so it is obvious that it is in the possession of the owner; it is particularly effective for goods used in public places, but even if they are used at home, it can help because of social control. SYNOPSIS OF Professional Property Services, Ltd. RESIDENTIAL LEASE AGREEMENT (12 pages) This summary acronym for our rental accommodation is solely for convenience and clarification. The tenant must read the entire tenancy agreement, as the lease contains other important paragraphs that are not described in this summary. A lease is a legally binding contract. If you don`t understand the lease, talk to a lawyer to explain your legal rights and obligations by signing the lease. Paragraph #1 INITIAL LEASE TERM: Exact length of rent, rent and proportional rent, if any. Paragraph #2 SECURITY DEPOSIT: refers to a separate bail receipt given at the time of bail payments and the reshuffling of Maryland`s security deposit entitle. Paragraph #3 rent payment: Rents are due on the day or before the first day of the month. A 5% late fee is charged on the 6th if the rent is not paid immediately; a court appeal is brought with additional costs that will be assessed if they are not paid on the 10th. There is a $35.00 fee if a cheque is returned, and a $25.00 fee if the agent is to appear in court for non-payment of rent. Paragraph #4 LANDLORD/AGENT LEGAL RIGHTS: Owner`s rights if, for any reason, rental breaches the rental agreement.

Paragraph #5 persons who will occupy THE PROPERTY: the name of all authorized persons who will live in the establishment. No other person can occupy the dwelling. Paragraph #6 TENANT`S RIGHT TO OCCUPY THE PROPERTY: The tenant has the right to „quietly enjoy“ the property in a reasonably safe state of residence. If possession cannot be given, the rent is reduced to possession. Paragraph #7 SMOKE DETECTOR NOTICE: Need a backup battery in smoke detectors. The tenant must be initial. Paragraph #8 installation of SMOKE DETECTORS: The tenant is responsible for the maintenance of the smoke detectors. Paragraph #9. TENANT`S USE of KEYS AND LOCKS: The client must not change or add without the agent`s permission and must provide the agent`s key. If the keys are lost or the tenant is blocked after hours of operation, a $35.00 fee will be charged. Paragraph #10 TENANT`S CONFORMITY WITH ASSURANCE SAFETY AND REGLEMENT: The tenant cannot do anything on the ground or authorize anything that would interfere with health and safety rules or lead to an increase in insurance premiums.

Paragraph #11 LANDLORD/AGENT/TENANT LIABILITY: The landlord/agent is not liable for losses or damage to the property under the exclusive control of the tenant. Tenant must provide tenant`s copy of binder insurance to landlords for the property and tenant`s liability. Paragraph #12 TENANT INDEMNIFIES LANDLORD/AGENT: The tenant holds the landlord free of any liability arising from the parts of the property under the exclusive control of the tenant.