504 W Memorial Dr

Lease terms

Lease Terms for Property (Tenant Pays All Utilities) Lease Duration: The lease term is 12 months, beginning on [Start Date] and ending on [End Date]. Rent: The $1250 monthly rent is due on the 3rd of each month. It must be paid in full and on time. Security Deposit: A security deposit of one & half months' rent is required upon signing the lease. This deposit will cover any damages to the property, unpaid rent, or other costs incurred as a result of the tenant's failure to comply with the lease agreement. Utilities: The tenant is responsible for paying all utilities associated with the property. This includes, but is not limited to: Electricity Water & Sewer (Muncie Sanitary) Gas Trash Collection Internet, Cable, and Phone Services (if applicable) The tenant agrees to set up utility accounts in their name and ensure timely payment to avoid service interruptions. Maintenance & Repairs: The tenant is responsible for the general upkeep of the property, including lawn care, snow removal, and minor repairs. The landlord will handle major structural repairs (e.g., roof, plumbing, HVAC systems) unless the need for repair is caused by tenant negligence. Insurance: The tenant is required to obtain renter's insurance to cover personal property and liability. Proof of insurance must be provided before move-in. Occupancy: The property is to be occupied by the tenant(s) listed on the lease agreement. Subleasing or short-term rentals (e.g., Airbnb) are not permitted without the landlord's written consent. Pets: Available on discussion (Pet Fee $75 per Pet) Termination: Either party may terminate the lease with 30 days' written notice at the end of the lease term. Early termination may result in penalties as outlined in the lease agreement. Late Fees: A late fee of $50 will be applied if rent is received after 3th of the month Inspections: The landlord reserves the right to inspect the property with [Insert Notice Period, e.g., 24 hours] notice, except in cases of emergency. By signing the lease agreement, the tenant agrees to comply with all terms outlined above.