51 Castle Bay Dr

Lease terms

RESIDENTIAL LEASE AGREEMENT Property: 51 Castle Bay Drive, Hampstead, NC 28443 This Residential Lease Agreement ("Agreement") is entered into on ____________, 20___ by and between: Landlord: ______________________________ and Tenant(s): _____________________________ Collectively referred to as the "Parties." ________________________________________ 1. Premises Landlord leases to Tenant the residential property located at: 51 Castle Bay Drive Hampstead, NC 28443 including all improvements, fixtures, appliances, garage, and outdoor spaces associated with the property. ________________________________________ 2. Lease Term The lease shall begin on _____________ and end on _____________, constituting a twelve (12) month lease. Any extension shall require a written agreement signed by both parties. ________________________________________ 3. Rent Monthly Rent: $2,250.00 Rent is due on the 1st day of each month. Payments shall be made electronically unless otherwise agreed. ________________________________________ 4. Security Deposit Tenant shall pay a security deposit of one month's rent ($2,250.00) prior to occupancy. The deposit shall be held and returned in accordance with North Carolina law, less any lawful deductions for damages beyond ordinary wear and tear, unpaid rent, cleaning, or other permitted charges. ________________________________________ 5. Late Fees If rent is not received within five (5) days after the due date, Tenant shall pay the maximum late fee permitted under North Carolina law. ________________________________________ 6. Utilities Tenant shall be responsible for: Electricity Water/Sewer Trash service (if not HOA provided) Internet/Cable Gas (if applicable) Landlord shall pay HOA dues. ________________________________________ 7. Occupancy Only the following occupants may reside in the property: ________________________________________ No additional occupants may reside at the property for more than fourteen (14) consecutive days without written permission. ________________________________________ 8. Pets No pets shall be permitted without prior written approval. Approved pets may require: Additional pet deposit Monthly pet rent Signed pet addendum Tenant remains responsible for all pet-related damages. ________________________________________ 9. Smoking Smoking or vaping is prohibited inside the home, garage, and any enclosed areas. ________________________________________ 10. Maintenance Responsibilities Tenant agrees to: Replace HVAC filters regularly. Replace smoke detector batteries as needed. Keep landscaping watered as required. Promptly report maintenance concerns. Keep the premises clean and sanitary. Prevent mold by using exhaust fans and reporting leaks immediately. Tenant shall be responsible for damage caused by negligence or misuse. ________________________________________ 11. Alterations No painting, remodeling, installation of fixtures, wallpaper, satellite dishes, security cameras, or structural changes may be made without Landlord's written approval. ________________________________________ 12. Appliances The following appliances are provided: Refrigerator Range/Oven Dishwasher Microwave Washer (if included) Dryer (if included) Tenant shall promptly report appliance issues. ________________________________________ 13. HOA Rules Tenant agrees to comply with all Castle Bay HOA rules and regulations. Any fines resulting from Tenant's actions shall be Tenant's responsibility. ________________________________________ 14. Renters Insurance (Required) Tenant shall obtain and maintain renters insurance throughout the entire lease term. Coverage shall include: Minimum personal liability coverage of $300,000 Personal property coverage sufficient for Tenant's belongings Additional Living Expense (ALE) coverage Prior to receiving possession of the property, Tenant shall provide proof of insurance. The policy shall remain active during the lease term. Failure to maintain coverage shall constitute a material breach of this Agreement. Tenant acknowledges that Landlord's insurance does not cover Tenant's personal property. ________________________________________ 15. Landlord Access Landlord may enter the property upon reasonable notice for: Repairs Maintenance Inspections Showing the property Emergencies Emergency access may occur without notice when necessary to protect persons or property. ________________________________________ 16. Repairs Tenant shall immediately notify Landlord of: Water leaks Plumbing issues HVAC failure Roof leaks Electrical problems Mold Structural concerns Failure to promptly report issues may result in Tenant being responsible for resulting damages. ________________________________________ 17. Default Failure to pay rent, maintain renters insurance, comply with HOA rules, or otherwise materially breach this Agreement may result in default and any remedies available under North Carolina law. ________________________________________ 18. Surrender of Property At lease expiration Tenant agrees to return the property: Professionally cleaned Free of all personal belongings With all keys, garage remotes, and access devices returned In substantially the same condition as received, excluding ordinary wear and tear ________________________________________ 19. Governing Law This Agreement shall be governed by the laws of the State of North Carolina. ________________________________________ 20. Entire Agreement This document constitutes the complete agreement between the Parties. No verbal agreements shall modify this lease. Changes must be in writing and signed by both Parties.