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Lease terms

1. Lease Duration: The lease term will be for a period of six month - one year, starting from the date of agreement. A renewal option is available under the conditions agreed upon at the end of the initial lease term. 2. Monthly Rent: The monthly rent for each room is $1,000, payable on the first day of each month. Late payments may incur a fee of $20 if not received by the fifth of the month. 3. Security Deposit: A security deposit of $1000 is required at the signing of the lease. This deposit will be held to cover any potential damages or unpaid rent. It will be returned within 30 days of lease termination, minus any deductions for repairs or unpaid dues. 4. Utilities: The landlord will cover all utility costs including electricity, water, gas, trash collection, and internet service. 5. Furnishings: The condo is fully furnished. Tenants agree to maintain the condition of all furnishings provided. Any damage or loss may result in deductions from the security deposit. 6. Parking: Parking is available in the condo lot on a first-come, first-served basis. Each tenant is entitled to one parking space. 7. Use of Premises: The premises are to be used exclusively as a residential dwelling. Business activities or other uses are not permitted without prior written consent from the landlord. 8. Occupancy: Occupancy is limited to one person per bedroom. Overnight guests are not permitted unless otherwise agreed in writing. 9. Maintenance and Repairs: Tenants are responsible for keeping their rooms and common areas clean and orderly. Major repairs and maintenance issues should be reported to the landlord immediately. 10. Rules and Regulations: Tenants must comply with all condo association rules and regulations. Quiet hours are from 10 PM to 7 AM. Smoking is not allowed inside the condo or in common areas. 11. Termination: Either party may terminate the lease with a written notice 30 days prior to the intended termination date. Early termination by the tenant may result in the forfeiture of the security deposit. 12. Legal Compliance: Tenants agree to abide by all local, state, and federal laws while residing in the property.