When renting out a garage space, it`s important to have a clear and concise lease agreement in place. This protects both the landlord and the tenant by outlining the terms of the rental agreement and setting expectations for both parties.
Here is a sample lease agreement for a garage rental:
1. Parties: This lease agreement is between [landlord`s name] (hereinafter referred to as “Landlord”) and [tenant`s name] (hereinafter referred to as “Tenant”).
2. Premises: Landlord agrees to rent the garage space located at [address of garage] (hereinafter referred to as “Premises”) to Tenant for the purposes of storage of personal belongings and/or a vehicle.
3. Term: The lease term will begin on [start date] and will end on [end date]. This lease agreement may be renewed at the end of the term with mutual agreement between Landlord and Tenant.
4. Rent: Tenant agrees to pay a monthly rent of [rent amount] to Landlord for the use of the Premises. Rent is due on the [due date] of each month. If rent is not paid within [grace period] days of the due date, a late fee of [late fee amount] will be charged.
5. Security deposit: Tenant agrees to pay a security deposit of [security deposit amount] to Landlord, which will be refunded at the end of the lease term provided that the Premises are left clean and undamaged.
6. Use of Premises: Tenant agrees to use the Premises solely for the purposes of storage of personal belongings and/or a vehicle. Tenant agrees not to use the Premises for any illegal purposes. Tenant is responsible for any damage caused to the Premises during the lease term.
7. Access: Landlord reserves the right to access the Premises at any time for the purposes of inspection or maintenance. Tenant agrees to provide Landlord with a set of keys to the Premises.
8. Insurance: Tenant agrees to maintain personal property insurance for any belongings stored in the Premises. Landlord is not liable for any loss or damage to Tenant`s personal property.
9. Termination: Either party may terminate this lease agreement with [notice period] days` written notice to the other party.
10. Governing law: This lease agreement shall be governed by and construed in accordance with the laws of [state/province/country].
By signing below, both Landlord and Tenant acknowledge that they have read and understood the terms of this lease agreement and agree to abide by them.
[Signature of Landlord] [Signature of Tenant]
Having a lease agreement for a garage rental protects both parties in the event of any disputes or misunderstandings. Be sure to consult with a legal professional to ensure that your lease agreement complies with all applicable laws and regulations in your jurisdiction.