Lease of Condominium Unit
Lease Agreement made on the (date), between (Name of Lessee) of (street address,
city, state, zip code), referred to herein as Lessee, and (Name of Lessor), a corporation
organized and existing under the laws of the state of (name of state), with its principal office
located at (street address, city, state, zip code), referred to herein as Lessor.
I. Premises Leased
Lessor hereby leases to Lessee Unit No. _____, hereinafter called the Unit, in (Name of
Condominium), hereinafter called the Condominium, a Condominium located at (street
address, city, state, zip code), pursuant to a Declaration of Restrictions (the Declaration), dated
(date), and recorded on (date), in Book (Number) of [e.g., County Recorder’s Office of (Name of
County and State)] Official Records, at Page (number). The Unit is also designated in the floor
plans of the Building, attached to the Declaration as Exhibit A. Lessor also hereby leases to
Lessee items of personal property, now located in the Unit, described in Exhibit B attached
hereto and made a part hereof. No other personal property will be furnished by Lessor.
II. Rights Appurtenant to Unit. Except as otherwise provided in this Agreement, Lessee
shall be deemed owner of the Unit for all purposes provided in the Declaration, Bylaws, and
Rules and Regulations of the Condominium, and shall have all the rights, privileges, and duties
appurtenant to such ownership including, but not limited to, membership and the right to vote in
the Association of Unit Owners. The Unit and the rights appurtenant to the Unit are hereinafter
called the Premises.
III. Occupancy. The Unit is leased for occupancy as a private dwelling to Lessee and is not
to be used for any other purposes or occupied by any other person, other than transient
relatives and friends, without first obtaining the written consent of Lessor to such use.
IV. Holding Over.
A. The term of the Lease shall commence on (date), and shall end on (date), unless
sooner terminated by a breach of the terms and conditions of this Lease by Lessee, or
by an abandonment of the Premises by Lessee. Lessee shall surrender the Premises to
Lessor immediately on the termination of the Lease term.
B. The failure of Lessee to surrender the Premises on the date provided in this
Agreement for the termination of the Lease term, and the subsequent holding over by
Lessee, with or without the consent of Lessor, shall result in a creation of a tenancy from
month-to-month at a monthly rental of $__________, payable on the _____ day of each
month during the month to month tenancy. This provision does not give Lessee any right
to hold over at the expiration of the term. All other terms and conditions of this Lease
shall remain in full force during any month-to-month Lease under this Section.
V. Rent and Assessments
A. During the term of this Lease, Lessee shall be liable for rent and assessments,
such assessments to be determined by the Governing Board of the Condominium,
hereinafter called the Governing Board, as set forth in the Declaration and Bylaws of
B. Rent for the Unit is $___________ per month, due and payable in advance to
Lessor on the _______ day of each month. The sum of $__________, representing the
amount due for the first month or part of month of occupancy, is payable by check to the
order of Lessor on execution of this Lease. Increases in the amount of rent due under
this Lease will be made only at five-year intervals as Lessor may determine. Any such
adjustment will be made in accordance with (E.g., nationally recognized price index). No
decrease that would establish the rent at an amount less than the amount specified
above shall be made.
C. Assessments will be made against the Unit on the basis of the undivided interest
in the common areas of the Condominium allocated to the Unit, as set forth in the
Declaration. The interest of the Unit, expressed as a percentage of the overall annual
budget of common expenses for each year, is _____%. Assessments will be made by
the Governing Board quarterly, on (months and days). The percentage of _____% of the
amount of each assessment will be payable by Lessee in advance to the Governing
Board on the _____ day of each month. The sum of $_________, representing the
assessment against the Unit for the first month or part of month of occupancy, is payable
by check to the order of (Name of Association of Owners) on execution of this Lease.
VI. Covenants of Lessee
A. Payment of Rent. Lessee agrees to pay the rent without any deduction and
without notice or demand.
B. Assessments; Common Expenses. Lessee agrees to pay promptly when due,
all assessments, whether for common expenses or otherwise, as may be levied against
the Unit pursuant to the Declaration, Bylaws, and Rules and Regulations of the
Condominium, or pursuant to law.
C. Liens. Lessee shall not, individually or as a member of the Association of
Owners of the Condominium, fail to do any act which results in the Premises or any part
of the Premises becoming subject to a lien or encumbrance other than such mortgage
liens as are authorized in this Agreement, and Lessee agrees to indemnify Lessor from
and against any and all liability, loss, cost, and expense, including reasonable attorney's
fees, Lessor may sustain or incur by reason of any such lien or encumbrance.
D. Fire Insurance. Lessee agrees, at the proportionate share of the expense as a
member of the association of owners, and at all times during the term of this Lease, to
keep the property insured against fire as follows: [fire insurance terms].
E. Liability Insurance. Lessee agrees, at the proportionate share of the expense
as a member of the Association of Owners, and at all times during the term of this
Lease, to maintain comprehensive liability insurance as follows: (state terms of liability
F. Repair and Maintenance. Lessee agrees at Lessee's own expense to maintain
the Unit in good repair, and at the proportionate share of the expense as a member of
the Association of Owners, to maintain the common areas in good repair.
G. Lawful use of Premises. Lessee agrees on Lessee's own behalf to keep the
Unit, and as a member of the Association of Owners to keep all common areas in a
strictly decent, safe, and sanitary condition, to observe all municipal, state, and federal
laws, ordinances, rules, and regulations, and to abide by the Declaration, Bylaws, and
Rules and Regulations of the Condominium, and any agreements or decisions made
pursuant to the same by the Association.
H. Inspection of Premises. Lessee agrees to permit Lessor and its agents to enter
the Unit or any of the common areas for inspection purposes at all reasonable times.
Lessee further agrees at Lessee's own expense with respect to the Unit, and at the
proportionate share of the expense with respect to the common areas, to repair and
remedy all defects within (number) days after having received notice of the defects from