A condominium lease contract is a legally binding document whereby the owner of a condominium, leases the property to a tenant who pays a rental charge for using the property. A condominium is like an apartment complex where individual owners own the apartments and jointly own other parts of the complex like parks, shops etc. A condominium lease contract lays down the terms of the lease agreement.
Sample Condominium Lease Contract:
This condominium lease contract is entered on May 21, 2011 by and between the following parties:
Name of owner: Rachel Brown
Address: 501, Rivergreen Apartments, Utah
Phone number: 3851838474
Name of tenant: Tom Dickens
Address: Lake Park Drive, Utah
Phone number: 3859294758
Terms and conditions:
- The lessee agrees to pay a monthly rent of $1,000 for using the condominium owned by Rachel Brown located at 7th Street, Utah and the lessor agrees to lease the condominium to the tenant.
- The lessee has paid the first month’s rent and also a refundable deposit of $1,000 to the lessor and will be paying all the utility bills in the future.
- The term of the contract is 11 months and it will expire on April 21, 2012.
- The condominium must be solely used for residential purposes.
- No pet animals are allowed in the complex.
- Both parties shall give a notice of 1 month before terminating the contract and emptying the premises.
The undersigned hereby agree to the terms of the contract.
Signature: Rachel Brown
Signature: Tom Dickens
Witness: Jonah Thomas