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Contract of Lease

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AGREEMENT TO LEASE CONDOMINIUM UNIT

This Lease is made as of the day of , , by and between

(Lessor) and

(Lessee).

In consideration of the payment by Lessee of the sum of Ten Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and in further consideration of the terms and conditions of this Lease, Lessor agrees to lease, and does hereby lease, to Lessee Condominium Unit in the Plan of Condominium on file and of record in the land records of the Clerk's office of

County, , together with a % undivided interest in the common areas and facilities of the Condominium, and together with the exclusive right to use storage bin number and parking space number .

Lessee and Lessor do further hereby agree to the following:

1. The term of this Lease is from the day of , to the day of , for the total rent of Dollars ($ ).

2. The rent shall be paid to Lessor monthly in the amount of $ per month, payable on the first day of each month. Lessee also agrees to pay any and all condominium common area and facilities maintenance payments for the term of this Lease. Such payments are presently $ per month and are payable to . Lessee further agrees to pay for any additional increases in the common area and facilities maintenance costs that may occur during the term of this lease.

3. The parties agree that the unit has been rented in good order and repair. Lessee acknowledges that he or she has inspected the unit, and the unit is in good order except as otherwise noted in writing to Lessor, which writing is attached hereto as Exhibit A.

4. Lessee agrees not to use or permit the premises to be used for any illegal, immoral, or improper purposes; not to make or permit any disturbance, noise or annoyance detrimental to the premises or to the comfort and peace of any of its inhabitants or neighbors; and not to use the premises for any purpose other than as a private dwelling for Lessee and the members of Lessee's family. Lessor reserves the right to terminate this Lease at any time this condition is violated.

5. Lessee agrees not to assign this Lease nor to sublet any part of the premises except with the written consent of Lessor.

6. Lessee agrees to pay the cost of repairing all damage to the premises caused by Lessee or members of Lessee's family or guests, and agrees to leave the premises in an orderly, clean and sanitary condition identical to that in which the premises are rented (with the exception of ordinary wear).

7. Lessee agrees that if default is made in the payment of rent, or if any of the terms of this Lease are violated, Lessee waives all right of notice to vacate, and Lessor will be entitled to re-enter and retake possession immediately, and the entire rent for the next rental period will be immediately due and payable.

8. Lessor reserves the right to terminate this Lease at any time if default is made in the payment of rent, or if any of the terms of this Lease are violated.

9. Lessor agrees that Lessee is entitled to the quiet and peaceful enjoyment of the premises. However, Lessor reserves the right to inspect the premises as necessary, and to show the premises to prospective tenants during the thirty (30) days prior to the expiration of this Lease.

10. If this Lease is executed by more than one individual as Lessee, all obligations incurred by the Lessee are joint and several.

WITNESS our signatures as of the day and date first above stated.

Signature of Lessor

Signature of Lessee

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What a Contract of Lease Is and When It Applies

A Contract of Lease is a written agreement that records the terms under which an owner or landlord grants a tenant the right to occupy and use real property for a specified period in exchange for rent and other obligations. It sets the term length, rent and payment schedule, security deposit, permitted uses, maintenance and repair responsibilities, utilities, insurance, default remedies, renewal or extension mechanics, and any special exhibits such as floor plans or condition reports. The lease is the primary enforceable record of the parties' rights and remedies.

Why a Clear Contract of Lease Matters

A clear lease reduces disputes by documenting mutual expectations and remedies, preserves legal rights, and supports enforcement in court or arbitration.

Why a Clear Contract of Lease Matters

Who Commonly Prepares and Signs a Contract of Lease

Review by the person with signing authority and a legal advisor is advisable for unusual clauses, long terms, or commercial property agreements.

  • Landlords and property managers who need consistent, enforceable terms for occupancy and rent collection.
  • Tenants or tenant representatives who require clarity on use rights, repairs, and termination obligations.
  • Commercial brokers and attorneys who prepare, negotiate, and review legal clauses and exhibits.

Typical Signatories and Their Roles

Landlord — Property Manager

The landlord (or authorized property manager) holds authority to lease the premises, accepts rent, enforces covenants, and handles security deposit accounting. For entities, sign with the legal entity name and include the signer’s title to show authority and avoid disputes over capacity.

Tenant — Individual or Entity

The tenant (individual or authorized representative of a business) accepts occupancy terms, pays rent, and complies with permitted use and maintenance clauses. Ensure the signing party has corporate authority or a power of attorney if signing for an entity.

Step-by-Step: Completing a Contract of Lease

Follow these steps in order to prepare a legally clear lease and reduce rework.

  • 01
    Collect IDs: Obtain government IDs for signers to verify identity.
  • 02
    Fill Core Terms: Enter names, address, term, and rent using the required formats.
  • 03
    Attach Exhibits: Include floor plans, disclosures, insurance certificates, and any addenda.
  • 04
    Sign and Distribute: Execute signatures and distribute copies to all parties with an audit record.

Where to Send or File a Completed Lease

Know the destinations for executed leases and related documents to ensure legal protection and operational readiness.

  • Tenant Copy: Provide an executed copy to the tenant for immediate reference and proof of terms.
  • Landlord Records: Retain an original executed version in the landlord’s document management system.
  • Third-Party Lenders: Send copies to mortgage lenders when required by loan covenants or for property financing.
  • Local Recording Office: Record only when statute or lender requires recording (often for long-term leases).

Digital Signing and Integration Considerations

Ensure the chosen solution meets security and compliance requirements for your industry and preserves a tamper-evident audit trail when parties sign.

  • File Formats: PDF and DOCX supported.
  • Integrations: Connects with CRM, document storage, and accounting.
  • Authentication: Supports email, SMS, and advanced checks.

How to Configure an Online Lease Workflow

Set up fields, signer order, and authentication before sending to avoid delays.

Field | Configuration Type | Setting
Signer Order Define sequential or parallel signing to match negotiation flow
Authentication Level Use email or SMS code for tenant; add ID verification for high-value leases
Conditional Fields Show rent proration or security deposit fields only when applicable
Notifications Enable reminders and completion confirmations for all parties

Comparing eSignature Vendors for Lease Workflows

Key pricing and capability differences affect per-user costs and support for bulk or high-volume lease processes.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
Envelope Cap No cap 100 envelopes/user/year Varies Varies Varies

Common Lease Dates and Timing Expectations

Track the key dates below to avoid missed notices, late rent, or improper termination.

Lease Start Date:

Date when tenant’s obligations and possession begin.

Rent Due Date:

Monthly or periodic date when rent payment is required.

Security Deposit Return:

State-dependent deadline for returning deposit after tenancy ends.

Notice to Vacate:

Typical 30/60 day notice periods depending on tenancy type and state law.

Renewal Notice:

Period when a party must notify intent to renew or terminate.

Key Milestones from Draft to Enforceability

A sequential view of typical processing stages helps teams track progress and assign responsibilities.

01

Draft Preparation

Create initial lease draft with core terms and exhibits.

02

Review and Negotiation

Parties review clauses, propose edits, and agree on final terms.

03

Execution

All parties sign and dates are confirmed; eSign audit captured.

04

Distribution and Recordkeeping

Distribute executed copies and file in secure records.

Common Errors to Avoid When Preparing a Lease

  • Incomplete party names or incorrect entity details that lead to enforceability disputes or inability to collect damages.
  • Vague description of premises or included services that creates conflict over access to amenities or maintenance responsibilities.
  • Missing or unclear rent escalation, late-fee, or payment method provisions that complicate collections and accounting.
  • Failure to attach required disclosures, insurance certificates, or exhibits that may be statutory prerequisites or lender conditions.

Risks and Consequences of an Incorrect or Missing Lease

Enforceability: Ambiguous terms
Monetary Loss: Uncollected rent
Legal Fees: Litigation costs
Regulatory Penalties: Statutory fines
Tenant Claims: Damage disputes
Record Issues: Recording rejection

Essential Clauses Every Professional Lease Should Include

A professional lease balances clarity, risk allocation, and enforceability by addressing operational, financial, and legal topics.

Premises

Clear legal description of the leased area, boundaries, common areas, and any parking or storage allocations to avoid occupancy disputes.

Term

Start and end dates, renewal options, options to extend, and early termination mechanics including notice periods and penalties.

Rent

Base rent, additional rent items (CAM, taxes, insurance), payment method, late fees, and escalation formulas stated precisely.

Maintenance

Allocation of repair responsibilities between landlord and tenant, standards for replacements, and obligations for common area maintenance.

Insurance

Required insurance types and limits, certificate requirements, and indemnity allocations between parties for third-party claims.

Default & Remedies

Events of default, cure periods, landlord remedies, tenant rights, and whether attorneys’ fees or liquidated damages apply.

Supporting Documents and Export Options

Attach key exhibits and maintain copies in several formats to support recordkeeping and downstream processes.

Exhibits

Floor plans, property condition checklist, insurance certificates, and rent schedules should be appended as numbered exhibits for clarity.

Disclosures

Include any state-required disclosures such as lead-based paint or mold notices as separate labeled attachments.

Export Formats

Save executed leases as PDF/A for archival, and retain editable DOCX copies where post-execution redlines or integrations are necessary.

Audit Trail

Keep a tamper-evident audit trail showing signer identity, timestamps, and IP addresses for evidentiary support.

How to Amend or Update a Contract of Lease

Follow a controlled amendment workflow to ensure changes are enforceable and documented.

01

Identify Change:

Specify clause and precise language to be amended.
02

Draft Amendment:

Prepare a one-page amendment that references the original lease.
03

Obtain Approvals:

Get written consent from parties authorized to bind each entity.
04

Execute Amendment:

Have authorized signers date and sign the amendment.
05

Attach to Lease:

Attach the amendment to all executed lease copies and update records.
06

Distribute Copies:

Send executed amendment to tenant, landlord, lender, and property manager.

Frequently Asked Questions About Contracts of Lease

Answers to common questions can prevent delays and reduce legal risk when preparing or executing a lease.


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