Fixed Term Tenancy Agreement

Fixed Term Tenancy Agreement (Alberta)

The tenancy created by this Agreement is governed by the Residential Tenancies Act (the “Act”) and if there is a conflict between this Agreement and the Act, the Act prevails.

THIS LEASE AGREEMENT made effective the day of , .

BETWEEN:

LANDLORD

(hereinafter referred to as “Landlord”)

- and -

TENANT(S)

(hereinafter referred to as “Tenant”)

WHEREAS:

A. Landlord owns the property located at [address], (hereinafter called the “Premises”);

B. Tenant is desirous of renting the Premises from Landlord on a fixed term basis;

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and agreements contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties hereby agree as follows:

1. Term

Landlord does hereby lease to Tenant “as is” the Premises on a fixed term basis for a period of year(s), such lease period to commence on the day of , (the “Commencement Date”) and to terminate on the day of , (the “Termination Date”).

Landlord and Tenant agree that this Lease shall revert to a periodic month to month tenancy lease, which said periodic month to month tenancy lease shall be governed by the Act, on the Termination date unless:

(a) Landlord or Tenant have served the other party with a notice of termination; or

(b) Landlord and Tenant have entered into and fully executed a new tenancy lease.

2. Rent

Tenant shall pay as rent to Landlord the amount of DOLLARS ($ ) of lawful money of Canada, payable in advance on the first day of each and every month; the first of such payments to be made on the Commencement Date.

3. Security Deposit

(a) Tenant shall pay Landlord a security deposit of DOLLARS ($ ) [Note to landlord: the security deposit cannot exceed one (1) month’s rent.]

(b) Landlord shall, within two (2) business days of receiving same, invest the security deposit in an interest-bearing trust account at a bank, credit union or other financial institution in the Province of Alberta. Upon termination of the tenancy, Landlord shall pay the interest earned on the security deposit to Tenant at the rate prescribed by the Security Deposit Interest Rate Regulation.

(c) Subject to subparagraphs (d) and (e) below, within ten (10) days following the date on which Tenant vacates the Premises, Landlord shall return the security deposit to Tenant, less any permitted deductions other than for reasonable wear and tear, together with a statement of charges showing the amount of any such deductions.

(d) If Landlord is unable to determine the amount of the permitted deductions within 10 days, Landlord shall deliver an estimated statement of charges along with any excess of the security deposit to Tenant within the aforesaid 10-day period. Landlord shall deliver to Tenant a final statement showing the amount of actual deductions along with any remaining balance of the security deposit within thirty (30) days after the date on which Tenant vacates the Premises.

(e) Landlord shall not be entitled to hold back any portion of the security deposit for estimated deductions under subparagraph (d) above unless Landlord has complied with the inspection and reporting obligations set out in Section 5 hereof.

4. Late Fees & Dishonoured Cheques

Any rent payment not made when the same is due shall incur a late fee of $ . In the event that any cheque of Tenant’s is not honoured by Tenant’s bank for any reason, a dishonoured cheque fee of $ will be charged. Any such fees incurred shall be immediately due and payable and recoverable as rent.

5. Inspection of Premises

(a) Within seven (7) days before or after Tenant takes possession of the Premises, Tenant and Landlord or Landlord’s agent shall jointly inspect the Premises and complete the attached Inspection Checklist and Inventory Report. Landlord (or Agent, as the case may be) shall immediately provide Tenant with a signed copy of the Inspection Checklist and Inventory Report.

(b) Within seven (7) days before or after Tenant gives up possession of the Premises at the end of the tenancy, the parties shall again jointly inspect the Premises and complete the move-out portion of the Inspection Checklist and Inventory Report, and Landlord (or Agent, as the case may be) shall immediately provide Tenant with a signed copy of the Inspection Checklist and Inventory Report.

6. Tenant Obligations

Tenant covenants to:

(a) to use the Premises for residential purposes only and for no other purpose;

(b) pay the rent and all other charges when the same become due;

(c) not interfere in any significant manner with the rights of either Landlord or other tenants in the Premises, the common areas, or the property of which they form a part;

(d) not perform any illegal acts or carry on an illegal trade, business, or occupation in the Premises, the common areas, or the property of which they form a part;

(e) not endanger persons or property in the Premises, the common areas, or the property of which they form a part;

(f) not cause or allow significant damage to the Premises, the common areas, or the property of which they form a part;

(g) not change, replace or add any locks to the Premises without the prior written consent of Landlord;

(h) maintain the Premises and the property with it in a reasonably clean condition; and

(i) vacate the Premises at the expiration or termination of the tenancy.

7. Landlord Obligations

Landlord covenants to:

(a) have the Premises available for occupation by Tenant on the Commencement Date;

(b) not disturb in any significant manner Tenant’s possession or peaceful enjoyment of the Premises.

(c) ensure that the Premises will meet at least the minimum standards prescribed for housing premises under the Public Health Act and regulations.

8. Repairs

Landlord covenants to keep the Premises in a good state of repair, and Tenant agrees to give Landlord prompt written notice of any defect, accident or fault in the water pipes, heating apparatus, wiring or to any other part of the Premises. Tenant further covenants to repair any damage caused to the Premises by Tenant’s willful or negligent conduct or that of persons who are permitted on the Premises by Tenant.

9. Termination and Renewal

(a) This Agreement shall automatically terminate without notice on the Termination Date, unless at least ninety (90) days prior to the Termination Date, Tenant shall give Landlord written notice of Tenant’s offer to renew the lease for an additional -year term.

(b) Within fourteen (14) days of receipt of such notice, Landlord shall inform Tenant in writing whether Landlord accepts or rejects Tenant’s offer to renew.

(c) If Landlord accepts Tenant’s offer of renewal, the parties shall enter into a new agreement upon such terms and conditions as the parties may agree.

(d) After the Termination Date, provided that the parties have not renewed the lease, Tenant may terminate the tenancy by giving Landlord at least one (1) month’s written notice.

(e) After the Termination Date, provided that the parties have not renewed the lease, Landlord may terminate the tenancy by giving Tenant at least three (3) months’ written notice, unless termination of the period month-to-month tenancy lease is being sought so that the Premises or any portion thereof may be sold as a condominium unit or part of a condominium unit, in which case Landlord must give Tenant at least six (6) months’ written notice.

Signatures

THIS IS A 13-PAGE DOCUMENT and includes a move-in / move-out report, receipt for deposit, pet addendum and security deposit refund / statement of charges. GET THE FULL FORM AT: www.megadox.com/d/5872