Change clause in the Rent Receipt

Aug 6th, 2022
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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.
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An option to renew confers on the tenant a right to continue to rent the property for a fresh term after the expiry of the current term, i.e. to renew the existing tenancy. With an option to renew, the tenant obtains another term of tenancy and the landlord is somewhat secured with rental income as agreed beforehand.
Some contracts have a forfeiture clause. This means the landlord can end the tenancy if you break your agreement. An example is if you do not pay your rent. Forfeiture clauses sometimes say the landlord has the right to re-enter or regain possession of the property.
Rent shall be due each month on the first day of the month. Rent shall be considered advance payment for that month. The first full Rent payment under this Lease shall be due on the following date: . No holidays, special events or weekends shall excuse Tenants obligation to pay timely Rent.
A lease clause is a specific part of a contract or rental agreement between the landlord and tenant. These clauses need to be compliant with local state laws and other agreements between the two parties.
Rent and Payment Terms Specify any penalties for late payments or bounced checks. This clause should also address whether there will be any rent increases during the lease term and how much notice will be provided for such changes.
The good guy clause is a legal guarantee that maintains that if a tenant is unable to pay their rent, they will give their landlord notice, typically within three months, and vacate the space. Additionally, as part of the clause, the tenant will pay all their owed fees up until the day they leave.
Lease agreements often include a default clause, which outlines the actions to be taken if either party fails to meet their obligations. For tenants, this usually pertains to unpaid rent, while for landlords, it might involve the failure to provide a habitable living environment.
In the event that Tenant fails or refuses to make said repairs , Landlord may do so at Tenants expense which shall be Additional Rent. Landlord shall maintain in proper order and repair the exterior of the Premises as well as the common areas and the utilities servicing the Premises.

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