Lease

SAMPLE RESIDENTIAL LEASE (VRLTA)

The attached document is a sample lease. It should be tailored to the specific rental situation. Some terms might not be applicable to your situation and can be deleted. For example, if the rental unit is an apartment, the language regarding yard maintenance may be safely deleted. On the other hand, the landlord or tenant might want additional terms added. For example, if the property is a house with a swimming pool, the parties might add a clause that the landlord will be responsible for pool maintenance. (That doesn't mean that the landlord has to maintain the pool himself--he could hire an independent contractor to take care of it.)

Some other situations to think about include:

1. If a couple with children are renting, the couple will be the only tenants on the lease. The fact that children will be residing on the premises should be added to the lease perhaps with a maximum number.

2. If the whole security deposit is paid by only one tenant or someone other than a tenant, the lease can be modified to have the security deposit returned to only that person.

The sample lease requires that the Virginia Residential Landlord and Tenant Act govern the lease. While the VRLTA is considered to be generally more of a benefit to the tenant than to the landlord, it does contain provisions for the landlord's benefit as well. The VRLTA automatically applies to almost all apartment rentals and automatically applies to many house, townhouse, and condominium rentals as well. In situations where the Act doesn't automatically apply, the parties to the lease may opt to make it apply by including such a term in the lease. It is strongly recommended that the parties not delete that term; however, should a party decide that the VRLTA does not and should not apply, it is strongly recommended that the VRLTA clause be modified to state that it doesn't apply--rather than simply deleting the clause completely.

Signing a lease is a substantial commitment and once you've signed, it's almost impossible to get out of. Don't sign a lease unless you really understand what you're signing--even this one. When in doubt, consult an attorney.

Form: LEASE_VRLTA_2006.doc 15 JUN 2006

RESIDENTIAL LEASE

1. PARTIES.

Landlord:

Name: ______________________________________

Address: ______________________________________

______________________________________

Tenants: Guarnators:

________________________________ _______________________________

________________________________ _______________________________

________________________________ _______________________________

________________________________ _______________________________

2. LEASE & PREMISES. Landlord hereby leases to Tenants, and Tenants hereby lease from Landlord the premises located at 123 Anywhere Street, Somewhere, Virginia 00000.

3. APPLICABLE LAW. The Virginia Residential Landlord and Tenant Act (Virginia Code Title 55, Chapter 13.2) shall govern this rental. Tenants are advised to read the Act as well as Virginia Code Title 55, Chapter 13, before signing this lease.

4. TERM. The term of this tenancy shall run from _________________ ____, 20_____,

through _________________ ____, 20_____. This lease shall neither automatically renew nor automatically convert to a month-to-month tenancy.

5. RENT. Tenants shall pay a total rent for the term of $______________, payable in installments as follows:

First month's partial rent: $_____________, due on the start date of the lease;

Eleven months' full rent: $_____________, due the first of each month;

Last month's partial rent: $_____________, due the first of the last month.

Tenants shall pay the rent by either hand delivering or mailing it to Landlord at the address above. Tenants may each pay with a separate check, but all payments shall be made at the same time and delivered in one envelope. Each check shall include the address of the premises upon it. If Tenants mail the rent payment, Tenants shall assume the risk that the rent payment may be lost in the mail and that they may be required to remit another payment in the event that the first payment does not reach Landlord. Tenants should take all necessary precautions to ensure the safe and prompt delivery of each rent payment. Landlord shall consider rent received by mail after the due date as timely paid as long as it is post-marked by the due date.

6. LATE CHARGE. Tenants shall pay a late charge of 5% of any rental amount not received by Landlord at the above address by 5:00 p.m. on the fourth day after the date the rent is due. (If rent is due on the first, a late fee will be assessed if rent isn't received by 5 p.m. on the fifth.)

7. DISHONORED CHECKS. If one of Tenants' checks bounces, Landlord may require rent payments to be made by cash, money order, cashier's check, or certified check. Tenants shall pay a service charge of $25.00 for each check returned unpaid by the payor bank for any reason. This service charge shall be added to the rent payment due for the month in addition to the late charges described above.

8. SECURITY DEPOSIT. Landlord acknowledges that he has received the sum of $_______________ from Tenants as a security deposit. Landlord may, as allowed by law, deduct from the security deposit the amount of damages incurred by him due to Tenants' breach of this lease. Tenants are not entitled to have the security deposit applied to late or unpaid rent.

Tenants hereby acknowledge that Landlord is entitled to have the full security deposit available to apply to any damages for the entire term of this lease, any renewal of this lease, and any holdover