Phone (734) 995-5575
|
|
Oppenheimer Properties, Inc. Phone (734) 995-5575 |
RESIDENTIAL
LEASE
(hereafter
Landlord) rents to , and (hereafter
Tenants) and Tenants will pay reasonable rent for the premises.
COVENANTS
1. DESCRIPTION AND CONDITION. Landlord rents to Tenants the dwelling
located at (the
Premises), including parking spaces. The premises are/are not furnished. All furnishings in furnished Premises are part of the
Premises. Tenants have received a
move-in inventory checklist. The Premises are conclusively presumed to be in
good condition at move-in, unless Tenants specify objections on that list and
return a completed copy of it to Landlord within seven (7) days after receiving
the list. The move-in inventory
checklist is not a request for repairs.
2. TERM AND POSSESSION. This
lease begins on and
runs through .
Possession will not be provided until the first month's rent, Security
Deposit, and preparation fee are paid. If the Premises are not ready on the
date this lease commences, the sole damage for which Landlord shall be liable
to Tenants is the full abatement of Tenants' prorated rent from the date this
lease commences to the date the Premises are ready for occupancy, which date is at Landlord's exclusive
determination. If none of the Tenants
takes possession on the day it is to be provided, and if Tenants have not given
Landlord written notice that they will take possession on a later day, Landlord
may presume conclusively that Tenants have abandoned the Premises and rerent
them.
3. RENT. Tenants shall pay Landlord total rent for
the term of $_________________________. Rent shall be paid in equal monthly
installments of $________________________, due on the first of each month,
beginning with the second month (first month collected before move-in). Landlord may require installments to be paid
with certified funds or money orders and
in a single payment. Rent is
paid only when actually received by Landlord.
4. PLACE OF PAYMENT AND NOTICES. Notices to Tenants shall be delivered or
sent to the Premises. Payment of rent
or other charge due from Tenants and notices to Landlord shall be delivered
or sent to . Notices required by this lease or by law
shall be in writing. Notices that are
mailed (including security deposit
notices) are deemed received by the other party on the next regular day for delivery of mail after being stamped
with sufficient postage and deposited in a United States mailbox.
5. APPLICATION OF MONEY FROM TENANTS. Money received by Landlord from Tenants or
in their behalf shall be applied to Tenants' account as follows: first to satisfy unpaid late fees,
dishonored check fees, and to other fees owed by Tenants; second to maintenance
and repair costs chargeable to Tenants; third to legal fees and court costs
legally chargeable to Tenants, including costs incurred prior to curing a
default; fourth to outstanding utility bills that are the responsibility of
Tenants; fifth to deposits or portions thereof due from Tenants; sixth to rent.
Restrictive endorsements on a check or statements in any communication,
including those accompanying a payment, shall not constitute an accord and
satisfaction or amend this provision.
6. DEFAULT AND REMEDIES. Tenants' noncompliance with any covenant of
this lease is a Default. If Tenants
default, Landlord may have all remedies legally permitted, including
termination of this tenancy. Landlord, upon written notice to Tenants, also may
cancel any renewal, lease extension, or lease for a future term that Landlord
and Tenants have executed. Tenants shall reimburse Landlord for all legal fees,
costs, and expenses legally recoverable in such actions and for all damages
caused by their default, including costs of rerenting the Premises and all rent
for the remainder of the term and succeeding terms that Landlord does not
collect through mitigation. If other Premises owned or managed by Landlord are
available for lease, it shall not be unreasonable for Landlord to lease them
prior to Tenants' Premises. From the date of execution, time is of the essence
of this lease.
7. UTILITIES. Tenants shall put utilities for the Premises
into their names, maintain
uninterrupted service throughout the Term,
and timely pay all utility bills, including , , and . Tenants shall pay any penalties imposed by
utility providers because of late payment of original bills.
8. LATE FEES AND DISHONORED CHECKS. Tenants shall pay a late fee to Landlord of
$____________ for rent that is days late,
and Tenants shall pay an additional late fee of $_________ for rent that is days late or more. Partial payment of a month's rent does not
abate late fees. In addition to late fees, Tenants shall owe Landlord
$_________________________ for any check to Landlord that is dishonored.
9. CHRONIC LATE PAYMENT OF RENT. Rent is due on the first of each month, and
notwithstanding Paragraph 8, Landlord may terminate this lease because Tenants
are chronically late with rent payments.
Chronic late payment is defined as paying rent after the due date on
three or more occasions during this lease.
10. SECURITY DEPOSIT.
Tenants shall pay a security deposit of $_________________________
before receiving possession. The deposit, or any portion of it that is
returned, shall be returned in a check, payable to all Tenants, or may be
returned entirely to one Tenant if all
other Tenants have so authorized Landlord in writing. Security Deposit Act
communications shall be addressed to Landlord at the address in paragraph 4.
Tenants may not elect to use the deposit for rent.
The
name and address of the financial institution where your deposit will be held
is: __________________________________________________________________
_________________________________________________________________.
The
name and address of the surety company providing a bond for your deposit is:
__________________________________________________________________
_________________________________________________________________.
11. NONREFUNDABLE PREPARATION FEE. Tenants shall pay a nonrefundable
Preparation Fee of $_________________________ before receiving possession.
12. KEYS. Landlord may retain a key to the Premises
throughout the lease. Tenants shall not change the locks without Landlord's
prior written consent, and Tenants shall immediately provide Landlord with a
key to any new lock if the locks are changed. Landlord may charge Tenants a
reasonable amount for replacing lost keys and for assisting Tenants in gaining
entry to the Premises.
13. ENTRY BY LANDLORD. Landlord or its agents may enter the
Premises in an emergency or to perform repairs, maintenance, code inspections,
appraisals, insurance inspections, other purposes reasonably related to the
operation of the building, and to show the Premises for sale or lease. Except during an actual or apparent
emergency, all entries shall be made during reasonable hours; and Landlord
shall make reasonable efforts to inform Tenants of its intention to enter and
shall attempt to establish a mutually acceptable time.
14. MAINTENANCE. Tenants shall use and maintain the Premises
in accordance with applicable police, sanitary, and all other regulations imposed
by governmental authorities. Tenants also shall maintain the Premises in a neat
and orderly manner. Tenants will
observe all reasonable regulations and requirements of underwriters concerning
use and condition of the Premises tending to reduce fire hazard and insurance
rates. Tenants shall pay for the repair
of all damage to the Premises and structure of which they are a part, including
fire and flood damage, caused by Tenants, their guests or invitees; they shall
reimburse Landlord for all permit, inspection, and certification costs it
incurs because of their noncompliance with this lease or applicable laws; and
they shall reimburse Landlord for all damages resulting from not reporting the
need for repair or maintenance in a reasonably timely manner. Nothing in this
clause shall waive or lessen Landlord's obligation to maintain and repair the
Premises under Michigan law, but Landlord is not liable for any loss that
accrues to Tenants because of Landlord's actions in reasonably fulfilling its
obligations hereunder.
15. HOLD HARMLESS. Tenants agree for themselves, their heirs,
and personal representatives, to hold Landlord harmless from all damages, loss, including lost
rents, or liability that results from their negligent or illegal use of the Premises
and from their intentional misuse of
them.
16. INSURANCE. Landlord and its agents are not responsible
for theft of personal property of Tenants, their guests or invitees; or for
damage, loss, or destruction of personal property of Tenants, their guests or
invitees, from any cause, including acts or omissions of third parties, unless
caused by Landlord's failure to perform or negligent performance of a duty
imposed by law. TENANTS ARE SPECIFICALLY
ENCOURAGED TO INSURE THEIR PERSONAL PROPERTY.
17. ALTERATIONS.
Alterations to the Premises without Landlord's prior written consent are
prohibited. Landlord is not liable to
reimburse Tenants for any alteration, unless agreed in writing. Alterations are
the property of Landlord. Upon lease expiration or earlier termination,
however, Landlord may designate, in writing, alterations it wishes to have
removed, and Tenants, at their expense, shall remove them promptly and repair
any damage caused thereby.
18. RETURN OF PREMISES. Tenants
shall return the Premises at the expiration of the term (or earlier
termination) in as good a condition as when received, reasonable wear and tear
excepted. Early surrender of the
Premises, including surrender accepted in writing, shall not extinguish any of
Tenants' obligations to perform under this lease, including payment of all rent
reserved.
19. AMENDMENT. This lease may be amended in writing only,
signed by all parties.
20. CAPTIONS. Paragraph captions are solely to assist with
identification. They are of no legal
significance.
21. WAIVER. Failure
by Landlord to enforce a provision of this lease on one (1) or more
occasions, is not a continuing waiver
of Landlord's right to enforce the provision.
22. SEVERABILITY. A court ruling that a clause of this lease
is invalid or the parties' written agreement
that they no longer shall observe one or more lease provisions, shall
not invalidate any other clauses of this lease.
23. PETS. No pets are allowed in the Premises at any
time.
24. SUCCESSORS BOUND. The heirs, successors, assigns, and
representatives of Landlord and Tenants shall be bound by the covenants of this
lease.
25. USE AND QUIET ENJOYMENT. Tenants
shall comply with all applicable laws and ordinances; use the Premises
for residential purposes only; and
refrain from all conduct that unreasonably disturbs each other, other
Tenants or neighbors of the building.
No business of any sort shall be located in or conducted from the
Premises. Tenants shall be entitled to
the quiet enjoyment of the Premises throughout this lease so long as they comply with its covenants.
26. JOINT AND SEVERAL LIABILITY. When there is more than one Tenant on the
lease, each tenant is jointly and severally liable for its full performance.
27. UNTENANTABILITY. If the Premises become wholly untenantable
because of fire or other casualty, Landlord may cancel this lease by notifying
Tenants in writing, and Tenants shall surrender the Premises to Landlord. If for the same reasons the Premises become
partially untenantable, or wholly untenantable without Landlord canceling the
lease, Landlord shall repair the Premises with reasonable speed. From the date
of the casualty, until repairs are substantially completed, Rent shall abate in
the same percentage that the Premises are untenantable, unless the
untenantability is caused by negligence or intentional misconduct of Tenants,
their guests or invitees, in which case rent shall not abate. Landlord is not
liable for failure to repair until Tenants have notified Landlord of the need
for repair and a reasonable time to make the repair has passed thereafter. If
50% or more of the Premises are untenantable, the Premises are "wholly
untenantable".
28. ASSIGNMENT, SUBLETTING, AND OCCUPANCY.
Tenants shall not assign this lease or sublet the Premises, or any part
thereof, without prior written permission of Landlord, which shall not be
denied unreasonably. Only those listed
herein as Tenants/occupants may occupy the Premises. Landlord may evaluate proposed assignees and subtenants as it
would evaluate prospective Tenants, including whether they are acceptable to
remaining prime Tenants.
29. ABANDONMENT. If during this lease, Landlord believes in
good faith that Tenants have abandoned the Premises and current rent is unpaid, Landlord may re‑enter
the Premises and remove the remaining possessions of Tenants without liability
therefor. Abandonment is conclusively presumed if rent is unpaid for fifteen
days following the due date and (1) a substantial portion of Tenants'
possessions have been removed or (2) acquaintances of Tenants or other reliable
sources indicate to Landlord that Tenants have left without intending to re-occupy the Premises. If Tenants abandon or surrender the Premises
at anytime and leave personal property there, Landlord may dispose of it
however Landlord chooses, and Tenants shall reimburse Landlord for all costs
incurred in that regard.
30. HOLDING OVER. Tenants shall vacate the Premises on or
before the expiration date of the lease. If Tenants retain possession
thereafter without Landlord's written permission, Landlord has thirty (30) days
from the last day of the lease to sue Tenants for possession under section
.5714 (1)(C)(2) of the Michigan Summary Proceedings Act (Holding over after lease expires). If suit is not begun within that time, the tenancy shall continue
on a month to month basis from the date the lease expires, and all other
covenants of the lease shall remain in full force and effect. Rent, however,
shall increase by twenty percent (20%), beginning on the first day after lease
expiration, regardless of whether suit is brought. Acceptance of money by
Landlord from Tenants during the thirty (30) days following expiration of the
lease does not waive Landlord's right to seek possession as described in this
paragraph, and Tenants shall compensate Landlord for all damages caused by
their unauthorized holdover.
31. LIMITED CANCELLATION RIGHTS. A
Tenant who has occupied the Premises for more than thirteen (13) months may
terminate this lease upon sixty (60) days written notice to Landlord if: (i)
Tenant has become eligible during the term to take possession of a subsidized
rental unit in senior citizen housing and provides Landlord with written proof
thereof; or (ii) Tenant has become incapable during the term of living
independently, as certified by a physician in a notarized statement. Election to cancel under this paragraph is
limited to the Tenant to whom the foregoing applies, and the lease continues in
full force and effect for remaining Tenants.
32. ENTIRE AGREEMENT. This lease is the Parties' entire agreement,
and they enter it voluntarily. There
are no other agreements that are part of this lease unless specifically
enumerated herein. Tenants' application
to lease is incorporated herein, and Tenants covenant that the information
supplied in that application was and continues to be accurate.
33. MEDIATION. All parties to this lease agree that the
University of Michigan Mediation Service will act as mediator in any dispute
involving University of Michigan students that may arise between the parties
and that:
a) all parties
will make a reasonable and good faith effort to settle such disputes through
mediation;
b) any party to
this lease may request mediation;
c) mediators may
enter and inspect the Premises after notice to both parties and at reasonable
times;
d) this provision
does not preclude other legal rights of the parties.
34. OTHER.
ญญญญญญ ญ
35.
DISCLOSURES. This lease
includes the attached disclosures.
Dated Landlord
___________________________________________________
Dated Tenant
___________________________________________________
Dated Tenant
___________________________________________________
Dated Tenant
___________________________________________________
Dated Tenant
___________________________________________________
Dated Tenant
(Revised
September, 2001)