Overview

NOTE: This is only an overview of the terms and conditions.
The actual Rental Agreement may be more specific and contain additional clauses.

1. RENTAL AGREEMENT:

• The Renter and the Owner will sign a Rental Agreement which contains the terms and conditions of the Lease.

2. RENTAL PERIOD

• The Lease will be on a month-to-month basis, unless a specified period is negotiated between the Renter and Owner.
• The Lease will be in effect from the date the Rental Agreement is signed by both the Owner and Renter, and will be automatically renewed the first day of every month thereafter, until the end of the Rental Period or unless the lease is terminated sooner.

3. SECURITY DEPOSIT:

• A Security & Damage Deposit of $500 is due at the time the Renter is accepted by the Owner, which may be before the Rental Agreement is signed.
• The security deposit will be refunded after Renter vacates the unit if:
  (a) the unit has been vacated in acceptable condition,
  (b) if there has been no damage, and
  (c) if none of the unit's contents is missing. An inventory of the unit's main contents will be made at the time of rental and verified by both Renter and Owner.
• The Owner has sole discretion to determine whether, and how much of, the security deposit will be applied to recoup damages to or losses from the premises.
• Final charges will not be limited to the amount of the deposit if the damage or loss exceeds the deposit amount.
• The deposit may not be applied toward the last month's rent.

NOTE: Please see item #9, KEY, below for an additional deposit for keys.

4. RENTAL PAYMENTS:

• Rent is due on or before the first day of each month, and becomes delinquent after the tenth calendar day. Rent can be prorated if the lease begins after the first day of a month. Thereafter, it will be due on the first day of the month.
• After the 10th day of the month, a delinquency surcharge of $30 will be added to the rent.
• A lump sum payment in advance for the lease period is acceptable.
• Rent may be paid by check or cash

NOTE: If a month's rent will be late as a result of extreme or unusual circumstances, Renter must make arrangements within the first ten (10) days of the month for approval to delay rental payment. If the reason is acceptable to the Owner, Renter will not be charged a late fee.

5. PETS/ANIMALS:

• No dogs or cats or other pets are allowed in the unit, even temporarily.
• If Renter is found to have, or have had, an animal on the premises, he/she will be given a seven- (7-) day notice to vacate and will be billed a $50.00 cleaning fee.
• Visitors must be informed to leave their animals and pets elsewhere.
• Bird feeders are not permitted to be attached to the building.

NOTE: In exceptional circumstances, the Owner may allow a pet, but it will require an extra, non-refundable deposit from the Renter.

6. PROHIBITED OR RESTRICTED ACTIVITIES:

• Renter is expected to comply with the 1300 University St. Condominium Association's House Rules, a copy of which will be given to the Renter upon occupancy. These Rules are quite standard and reasonable.
• If Renter breaks or ignores the House Rules, as well as other common standards of acceptable behavior (see example in parentheses below), such breaches will be grounds for eviction within seven (7) days. (EXAMPLE: excessive noise or disruptive conduct is not permitted. The loud playing of television sets, radios, stereo systems, moving of furniture, bouncing balls, loud talking/laughing on the balcony, etc., can create a problem for surrounding residents of the building and close-by buildings.)
• There is no smoking allowed in the condo (including on the balcony). This applies to the Renter and any guests at the condo.  Smoking in the condo will be grounds for immediate eviction. After expiration of the rental period, any evidence found that the Renter has smoked on the premises, or allowed others to smoke, will result in a forfeit of $100.00 from the Renter's Security & Damage Deposit.

7. INSURANCE:

• The Owner does not assume liability for loss, damage, or theft of personal property or negligence of the occupant of the unit.
• The Renter is advised to obtain renter's insurance to protect his/her property and/or liability
  

8. UTILITIES:

Water, sewer and garbage costs are paid by the Owner. Telephone service and electricity are provided, but subject to the following limitations:

• Long distance calling is not included, so the renter will have to use a prepaid long-distance phone card or his/her cell phone for that type of call.
• Electricity is expensive so to encourage the Renter to conserve (turn off lights, turn off heat when not in the condo, use dishwasher only when full, wear warm clothing indoors, etc.), the Owner will pay for electricity up to a maximum of $40.00 per month. Any usage over that amount will be billed to the Renter and added to the following month's rent, or deducted from the Security & Damage Deposit if the electricity bill arrives after the last month's payment has been made. [NOTE: In 2008, the electricity ranged from approximately $12/month in the summer to a high of approximately $40/month in the coldest winter months.]
  
• Any electricity excess charges due from the Renter that remain unpaid at the end of the Renter's occupancy will be deducted from the Security and Damage Deposit.
  

9. KEY:

• The keys to the building and the unit are the property of the Owner and must be returned. There is a $100 key deposit to ensure the return of the keys.
• Lost keys must be reported to the Building Management as soon as possible after the loss is discovered. The door locks will be changed and the Renter billed for the cost of the new lock(s) and keys. No refunds will be made for keys that are later located.

10. ACCESS TO THE STUDIO UNIT:

• The Condo Association reserves the right to have internal and external contractors perform services to the condo units during normal working hours, as needed.
• Except in cases of emergency, the Renter will be given 48-hour's notice if the Owner or others with official business need to access the unit.

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