Are you in the process of renting out space for an event or business venture? It`s crucial that you have a space rental agreement in place to protect yourself and your property. Here`s a sample space rental agreement that you can use as a starting point:
1. Parties: This section outlines who the parties involved in the agreement are. Typically, this will include the landlord (the person or company providing the space) and the tenant (the person or company renting the space). Be sure to include contact information for both parties.
2. Description of space: This section should describe the rental space in detail, including the address, square footage, and any amenities or features included (e.g. parking, heating/cooling systems, furniture, etc.). Attach floor plans and photos if possible.
3. Term: Here, you`ll specify the length of the rental agreement. This could be a specific date or a range of dates.
4. Rent and security deposit: Be sure to clearly state the rental price and due dates, as well as the amount of the security deposit required and how it will be returned (assuming there are no damages or outstanding fees).
5. Use of space: This section should specify what the tenant is allowed (and not allowed) to do with the rental space. For example, if you`re renting out a commercial space, you may want to restrict the activities to certain business types (no hazardous materials, no heavy machinery, etc.).
6. Maintenance and repairs: Discuss who is responsible for maintaining and repairing the rental space. Generally, the landlord is responsible for more extensive repairs (like those related to structural issues), while the tenant is responsible for maintaining the space in good condition.
7. Insurance: Consider whether tenants are required to carry insurance for their use of the rental space. If so, state the minimum coverage amounts and types of insurance required.
8. Indemnification: This clause will protect the landlord from being held liable for any injuries or damages that occur on the rental space during the term of the agreement.
9. Default and remedies: Here, you`ll outline what happens if the tenant fails to comply with any of the terms of the agreement (e.g. not paying rent on time, damaging the property, etc.). This section should discuss the options that the landlord has to terminate the agreement or take legal action.
10. Governing law: Be sure to specify which state or jurisdiction`s laws will govern the agreement.
11. Signatures: Both parties should sign and date the agreement.
Remember that this is just a sample space rental agreement – you should consult with an attorney or other legal professional to ensure that your specific rental agreement meets all necessary legal requirements in your state or jurisdiction.