A basic room rental agreement is used when a homeowner has a spare room available on their property that they want to rent out. The agreement outlines all of the relevant details regarding the lease, such as responsibilities, rent payments, security deposits, and more. The simplicity of this agreement makes it the ideal contract to use in these cases.
This Room Rental Agreement is being made between [Homeowner.FullName> (referred to as “Homeowner”) and [Renter.FirstName] [Renter.LastName] (referred to as “Renter”). It is a legally binding agreement that sets forth the rights and obligations of the Parties and is intended to promote household harmony.
Renter is renting from the Homeowner a room in the residence located at (Enter the Address) (referred to as “Home”). The Renter agrees to vacate the Property by (End Date).
This room can be described as: (Add a description of the room).
This basic room rental agreement is a fixed-term lease. If you require more flexibility from your lease agreement, consider using our month-to-month rental agreement.
This Room Rental Agreement is on a fixed-term basis beginning on (Enter start date) and ending on (Enter end date) (referred to as ‘Term”).
Monthly rent to be paid by Renter to Homeowner is $(Enter amount) per month, due on or before the 1st day of each calendar month during the Term of this Room Rental Agreement.
If a rent payment is not received within (Enter number) days of the 1st of the month, the payment will be considered late. A $(Enter amount) late fee will be charged for each additional day that the rent is late.
The Renter will pay the Homeowner a security deposit of $(Enter amount) as security for any damages to the House caused by the Renter. The Security Deposit will be returned to the Renter within (Enter number) days of the termination of this Room Rental Agreement, less any deductions for damages.
Most states require that either party provides a minimum of 30-days notice when terminating a rental agreement early. However, there are certain states that require 60-days notice, so make sure to check your local regulations.
Either Party may terminate this Agreement with (Enter the number) days written notice delivered to the other Party.