Sample lease agreement for property which is used for company employees or higher authorities . When company provide e residence to their employees, an agreement is to be signed containing all terms and conditions.This agreement is also use for property,residence, vehicles according to conditions.
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Lease Agreement Format
This agreement of lease is made at Lahore on this 30th day of August 2013 by and between:
Mr Riaz Ahmed son of Allad Daad holding CNIC No 34567-4567, Muslim adult, resident of …………..herein referred to us the lessor of the one part.
Chohan pvt Ltd. through its managing Director, Name….. CNIC No……..referred to as the LESSEEof the other part.( Expressions LESSOR and Lessee where the context so permits shall always mean and include their respective heirs, successors, legal representatives and assignees.
Wheraas the Lessor is the lawful owner and is in lawful possession of address——–consisting of 6 bedrooms with attached bathrooms, drawing/dining, livings, stores, kitchen servant quarters with one bathroom car porch together with fixtures and fitting along with telephone connections 36655267, 36655634 hereinafter collectively called the Said Property. And whereas the LESSOR as agreed to lease and the LESSEE has agreed to take on lease the Said Property on the term and conditions as given below:-
Now This Indenture Witnessth As Follows:
1- The LESSOR lets and LESSEE take the SAID PROPERTY for a period of two years commencing from 1st day of December 2014 and ending on 30th day of November 2016. Te lease is renewable for the further period as may be mutually agreed in writing on expiry of the lease period.
2- The rent of the SAID PROPERTY shall be Rs 150,000( Rupees one hundred fifty thousand only) per month.
3- The advance rent shall be appropriated towards the rent when it becomes due every quarter. The LESSEE will pay rent on quarterly basis in advance by 10th of the first month of the due quarter.
4- That the LESSOR hereby acknowledge that a sum of Rs 140,000/- was received vied demand draft no 667778999/90 dated 1-12-2003 from the LESSEEas fixed deposit/security which shall be refunded to the Lessee on giving back the vacant possession of the SAID PROPERTY after deduction of damages/shortage if any outstanding bills of Electricity,Water,Gas and Telephone etc.against the SAID PROPERTY.
The LESSEE Hereby Covenants With the LESSOR as Follows:
1- To pay to the LESSOR the rent hereby reserved in the manner herein before mentioned.
2- That the LESSEEshall not any time during the said terms,without the consent in writing of the Lessor, pull down, damage or make any structural alternations or additions to the SAID PROPERTY provided always the LESSEE shall have a right to install any fixture and fittings including Air Conditioners in the SAID PROPERTY, to detach and repossess the same subject to the restoration of the SAID PROPERTY to their original state at this cast, reasonable wear and tear accepted on the expiry of this lease or any renewal hereof.
3- To use the SAID PROPERTY for residential purpose only and would not use for the commercial purpose.
4- Not to sublet the whole or any part of SAID PROPERTY.
5- To pay regularly the bills for electricity, Gas, Water, and Telephone in respect of the SAID PROPERTY. All dues must be cleared before the expiry of the Lease.
6- To pay all existing and future taxes assessments and other charges of a public nature whether imposed by the Municipality,Government or any authority in respect of SAID PROPERTY.
7- Not to erect or setup a building or structure on the SAID PROPERTY nor to add to any existing building or structure during the period of Lease or any renewal without the written consent of the Lessee.
Agreement between Lessor and Lessee.
1- The Lessee and the Lessor shall have the right and option to terminate this lease at any time within the extended lease period of 2 years, ending on 30th day of november 2016 provided they give two months notice in advance to either of the parties.
2- That the Lessee will use the said premises for residential purpose. In case any damages are caused to the said premises or to its fittings and fixtures etc, due to the negligence of the Lessee, the Lessee will get the same repaired at his own cost to the entire satisfaction of the Lessor.
3- That there is no outstanding bill against the Said Property before possession.
4- That the Lessor will pay the property tax.
Signature of both parties.