The parties to this agreement are Cosco LLC, hereinafter called "Property Manager" and Ms. Tenant hereinafter called "Tenants".
2. The Property.
The property is located at 123 Main Street, Warren. Property Manager hereby rents the property to Tenant.
3. Term.
This lease shall be a month-to-month lease. The Property Manager shall give the Tenant actual physical possession of the property on 1 July 2007. Either party may cancel this lease by giving a 30-day written notice.
4. Rent.
The rental amount for said property shall be $1000.00. per month payable in advance on or before the 1st day of each month. Payment will be mailed to Cosco LLC., P.O. Box 4124, Center Line, Michigan 48015-4124. After giving one bad check, the property owner may require all future payments in cash or by money order.
5. Occupation of Premises
The premises shall be occupied by only the following individuals:
6. Utilities.
The tenants shall be responsible for payment of any and all electricity, gas, water, telephone and cable television expenses incurred during the occupancy of the property. Consumers Power provides the natural gas, and can be reached at 1-800-477-5050, and DTE provides the electrical service and they may be contacted at 1-800-477-4747. The tenant shall not use any method of heating other than normal methods provided for without special agreement with the property manager in writing. If the water bill is more than $50.00 past due, the water will be turned off and the lease terminated.
7 . Security Deposit.
A security deposit of $ 1500.00 is required. The tenant must inform the property manager in writing within four (4) days after moving of a forwarding address where you can be reached and where you will receive mail; otherwise the property manager shall be relieved of sending you an itemized list of damages and the penalties adherent to that failure.
8. Tenant's Duty to Maintain Premises
The tenant will take good care of the premises, fixtures, and appurtenances, make all repairs on the premises and fixtures whenever they have been damaged as a result of fault, misuse, or neglect of the tenant, his/her family, and visitors all at the sole expense of the tenant.
9. Rules and Regulations
a) The tenant shall notify the property manager when any repairs are needed to the property.
b) No additional awnings or other projections shall be attached to or protrude beyond the outside walls of the premises.
c) No radio or television aerials or wires shall be erected about any part of the property.
d) The tenant is responsible for cutting grass, and shrubbery and removing snow and/or ice from the sidewalk and driveway.
e) The tenant shall dispose of the rubbish and garbage in a clean and sanitary manner and shall not be visible from the street. Garbage must be inside the garage or around to the back of the home.
f) The tenant shall not alter any lock or install a new lock on any door of the house without the prior written consent of the property manager, and a duplicate key delivered to the property manager.
g) Not pour grease into the sinks or toilets.
h) The tenant shall supply a telephone number for convenience of making appointment, for necessary inspections and/or repairs.
i) The property manager, by giving thirty (30) days written notice to the tenant, may alter the lease (pursuant to Act No. 454 of the Public Acts of 1978, i.e., The truth in renting act) to reflect changes required by federal, state or local law or rule or regulation: to ensure the physical health, safety.
10. Alterations
No alteration, addition, or improvement, that would not reasonably be expected in the normal course of habitation of the rental unit and which would cause Property Manager to incur costs to restore the unit to original condition prior to this tenancy, shall be made by Tenant in or to the dwelling unit without the prior written consent of Property Manager. Such consent shall not be unreasonably withheld.
11. Noise
Tenant agrees not to allow on his/her premises any excessive noise or other activity, which unduly disturbs the peace and quiet of other tenants in the building or nearby neighbors. Property Manager agrees to prevent other persons in the building or common areas from similarly disturbing Tenant's peace and quiet.
12. Inspection of Property by Manager
Property Manager or his/her agent may enter the dwelling unit during reasonable hours only for the following purposes: to inspect to see if the Tenant is complying with this agreement, to make repairs, and to exhibit the unit to prospective purchasers, mortgagees and tenants. Such entries shall not be so frequent as to seriously disturb Tenant's peaceful enjoyment of the premises. Such entries shall take place only with the prior consent of Tenant, which consent shall not be unreasonably withheld. If, however, Property Manager or his/her agent reasonably believes that an emergency exists, such as fire, which requires an immediate entry, such entry may be made without Tenant's consent. If such emergency entry occurs, Property Manager shall, within two (2) days thereafter, notify Tenant of the date, time, and purpose of entry.
In the event that this lease should be signed as Tenant by more than one person, then the liability of the persons signing shall be joint and several.
Notwithstanding anything herein to the contrary, Property Manager shall not be obligated to enter into a new lease or to agree to a continuation of possession on a month‑to‑month tenancy.
The city of Warren requires annual inspections in order for the property to be registered as a rental property. Tenant agrees to make accommodations to allow the inspectors into the home.
13. Property Manager's Obligation to Repair and Maintain
Property Manager shall maintain the dwelling, dwelling units and premises thereof in a decent, safe and sanitary condition in compliance with all federal, state and local laws, regulations and ordinances. In the event that repairs are needed, the Tenant should notify Property Manager or his/her agent and should allow reasonable time for compliance’s. Requests for repairs should be in writing.
14. Failure to Pay Rent/Late Payments
Rent is to be paid by in advance by the Tenant to Property Manager on or before the due date as described in paragraph 4 of this lease. Payment postmarked or received in person after 7 days of the due date will be $35.00. If a tenant is 10 days late of more twice within a 12 month period the monthly rent will automatically increase by $35 per month.
15. Pets.
Are not allowed.
16. Liability.
The tenant shall indemnify and hold the property manager harmless and against all liability arising from injury during the term of this agreement to any person or property. The property manager shall not be liable for any injury or damage to person or property due to falling plaster, steam, fire, gas, electricity, water, rain, ice, snow, latent defects in or on the property.
17. Insurance.
The property manager shall not be liable for any loss or damage to any personal property of the tenant. The property has insurance on the structure only and does NOT cover any of the tenants personal property. It is strongly recommended that the tenant purchase a Renters Insurance Policy to cover any personal property.
18. Appliances
Appliances are NOT included.
19. Subleasing Tenant shall not assign this lease or sublet the dwelling unit without the written consent of Property Manager. Such consent shall not be withheld without good reason relating to the prospective tenant's ability to comply with the provisions of this lease. This paragraph shall not prevent Tenant from accommodating guests for a period not to exceed 14 calendar days, any other arrangements must be approved in writing by Property Manager.
20. Lead Paint
Houses built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, lessors must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Lessees must also receive a federally approved pamphlet on lead poisoning prevention.
21. ABANDONMENT:
Abandonment shall have occurred if: (1) without notifying the Owner/Agent, the Resident/Tenant is absent for fifteen (15) days while rent is due and Resident/Tenant's possessions remain in the premises; or (2) without notifying the Owner/Agent, the Resident/Tenant is absent for three(3) days while rent is due and substantially all of Resident/Tenant's possessions have been removed from the premises. If Resident/Tenant abandons the premises, Owner/Agent shall have the right to enter and repossess the premises and attempt to rent the property at fair market value. Resident/Tenant shall be liable for the entire rent due for the remainder of the term, and/or the cost of re-renting the premises, including rent lost, the cost of restoration to the condition at the time it was rented, and reasonable fees for re-renting the property. If Resident/Tenant has left personal property in the premises, Owner/Agent shall remove and store it and give Resident/Tenant notice of this action. Resident/Tenant may obtain such personal property from Owner/Agent by paying the reasonable moving and storage expenses, unpaid rent, utilities and damages arising as a direct result of Resident/Tenant's tenancy occupancy and pay other damages of any type whatsoever which approximately arise from any acts of Resident/Tenant at its fair market value and set off the proceeds toward any amount the Resident/Tenant may owe Owner/Agent.
22. DEFAULT, LANDLORD REMEDIES:
The failure of the Owner/Agent to enforce any term hereof shall not constitute a waiver, nor shall acceptance of a partial payment of rent or other money claim be deemed a waiver of the Owner/Agent's right to the full amount due and owing. Failure to comply with one or more of the substantive or procedural terms of this Agreement, shall constitute a default of the entire Agreement. In the case of default, Owner/Agent shall have the immediate right to possession by means of self-help or legal process, and remedy is not intended to be exclusive but rather cumulative and in addition to any other remedies available under Michigan law-abiding agrees that any judgment against Owner/Agent may only be enforced against the property of the Owner/Agents and not the assets of the Owner/Agents
23. ATTORNEY FEES:
In the event any legal action is brought by either party to enforce the terms herein or relating to the demised premises, the Owner/Agent shall be entitled to all costs and attorney fees incurred in connection with such action, unless ruled otherwise by the Court. If any one or more clauses contained herein shall be declared invalid or unenforceable in the future the remainder hereof shall stand as valid and enforceable.
24. Changing of the Lease
No changes, additions or subtractions from conditions of this agreement shall take effect unless mutually agreed upon in writing.
NOTICE: MICHIGAN LAW ESTABLISHES RIGHTS AND OBLIGATIONS FOR PARTIES TO RENTAL AGREEMENTS. THIS AGREEMENT IS REQUIRED TO COMPLY WITH THE TRUTH IN RENTING ACT. IF YOU HAVE A QUESTION ABOUT THE LEGALITY OF A PROVISION OF THE AGREEMENT, YOU MAY WANT TO SEEK ASSISTANCE FROM A LAWYER OR OTHER QUALIFIED PERSON.
WHEREFORE We, the undersigned do hereby execute and agree to the above lease.
