Lease Agreement for Serviced Apartment

Document Type: DOCX

Number of Pages: 4

Price: KES 150
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Summary

A Lease Agreement for a Serviced Apartment is a legally binding real estate document that defines the terms under which a landlord rents out a fully furnished and service-inclusive residential unit to a tenant for a specified period and rent.

Key Components of a Lease Agreement for a Serviced Apartment:
1. Parties to the Agreement
2. Description of the Premises
3. Term of the Lease
4. Rent and Payment Terms
5. Security Deposit
6. Use of Premises
7. Landlord's Obligations
8. Tenant's Obligations
9. Maintenance and Repairs
10. Termination and Exit Terms
11. Inventory and Handover
12. Access and Inspections
13. Dispute Resolution
14. Governing Law
15. Signatures and Witnesses

Purpose of a Lease Agreement for a Serviced Apartment:
1. It formalizes the arrangement between the landlord (or property manager) and the tenant, outlining their rights, duties, and expectations.
2. Clarifies Services Included by specifying hotel-like services such as housekeeping, laundry, security, internet, utilities, and furnishings.
3. It protects the landlord from property misuse and ensures the tenant receives the agreed-upon services and living conditions.
4. It clearly outlines rent, deposits, utility coverage, and penalties for non-payment or early termination.
5. It acts as a point of reference in case of disagreements on things like damage, early exit, or non-performance of services.

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Disclaimer: This document is not to be taken as legal advise.

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