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    Lease Reservation Agreement

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    chris agduyeng
    This lease reservation agreement requires the applicant to pay a deposit to reserve a property for potential rental. The applicant must complete landlord application documents within 7 days. If approved, the parties will execute a standard lease agreement with a 2 year term, specified rent payments, security deposit amounts, and an initial purchase price. Within 14 days, the landlord will provide a lease for execution matching the listed terms or refund the deposit if the application is rejected.

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    Download as PDF, TXT or read online from Scribd

    Lease Reservation Agreement

    Uploaded by

    chris agduyeng
    34 views1 page
    This lease reservation agreement requires the applicant to pay a deposit to reserve a property for potential rental. The applicant must complete landlord application documents within 7 days. If approved, the parties will execute a standard lease agreement with a 2 year term, specified rent payments, security deposit amounts, and an initial purchase price. Within 14 days, the landlord will provide a lease for execution matching the listed terms or refund the deposit if the application is rejected.

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    This lease reservation agreement requires the applicant to pay a deposit to reserve a property for potential rental. The applicant must complete landlord application documents within 7 days. If approved, the parties will execute a standard lease agreement with a 2 year term, specified rent payments, security deposit amounts, and an initial purchase price. Within 14 days, the landlord will provide a lease for execution matching the listed terms or refund the deposit if the application is rejected.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    34 views1 page

    Lease Reservation Agreement

    Uploaded by

    chris agduyeng
    This lease reservation agreement requires the applicant to pay a deposit to reserve a property for potential rental. The applicant must complete landlord application documents within 7 days. If approved, the parties will execute a standard lease agreement with a 2 year term, specified rent payments, security deposit amounts, and an initial purchase price. Within 14 days, the landlord will provide a lease for execution matching the listed terms or refund the deposit if the application is rejected.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    LEASE RESERVATION AGREEMENT

    In consideration of receipt of a Deposit in the amount of $______________________ from


    _________________________________________________________________________
    (“Applicant(s)”), Landlord hereby agrees to reserve the property commonly known as
    _________________________________________________________________________
    ____________________________________________________________________ (“Real
    Estate”) for purposes of Applicant’s occupancy as a Tenant as further noted below;

    Applicant agrees to complete and give Landlord within seven (7) days from the date of this
    agreement all relevant documents listed on Landlord’s Tenant Application Checklist.

    The parties agree that upon Landlord’s approval of Applicant’s application, the parties shall
    execute Landlord’s standard Lease and Option Agreement (copy online at www. luxorhomes.net)
    with the following key terms:
    1. Commencement Date equal to later of __________ or date of receipt of occupancy
    certificate by Landlord;
    2. Rent equal to $____________________, payable _____________________;
    3. Security Deposit equal to $_____________________________________________;
    4. The balance of the Security Deposit shall be payable as follows: ________________
    ____________________________________________________________________;
    5. Lease term equal to two years from commencement;
    6. Option Premium Payable equal to $_____________________, payable as follows
    ____________________________________________________________________;
    7. Initial Purchase Price equal to $__________________________________________.

    Within fourteen (14) days of receipt of all Applicant’s completed application documents,
    Landlord shall either: 1) provide a Lease and Option Agreement for execution whose terms
    substantially match the above terms or 2) reject Applicant(s) based on Landlord’s documents and
    other Landlord standards, or any other legal reason, in which case Applicants deposit shall be
    immediately refunded. Within five (5) days of notification from Landlord that the Lease and
    Option are ready for execution, Applicant will execute said documents and the Deposit shall be
    applied toward the Lease Security Deposit or Option Premium. If Applicant fails to execute the
    Lease and Option Agreements, fails to supply all documents required in the Tenant Application
    Checklist or otherwise defaults on this Reservation Agreement, then the Deposit paid shall not be
    refunded to Applicant and shall be treated as liquidated damages. In such case neither party will
    have further recourse. Any conflict between the parties related to this agreement will be settled
    by binding Arbitration in the county where the Real Estate resides. Costs of Arbitration will be
    paid by the losing party, as allocated by the Arbitrator. Otherwise, costs of Arbitration will be
    split 50/50. If either party fails to comply with the Arbitration requirement, then that party will
    be pay the other party’s legal and other costs.

    Agreed to this _____ day of _________, 20____:

    _____________________ ___________________ _____________________


    Applicant Applicant Landlord

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