FREE Australian Residential Lease Agreement with Option to Purchase

RESIDENTIAL LEASE AGREEMENT

This Residential Lease Agreement (“Agreement”) is made on [Date] by and between:

[Name], having his permanent place of residence at [Address] herein referred to as Lessor;

AND

[Name], having his permanent place of residence at [Address] herein referred to as Lessee.



The Lessor rents to Lessee and Lessee rents from Lessor for use as a residence, a two-bedroom townhouse, located at [Address], known as the Premises.



TERM:



The initial term of this lease is [Years] to commence on [Start Date] and to end on [End Date], on the following terms and conditions:



RENT:



Lessee agrees to pay as rent for the demised premises AUS $ [Amount] per month, payable by cash, bank transfer, check or money order, without demand, two weeks in advance. Rent will be considered late if not received by Lessor after 14 days from the due date, unless a written agreement is in effect with an alternative payment plan. Late payments affect tenant credit references.



SECURITY DEPOSIT:



On execution of this agreement, the Lessee shall deposits with Lessor the additional sum of AUS $ [Amount], or three week rents, as rental bonds, receipt of which is acknowledged by Lessor



OPTION TO PURCHASE:



During the term of this Lease, the Lessee shall have a right and option to purchase the leased Premises from the Lessor. The Parties shall agreed to an amount mutually which shall be paid to the Lessor by the Lessee. Once such amount is finalised, the Lessor shall not refuse the offer made by the Lessee. The Security deposit provided by the Lessee shall be adjusted from such amount and the Lessee shall make the balance payment within a period of 30 days from such offer.





HOUSEHOLD MEMBERS:



Lessee agrees that the demised premises shall be occupied at maximum of 5 household members. The Lessee shall not sublet the unit or any part thereof, or assign this agreement without Lessor’s written consent.





EVICTION:



Any failures by the Lessee to pay rent or other charges promptly when due shall constitute a default herein under and permit Lessor at its option to terminate this tenancy upon 14 days' written or verbal notice to Lessee.



ALL CONDITIONS OF LEASE AGREEMENT:



The conditions of the lease are separate, the validity of each not being dependent upon the other. This lease constitutes the entire agreement between the parties. The breach of any condition of this lease is to be considered substantial. This lease is executed in two copies, each copy to be considered an original for all purposes. This lease shall be construed according to the New South Wales Office of Fair Trading.





Lessor Lessee



____________________________ ________________________________



Date: Date: